The foreign institutions were seen increasingly into net profit booking as the 20-stock Qatar Index tanked 1.53% this week which saw the listed companies report a total net profit of QR24.55bn in the first half (H1) of this year.
The transport and banking counters witnessed higher than average selling pressure in the main bourse this week which saw Woqod extend its petroleum products’ sale and purchase agreement with the country’s hydrocarbon bellwether QatarEnergy.
As much as 60% of the traded constituents were in the red in the main market this week which saw Estithmar Holding’s subsidiary Elegancia Healthcare establish a branch in Iraq.
The domestic funds turned net sellers in the main bourse this week which saw the bourse announcement that Meeza will start trading from next week.
The Islamic index was seen declining slower than the other indices this week which saw Qatar’s consumer price index inflation surge 3.11% year-on-year in July 2023.
The local retail investors were seen bearish in the main market this week which saw Gulf International Services’ net profit at QR281mn in H1-2023.
The Arab institutions turned net profit takers, albeit at lower levels, in the main bourse this week which saw Qatar Insurance Company’s H1-2023 net profit at QR325mn.
The Gulf individuals were net sellers in the main market this week which saw a total of 0.05mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.11mn trade across 16 deals.
The Arab retail investors continued to be net profit takers but with lesser vigour in the main bourse this week which saw as many as 0.07mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.72mn change hands across 42 transactions.
Market capitalisation melted QR8.87bn or 1.41% to QR621.34bn on the back of large and midcap segments this week which saw the banks and industrials sectors together constitute more than 66% of the total trade volume in the main market.
The Total Return Index shed 1.53%, the All Share Index by 1.3% and the All Islamic Index by 1.18% this week, which saw no trading of sovereign bonds.
The transport sector index plummeted 1.77%, banks and financial services (1.76%), industrials (1.4%), telecom (1.14%) and consumer goods and services (0.72%); while insurance shot up 4.09% and real estate (0.03%) this week which saw no trading of treasury bills.
Major losers in the main market included Inma Holding, Mannai Corporation, Beema, Industries Qatar, QNB, Commercial Bank, QIIB, Masraf Al Rayan, Alijarah Holding, Widam Food, Estithmar Holding, Mazaya Qatar, Ooredoo, Nakilat and Gulf Warehousing. In the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value this week.
Nevertheless, Gulf International Services, Al Khaleej Takaful, Dlala, Qatar Insurance, QLM, Mekdam Holding, Qatar Industrial Manufacturing, Qamco and QLM were among the gainers. In the venture market, Mahhar Holding saw its shares appreciate in value this week.
The foreign funds’ net selling increased considerably to QR39.41mn compared to QR25.24mn the week ended August 10.
The domestic institutions turned net sellers to the tune of QR21.59mn against net buyers of QR30.27mn the previous week.
The local retail investors were net sellers to the extent of QR5.74mn compared with net buyers of QR8.19mn a week ago.
The Arab funds turned net profit takers to the tune of QR0.13mn against no major net exposure the week ended August 10.
The Gulf individuals were net sellers to the extent of QR0.1mn compared with net buyers of QR2.24mn the previous week.
However, the Gulf institutions’ net buying strengthened substantially to QR53.13mn against QR4.97mn a week ago.
The foreign individuals turned net buyers to the tune of QR16.04mn compared with net sellers of QR2.33mn the week ended August 10.
The Arab retail investors’ net profit booking weakened markedly to QR2.2mn against QR18.09mn the previous week.
The main market witnessed a 10% jump in trade volumes to 717.81mn shares, 9% in value to QR1.91bn and 8% in deals to 76,405 this week.
In the venture market, trade volumes almost doubled to 8.71mn equities and value more than doubled to QR19.28mn on 86% surge in transactions to 1,650.
