The foreign funds were bullish this week, which saw the Qatar Financial Centre’s purchasing managers’ index suggest that demand gained momentum in the non-energy private sector, leading to a positive outlook for the economy in the next12 months.
About 76% of the traded constituents extended gains to investors in the main market this week, which saw the positive outlook for the country’s logistics and allied sectors with Hamad Port registering the highest-ever volume of breakbulk in March.
The Arab institutions’ weakened net selling had its influence in the main market this week which saw the Group Securities announce market making for as many as 12 listed entities.
However, the domestic institutions turned net profit takers in the main market this week, which saw a total of 0.47mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR1.12mn trade across 30 deals.
The Islamic index was seen gaining slower than the indices in the main market this week which saw as many as 0.15mn Doha Bank-sponsored exchange-traded fund QETF valued at QR1.6mn change hands across 85 transactions.
Trade turnover and volumes were on the increase in the main market this week, which saw a global insurance rating agency A M Best assign a financial strength rating of A- (excellent) and a long-term issuer credit rating of “a-” (excellent) to Damaan Islamic Insurance Company (Beema) with a "stable" outlook.
Market capitalisation was seen gaining QR8.98bn or 1.52% to QR601.47bn on the back of small and midcap segments this week which saw the industrials and banking sectors together constitute more than 61% of the total trade volume in the main market.
The Total Return Index gained 1.27%, the All Share Index by 1.37%, and the All Islamic Index by 1.06% this week, which saw no trading of sovereign bonds.
The transport sector index shot up 5.47%, telecom (3.46%), insurance (3.4%), realty (2.96%), industrials (1.5%), consumer goods and services (0.72%) and banks and financial services (0.45%) this week which saw no trading of treasury bills.
Major gainers in the main market included Dlala, Widam, Al Khaleej Takaful, Gulf International Services, Qatar Insurance, Qatar Islamic Bank, Salam International Investment, Mannai Corporation, Qatar Industrial Manufacturing, Aamal Company, Mesaieed Petrochemical Holding, United Development Company, Ezdan, Mazaya Qatar, Ooredoo, Milaha and Nakilat this week.
Nevertheless, Masraf Al Rayan, Qatar Cinema and Film Distribution, QLM, Mekdam Holding, Vodafone Qatar and Qatar National Cement were among the losers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value this week.
The Gulf institutions' net buying increased drastically to QR47.43mn compared to QR6.68mn the week ended March 30.
The foreign funds turned net buyers to the tune of QR29.76mn against net profit takers of QR86.29mn the previous week.
The Arab individual investors’ net selling declined substantially to QR8.09mn compared to QR23.45mn a week ago.
The Arab funds' net profit booking shrank considerably to QR8.31mn against QR20.84mn the week ended March 30.
However, the domestic funds turned net sellers to the extent of QR74.84mn compared with net buyers of QR74.81mn the previous week.
The Gulf individuals' net profit booking shot up markedly to QR14.73mn against QR1.25mn a week ago.
The foreign individuals were net sellers to the tune of QR1.13mn compared with net buyers of QR8.61mn the week ended March 30.
The local retail investors' net buying weakened perceptibly to QR29.92mn against QR41.74mn the previous week.
Total trade volume in the main market decreased 24% to 744.68mn shares, value by 22% to QR1.96bn, and deals by 21% to 69,158.
