The Qatar Stock Exchange witnessed robust buying interests in real estate, transport and consumer goods sectors but overall it settled in the negative this week.
Local retail investors were seen increasingly bullish and domestic funds turned net buyers amidst a 0.36% decline in the bourse’s main barometer this week which saw the QSE hope that the global index provider MSCI would maintain status quo on the use of official foreign exchange rates for transactions rather than the offshore rates.
Non-Qatari individuals were seen marginally bullish in an otherwise bearish market this week which saw Qatar General Insurance and Reinsurance Company receive approval from the Central Bank of Algeria to up its equity stake in Trust Bank Algeria to 20%.
Foreign institutions were increasingly net profit takers this week which saw Doha's banking industry register a double-digit year-on-year expansion in total assets in October this year mainly on the back of robust credit off-take and securities portfolio.
Islamic stocks were seen extending gains this week which saw Qatar Central Bank dispel apprehensions of investors in the QSE over MSCI moves as it will guarantee an exchange rate equivalent to the Qatari official onshore rates.
The market was rather skewed towards gainers this week which witnessed banking, industrials and realty counters together accounted for more than 67% of total trading volume.
The banks and financial services sector accounted for 26% of the total volume, industrials (24%), realty (16%), telecom (13%) transport (10%), consumer goods (5%) and insurance (4%) this week which saw faster expansion in domestic deposits largely mitigated the weakening overseas inflows, helping Doha's banking sector register a 17% growth in total deposits mobilisation to QR794.28bn in October this year.
The banks and financial services’ share in total trade turnover was 42%, industrials (21%), transport (10%), real estate (9%), telecom (7%) and consumer goods and insurance (5% each) this week which saw a total of 80,150 sovereign bonds valued at QR790.86mn change hands across four transactions.
About 66% of the stocks extended gains with major movers being Ezdan, Vodafone Qatar, Milaha, Aamal Company, Qatari Investors Group, Commercial Bank, Qatar First Bank, Alijarah Holding, Woqod, Gulf Warehousing, Medicare Group, Qatar Oman Investment and Islamic Holding Group this week.
Nevertheless, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Ooredoo, Doha Bank and Dlala were among the losers this week.
Local retail investors’ net buying strengthened considerably to QR81.72mn compared to QR26.03mn a week ago.
Domestic funds turned net buyers to the tune of QR4.43mn against net sellers of QR11.54mn the previous week.
Non-Qatari individuals were also net buyers to the extent of QR2.86mn compared with net sellers of QR7.72mn a week ago.
Non-Qatari funds’ net profit booking increased substantially to QR89mn against QR6.77mn the week ended November 23.
Total trade volume rose 62% to 60.84mn shares, value by 65% to QR1.43bn and deals by 56% to 22,719.
The insurance sector’s trade volume almost tripled to 2.59mn equities and value almost quadrupled to QR74.71mn on more than doubled transactions to 1,008.
The transport sector’s trade volume more than doubled to 6.14mn stocks and value also more than doubled to QR142.02mn on 85% increase in deals to 2,482.
The real estate sector reported 78% surge in trade volume to 10.27mn shares, 81% in value to QR127.68mn and 36% in transactions to 3,328.
The telecom sector’s trade volume soared 76% to 8.14mn equities, value by 72% to QR99.24mn and deals by 89% to 2,246.
The banks and financial services sector saw 51% expansion in trade volume to 16.02mn stocks, 63% in value to QR606.66mn and 62% in transactions to 6,551.
The industrials sector’s trade volume shot up 38% to 14.7mn shares, value by 36% to QR303.77mn and deals by 59% to 5,287.
There was 30% increase in the consumer goods sector’s trade volume to 2.98mn equities, 24% in value to QR74.56mn and 3% in transactions to 1,817.
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