The Qatar Stock Exchange witnessed increased buying interests from foreign institutions, even as it treaded a negative trajectory this week.
Although domestic institutions’ net profit book substantially weakened, the bourse’s main barometer fell more than 3% this week which saw Qatar’s banking sector witness a robust 16% year-on-year expansion in domestic assets in September this year.
The increased selling pressure from local retail investors was rather instrumental in dragging the market this week which saw as many as 10,000 treasury bills valued at QR99.93bn trade across nine deals.
Islamic stocks were seen declining faster than the main index this week which saw a total of 129,600 sovereign bonds worth QR1.29bn change hands across two transactions.
The market was extremely skewed towards decliners this week which witnessed banking, industrials and real estate counters together account for about 74% of total trading volume.
The banks and financial services sector accounted for 32% of the total volume, industrials (24%), realty (18%), telecom (11%), transport (8%), and insurance and consumer goods (4% each) this week.
The banks and financial services’ share in total trade turnover was 47%, industrials (19%), transport (10%), real estate (9%), consumer goods (7%), telecom (5%) and insurance (2%) this week.
Major gainers included QNB, Al Khaliji, Doha Insurance and Al Khaleej Takaful; whereas Qatar Islamic Bank, QIIB, Alijarah Holding, Qatar First Bank, Qatari Investors Group, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Mazaya Qatar, Barwa, Vodafone Qatar, Ooredoo, Gulf Warehousing, Milaha and Nakilat were among the losers this week.
Local retail investors’ net profit booking increased substantially to QR79.23mn compared to QR33.23mn the previous week.
Non-Qatari individual investors turned net sellers to the tune of QR12.77mn against net buyers of QR10.53mn a week ago.
However, domestic funds’ net selling weakened considerably to QR5.27mn compared to QR33.85mn the week ended November 3.
Non-Qatari funds’ net buying rose influentially to QR97.36mn against QR56.55mn the previous week.
Total trade volume rose 5% to 32.42mn shares, value by 30% to QR893.23mn and deals by 30% to 14,279.
The market witnessed 46% surge in the telecom sector’s trade volume to 3.57mn equities, 7% in value to QR47.45mn and 19% in transactions to 1,317.
The transport sector’s trade volume soared 30% to 2.61mn stocks, value by 12% to QR86.18mn and deals by 28% to 1,191.
There was 15% increase in the real estate sector’s trade volume to 5.94mn shares, 18% in value to QR78.79mn and 3% in transactions to 1,719.
The industrials sector’s trade volume shot up 8% to 7.69mn equities, value by 59% to QR174.09mn and deals by 59% to 3,275.
The consumer goods sector reported 2% jump in trade volume to 1.16mn stocks, 10% in value to QR62.33mn and 26% in transactions to 1,059.
However, the insurance sector reported 31% plunge in trade volume to 1.2mn shares, 24% in value to QR21.14mn and 14% in deals to 300.
The banks and financial services sector’s trade volume was down 8% to 10.25mn shares, whereas value grew 39% to QR423.27mn and transactions by 35% to 5,418.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Domestic funds turn bullish, local retail investors reduce selling
IEA sees shale surge as biggest oil and gas boom in history
Saudi said to freeze trading accounts as part of purge
Britain’s shoppers rein in spending, 1st yearly decline since 2013
Fed insiders push for radical policy review as Powell era dawns
World stock markets up on bargain-hunting, earnings
Australian gas giant Santos rejects over $7bn takeover offer
Volkswagen China to invest billions in new energy cars
China oil refiners rush to cash in on bumper profits