As much as three-fourth of the traded constituents were in the red as the 20-stock Qatar Index plummeted 2.34% this week which saw the market heavyweight Industries Qatar (IQ) outline capital expenditure of QR10.8bn for the next five years.
The Gulf institutions were seen net profit takers this week which saw Mesaieed Petrochemical Holding (MPHC) outline capital expenditure of QR2.1bn for 2024-28.
The foreign institutions turned bearish this week which saw Doha Bank’s $500mn bond issue oversubscribe four times.
The Arab funds were seen net sellers this week which saw Qatar Financial Centre’s purchasing managers’ index suggest that the country’s non-energy private sector see a stronger improvement in business conditions in February.
The Arab individuals continued to be net profit takers but with lesser intensity this week which saw Estithmar Holding ink pact with South Korea’s EHL Bio to promote stem cell therapy.
The real estate, banking and industrials counters witnessed a lower than average selling pressure in the main market this week which saw a total of 0.09mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.21mn trade across 24 deals.
The foreign funds’ substantially weakened net buying had its influence in the main bourse this week which saw as many as 0.07mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.71mn change hands across 31 transactions.
The Islamic index was seen declining faster than the other indices in the main market this week which saw the banks and industrials together constitute about 58% of the total trade volumes.
Market capitalisation eroded QR15.59bn or 2.58% to QR588.17bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.
Trade volumes and turnover were on the decline in both the main bourse and junior market this week, which saw the Qatar Central Bank launch Fawran, a fast and efficient domestic instant payment system, as part of its efforts to reduce reliance on cash and lower the associated costs.
The Total Return Index shed 0.81%, the All Share Index by 0.78% and the All Islamic Index by 2.47% this week.
The realty sector index tanked 1.94%, banks and financial services (1.52%) and industrials (0.59%); while insurance shot up 3.95%, transport (0.48%), telecom (0.16%) and consumer goods and services (0.09%) this week.
Major losers in the main market included Qatari Investors Group, Barwa, IQ, Qatar Industrial Manufacturing, Ooredoo, QNB, Alijarah Holding, Inma Holding, Salam International Investment, MPHC, Estithmar Holding, Ezdan and Mazaya Qatar this week.
Nevertheless, Qatar Cinema and Film Distribution, Gulf Warehousing, Mannai Corporation, Qatar Electricity and Water, Qatar Insurance and Gulf International Services were among the gainers in the main bourse. In the venture market, Mahhar Holding saw its shares appreciate in value this week.
The Gulf institutions turned net sellers to the tune of QR28.53mn compared with net buyers of QR32.39mn the week ended February 29.
The foreign funds were net profit takers to the extent of QR21.35mn against net buyers of QR127.13mn the previous week.
The Arab institutions turned net sellers to the tune of QR0.2mn compared with no major net exposure a week ago.
The domestic funds’ net selling declined drastically to QR22.46mn against QR139.58mn the week ended February 29.
However, Qatari individuals turned net buyers to the extent of QR19.39mn compared with net sellers of QR256.86mn the previous week.
The foreign retail investors were net buyers to the tune of QR9.19mn against net buyers of QR25.89mn a week ago.
The Gulf individuals turned net buyers to the extent of QR1.68mn compared with net buyers of QR5.44mn the week ended February 29.
The Arab retail investors’ net selling weakened noticeably to QR2.63mn against QR10.91mn the previous week.
The main market witnessed a 54 contraction in trade volumes to 643.7mn shares, 52% in value to QR2.01bn and 38% in deals to 66,407 this week.
In the venture market, trade volumes tanked 44% to 1.22mn equities, value by 42% to QR2.02mn and transactions by 40% to 208.