Reflecting the global concerns of rising inflation and hardening interest rates, the Qatar Stock Exchange saw its main barometer plunge 447 points and capitalisation erode QR18bn this week.
An across the board selling, particularly in the industrials, led the 20-stock Qatar Index plummet 3.29% this week which saw the central bank data that showed Islamic banks outpace traditional peers in asset build up in March this year.
Local retail investors were seen increasingly into net profit booking this week which the brokerage entities of QNB and Commercial Bank more than double share trade turnover in the first four months of this year.
The Islamic benchmark was seen declining faster than the other indices this week which Qatar’s automobile sector see rebound of demand in March this year.
The domestic institutions continued to be net sellers but with lesser intensity this week which saw the Investment Holding Group increase the share base, resulting from the acquisition of Elegancia Group.
The Gulf institutions were increasingly net profit takers this week which saw Qatar First Bank close its right issue through which it received QR322.45mn, which was representing 64% of the planned capital increase of QR504mn.
Nevertheless, the foreign institutions were increasingly net buyers this week which saw the shareholders of Ezdan Holding Group approve increasing the percentage of non-Qatari ownership to 100%.
About 79% of the traded constituents in the main market were in the red this week which saw total of 186,639 Doha Bank-sponsored exchange traded fund QETF valued at QR2.46mn change hands across 56 transactions.
There was an expansion in the overall trading and turnover in the main market this week, which saw as many as 206,892 Masraf Al Rayan-sponsored QATR worth QR0.68mn trade across 43 deals.
The venture market nevertheless witnessed shallow trading this week which saw the Gulf individuals’ net buying weakened noticeably.
Market capitalisation was seen eroding about QR18bn or 2.31% to QR743.18bn, mainly on large and midcap segments this week, which saw the industrials and consumer goods sectors together constitute more than 63% of the trade volume.
The Total Return Index tanked 3.29%, All Share Index by 2.95% and All Islamic Index by 3.73% this week which saw no trading of sovereign bonds.
The industrials sector index plunged 6.87%, telecom (2.66%), real estate (2.32%), banks and financial services (1.87%), consumer goods and services (1.63%), insurance (1.42%) and transport (1.04%) this week which saw no trading of treasury bills.
Major losers in the main market Qamco, Mannai Corporation, Industries Qatar, QIIB, Salam International Investment, QNB, Aamal Company, Mesaieed Petrochemical Holding, Qatar Industrial Manufacturing, Commercial Bank and Masraf Al Rayan; while in the venture market, Mekdam Holding saw its shares depreciate in value this week.
Nevertheless, Baladna, Qatar Cinema and Film Distribution, QLM, Doha Bank and Nakilat were among the gainers in the main market and in the juniour bourse, Al Faleh Educational Holding saw its shares appreciate in value this week.
In the main market, the industrials sector accounted for 34% of the total trade volume, consumer goods and services sector (29%), banks and financial services (20%), real estate (11%), insurance (3%) and telecom and transport (2% each) this week.
In terms of value, the banks and financial sector’s share was 48%, industrials (29%), consumer goods and services (14%), realty (3%), telecom, transport and insurance (2% each) this week.
Qatari individuals’ net profit booking increased substantially to QR113.14mn against QR52.53mn the week ended April 28.
The Gulf funds’ net selling also grew significantly to QR41.03mn compared to QR28.72mn the previous trading week.
The Arab funds’ net selling zoomed considerably to QR16.92mn against QR0.64mn the week ended April 28.
The Gulf individuals’ net buying weakened noticeably to QR1.96mn compared to QR17.66mn the previous week.
The Arab individuals’ net buying shrank perceptibly to QR3.87mn against QR11.69mn the week ended April 28.
However, the foreign funds’ net buying grew markedly to QR615.51mn compared to QR576.43mn the previous week.
The foreign individuals were net buyers to the tune of QR16.86mn against net sellers of QR7.62mn the week ended April 28.
The domestic funds’ net profit booking weakened noticeably to QR467.11mn compared to QR516.26mn the previous week.
Total trade volume in the main market rose 26% to 1.14bn shares, value by 22% to QR4.37bn and transactions by 40% to 118,353.
The insurance sector’s trade volume more than tripled to 34.29mn equities and value more than tripled to QR90.43mn on more than doubled deals to 1,950.
There was 72% surge in the real estate sector’s trade volume to 120.92mn stocks, 41% in value to QR151.32mn and 17% in transactions to 4,490.
The industrials sector’s trade volume soared 47% to 392.82mn shares, value by 17% to QR1.28bn and deals by 19% to 27,380.
The market witnessed 21% expansion in the consumer goods and services sector’s trade volume to 331.79mn equities, 25% in value to QR594.53mn and 12% in transactions to 9,762.
However, the telecom sector’s trade volume plummeted 11% to 20.8mn stocks, while value was up 2% to QR93.92mn and deals by 20% to 4,930.
The banks and financial services sector saw 7% contraction in trade volume to 226.12mn shares but on 22% jump in value to QR2.09bn and 65% in transactions to 67,464.
The transport sector’s trade volume was down 7% to 17.64mn equities, value by 4% to QR76.15mn and deals by 18% to 2,377.
The venture market reported 37.38% shrinkage in trade volumes to 0.67mn stocks, 49.54% in value to QR3.84mn and 41.6% in transactions to 285.
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