Foreign institutions’ bearish outlook and increased net selling by non-Qatari individuals steered the Qatar Stock Exchange (QSE) through the negative trajectory this week, which saw Ezdan Holding’s proposed delisting from the bourse.

Led by real estate sector, the 20-stock Qatar Index settled 0.42% lower but capitalisation rose more than QR3bn this week, which saw four of the five sessions under profit booking pressure.

Dubai bourse shrank 1.51%, Abu Dhabi (1.41%), Saudi Arabia (0.96%), Kuwait (0.57%) and Muscat (0.22%); while Bahrain gained 0.42% this week which saw the QSE and Stenden University Qatar sign a memorandum of understanding to collaborate in the fields of education, training, capacity building and community development.

The QSE’s year-to-date (YTD) losses were at 3.6% against 6.56% in Muscat, 5.77% in Dubai and 4.7% in Saudi Arabia and 0.65% in Abu Dhabi; whereas Kuwait and Bahrain added 16.34% and 7.68% respectively.

Selling was skewed towards mid and small cap scrips on the QSE this week which, however, saw domestic institutions’ increased propensity to purchase stocks.

Islamic stocks were seen declining faster than the main index and other indices this week which also witnessed lower buying support from local retail investors.

There was also higher selling pressure in the telecom and consumer goods this week which saw no trading of treasury bills and sovereign bonds.

Overall trade turnover and volumes were on the rise this week, which saw banking, telecom and real estate sectors account for more than 89% of the volumes.

The banks and financial services sector accounted for 45% of the total volume, realty (23%), telecom (22%), industrials and transport (4% each), consumer goods (2%) and insurance (1%) this week which saw Vodafone Qatar, Ezdan, Masraf Al Rayan and Barwa dominate the trading ring in volume and value.

The banks and financial services’ share in total trade turnover was 47%, real estate (17%), industrials and telecom (11% each), transport (6%), consumer goods (5%) and insurance (2%) this week which saw more than 61% of the traded stocks in the red.

Opening the week weak at 10,051 points, the market rebounded strongly to 10.135 points the next day, after which profit booking pressures ensued for the remainder of the session to finally settle 43 points lower this week.

The 20-stock Total Return Index fell 0.42%, All Share Index 0.05% and Al Rayan Islamic Index 0.53% this week, which witnessed four of the seven sectors reel under selling pressure.

The realty sector index plummeted 7.8%, telecom (1.22%) and consumer goods (0.76%); while banks and financial services gained 2.63%, industrials (1.16%), insurance (0.57%) and transport (0.39%) this week.

Market capitalisation however gained 0.63% to QR540.86bn mainly on 2.11% expansion in large cap equities; even as mid, small and microcaps shrank 0.94%, 0.93% and 0.28% respectively this week.

Mid, small, micro and large cap equities’ YTD losses were seen at 12.28%, 5.58%, 2.92% and 1.67% respectively.

Major losers included Ezdan, Ooredoo, Vodafone Qatar, Barwa, Doha Bank, Medicare Group, Mannai Corporation, Qatar National Cement, Qatar Islamic Insurance and Alijarah Holding this week.

Nevertheless, Qatar First Bank, QNB, Industries Qatar, Masraf Al Rayan, Qatar Electricity and Water, Widam Food, Nakilat and Qatar General and Reinsurance were among the gainers this week.

Non-Qatari individual investors’ net profit booking increased to QR20.8mn compared to QR7.35mn the week ended May 18.

Non-Qatari institutions turned net sellers to the tune of QR17.19mn against net buyers of QR13.58mn the previous week.

However, domestic institutions’ net buying strengthened substantially to QR100.02mn compared to QR58.72mn the week ago.

Local individual investors’ net profit booking weakened marginally to QR62.16mn against QR64.95mn the previous week.

Total trade volume rose 7% to 47.48mn shares, value by 22% to QR1.25bn and transactions by 13% to 14,735 this week.

The banks and financial services sector saw 61% surge in trade volume to 21.43mn equities, 49% in value to QR583.08mn and 34% in deals to 6,981.

The industrials sector’s trade volume soared 23% to 1.95mn stocks, value by 39% to QR133.39mn and transactions by 4% to 1,759.

The market witnessed 9% jump in the transport sector’s trade volume to 1.69mn shares, 64% in value to QR77.2mn and 2% in deals to 1,118.

The real estate sector’s trade volume was up 5% to 10.7mn equities but on 1% fall in value to QR216.99mn despite 11% higher transactions to 1,932.

However, there was 37% plunge in the insurance sector’s trade volume to 0.46mn stocks, 24% in value to QR30.42mn and 26% in deals to 308.

The telecom sector’s trade volume tanked 35% to 10.3mn shares, value by 15% to QR136.49mn and transactions by 12% to 1,519.

The consumer goods sector witnessed 19% shrinkage in trade volume to 0.95mn equities, 1% in value to QR68.06mn and 1% in deals to 1,118.