With 439 points added, the week sees QR35bn capitalisation

The 2018 budget’s support for the private sector had positive impacted the Qatar Stock Exchange which witnessed 439 points addition in key barometer and more than QR35bn in capitalisation this week.
An across the board buying – particularly in real estate, insurance, transport and industrials – imparted a 5.64% lift to the 20-stock Qatar Index this week which saw Qatar’s 2018 budget give thrust to the private sector with QR29bn worth contracts.
Foreign institutions continued to be bullish albeit with lesser vigor this week which saw Qatar Central Bank (QCB) unveil the second strategic plan for the financial sector.
"The market approached the strong support level at 7,500 points before seeing some gains and eyes now have shifted towards the horizontal line at 8,200 points, which if broken would anticipate further upward correction to 8,375 points and may be more to 8,660 points," Kamco said in its technical analysis.
Analysts said the budgeted QR29bn worth contracts for the private sector in 2018 is expected to give a major thrust not only to sector but also the economy as a whole at a time when Qatar is facing economic blockade.
Domestic institutions’ substantially weakened net selling also helped the market this week which saw Qatar Development Bank disclose its QR300,000-QR400,000 funding for the small and medium enterprises that seek listing on the Venture Market.
Islamic stocks were seen gaining faster than the main index this week which saw Qatar's consumer price index inflation edges up marginally in November both on monthly and yearly basis despite the continuing economic blockade.
The market was rather skewed towards gainers this week which witnessed real estate, banking, industrials and telecom counters together accounted for about 85% of total trading volume.
The realty sector accounted for 25% of the total volume, banks and financial services (22%), industrials (20%), telecom (18%), transport (8%), consumer goods and insurance (4% each) this week which saw no trading of treasury bills and sovereign bonds.
The banks and financial services’ share in total trade turnover was 34%, industrials (18%), real estate (16%), telecom (11%), transport (9%), and consumer goods and insurance (6% each) this week which saw QCB seek to deepen venture capital financing for SMEs, including start-ups.
More than 82% of the stocks extended gains with major movers being Ezdan, Qatar Insurance, Mazaya Qatar, Commercial Bank, Qatar Oman Investment, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Nakilat, Ooredoo, Gulf Warehousing and Milaha this week.
Non-Qatari funds’ net buying fell marginally to QR100.46mn compared to QR102.29mn the previous week.
Domestic institutions’ net selling weakened substantially to QR64.31mn against QR86.76mn a week ago.
However, local retail investors’ net profit booking strengthened to QR39.47mn compared to QR24.08mn the previous week.
Non-Qatari individuals’ net buying declined perceptibly to QR3.32mn against QR8.55mn the week ended December 7.
Total trade volume rose 4% to 60.84mn shares and value by 9% to QR1.23bn, while deals were down 6% to 20,068.
The telecom sector reported 75% surge in trade volume to 10.66mn equities, 83% in value to QR131.42mn and 36% in transactions to 2,459.
The insurance sector’s trade volume soared 69% to 2.33mn stocks to see more than doubled value to QR70.69mn despite less than 1% fall in deals to 691.
The market witnessed 54% expansion in the consumer goods sector’s trade volume to 2.47mn shares, 19% in value to QR76.88mn and 13% in transactions to 1,531.
The real estate sector’s trade volume increased 10% to 15.38mn equities and value by 19% to QR197.9mn, whereas deals shrank 23% to 4,061.
There was 9% jump in the transport sector’s trade volume to 4.62mn stocks, 22% in value to QR113.72mn and 5% in transactions to 1,717.
However, the industrials sector’s trade volume plummeted 30% to 11.94mn shares, value by 17% to QR221mn and deals by 7% to 4,191.
The banks and financial services sector saw 5% decline in trade volume to 13.45mn equities, 3% in value to QR417.95mn and 10% in transactions to 5,418.