Qatar Stock Exchange (QSE) witnessed strong buying interests, especially in insurance, real estate and transport, but overall it settled in the negative this week.
Although retail investors turned bullish, the 20-stock Qatar Index shrank 1.11% this week which saw the Ministry of Development Planning and Statistics disclose that a robust expansion in both hydrocarbons and non-hydrocarbons helped Qatar economy surge 5.5% year-on-year in real terms during the third quarter this year.
However, domestic funds turned bearish and there was a weakened net buying support from non-Qatari institutions this week which saw a robust expansion of exports, especially to South Korea, helped Qatar report about 55% increase month-on-month in trade surplus to QR12.84bn in November this year.
Small and mid-cap stocks witnessed robust buying this week which saw no trading of treasury bills and sovereign bonds.
Islamic stocks were seen declining slower than the main index this week which saw the market skewed towards decliners.
The banking and industrials counters together accounted for about 66% of total trading volume.
The banks and financial services sector accounted for 42% of the total volume, industrials (23%), telecom (15%), realty (12%), insurance (3%) and consumer goods and transport (2% each) this week.
The banks and financial services’ share in total trade turnover was 57%, industrials (14%), real estate (9%), telecom (7%), insurance (5%), transport and consumer goods (4% each) this week.
Major gainers included Ahli Bank, Qatar First Bank, Al Khaliji, Aamal Company, Qatar Electricity and Water, Qatar Insurance, Al Khaleej Takaful, United Development Company, Ezdan, Nakilat and Gulf Warehousing; even as QNB, Masraf Al Rayan, Alijarah Holding, Salam International Investment, Qatari Investors Group, Mazaya Qatar, Ooredoo and Vodafone Qatar were among the losers this week.
Local retail investors turned net buyers to the tune of QR13.49mn compared with net sellers of QR106.58mn a week ago.
However, domestic institutions turned net sellers to the extent of QR59.24mn against net buyers of QR11.73mn the previous week.
Non-Qatari funds’ net buying weakened substantially to QR45.88mn compared to QR97.78mn the week ended December 21.
Total trade volume rose 3% to 62mn shares, while value fell 10% to QR1.26bn and deals by 12% to 14,609.
The banks and financial services sector saw 75% surge in trade volume to 26.21mn equities, 44% in value to QR718.05mn and less than 1% in transactions to 5,486.
However, the transport sector’s trade volume plummeted 46% to 1.46mn stocks, value by 23% to QR45.9mn and deals by 31% to 802.
The market witnessed 42% plunge in the consumer goods sector’s trade volume to 1.24mn shares but on 5% increase in value to QR52.11mn despite 12% lower transactions to 911.
The insurance sector’s trade volume tanked 36% to 1.67mn equities and value by 57% to QR57.92mn, while deals gained 35% to 378.
There was 22% shrinkage in the industrials sector’s trade volume to 14.4mn stocks, 57% in value to QR180.53mn and 21% in transactions to 3,661.
The real estate sector’s trade volume declined 18% to 7.55mn shares, value by 6% to QR113.72mn and deals by 19% to 2,195.
The telecom sector’s trade volume was down 9% to 9.46mn equities, value by 16% to QR92.17mn and transactions by 15% to 1,176.
