Uncertainty over Federal Reserve's stand on interest rate and the US inflation data had their dampening effect on the Qatar Stock Exchange (QSE), which saw its key index

Gulf Times

plummet 243 points and market capitalisation erode more than QR11bn this week.

The foreign institutions’ increased net selling led the 20-stock Qatar Index plummet 2.54% this week which saw the Qatar Central Bank launch "Express Sandbox", the first of its kind in the Middle East.

The real estate and consumer goods counters witnessed higher than average selling pressure this week which saw Aamal Company enter into agreement with Masraf Al Rayan to purchase the latter's 50% stake in Ci San Trading, a joint venture, for QR32mn.

The Gulf institutions were seen increasingly net profit takers in the main market this week which saw Standard and Poor’s confirm Doha Insurance’s ‘A-‘ rating with stable outlook.

About 79% of the traded constituents were in the red in the main bourse this week which saw Qatari German Company for Medical Devices enter into a memorandum of understanding with Huawei Technologies to collaborate in the development of smart healthcare solutions.

However, the domestic funds were increasingly net buyers in the main market this week which saw Commercial Bank Financial Services to commence the liquidity provisioning for Doha Bank and its exchange traded fund QETF from next week.

The local retail investors were increasingly bullish this week which saw a total of 0.56mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR1.24mn trade across 51 deals.

The Arab individuals were seen increasingly net buyers in the main bourse which saw as many as 0.02mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.17mn change hands across 19 transactions.

The Islamic index was seen declining faster than the other indices in the main market this week which saw the banks and industrials sectors together constitute more than 58% of the total trade volumes.

Market capitalisation eroded QR11.44bn or 2.07% to QR541.84bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds.

Trade turnover and volumes were on the increase in both the main market this week which saw no trading of treasury bills.

In the case of venture market, trade turnover and volumes were on the rise this week.

The Total Return Index tanked 2.54%, the All Share Index by 2.19% and the All Islamic Index by 3.17% this week.

The realty sector index plunged 6.21%, consumer goods and services (5.94%), transport (2.38%), banks and financial services (2%), industrials (1.29%) and telecom (0.65%), while insurance gained 0.34% this week.

Major losers in the main market included Qatari German Medical Devices, Woqod, United Development Company, Medicare Group, Masraf Al Rayan, Commercial Bank, Ahlibank Qatar, QIIB, Dukhan Bank, Qatar Oman Investment, Alijarah Holding, Salam International Investment, Meeza, Baladna, Industries Qatar, Mesaieed Petrochemical Holding, Qamco, Barwa and Nakilat. In the venture market, Al Mahhar Holding saw its shares depreciate in value this week.

Nevertheless, Doha Insurance, Qatar General Insurance and Reinsurance, Vodafone Qatar, Al Meera and Qatar Electricity and Water were among the gainers in the main bourse this week.

The foreign funds’ net selling increased substantially to QR351.1mn compared to QR126.17mn the week ended May 23.

The Gulf institutions’ net selling strengthened significantly to QR88.89mn against QR28.62mn the previous week.

However, the domestic institutions’ net buying grew considerably to QR228.37mn compared to QR113.4mn a week ago.

The Qatari individuals’ net buying expanded drastically to QR168.32mn against QR29.81mn the week ended May 23.

The Arab retail investors’ net buying soared noticeably to QR27.09mn compared to QR3.47mn the previous week.

The foreign individual investors’ net buying shot up markedly to QR10.66mn against QR7.1mn a week ago.

The Gulf retail investors were net buyers to the tune of QR4.35mn compared with net sellers of QR0.43mn the week ended May 23.

The Arab institutions’ net buying grew marginally to QR1.21mn against QR0.58mn the previous week.

The main market witnessed about 1% expansion in trade volumes to 882.17mn shares, 31% in value to QR3.12bn and 10% in deals to 92,526 this week.

In the venture market, trade volumes zoomed 80% to 0.97mn equities, value by 77% to QR1.61mn and transactions by 27% to 74.
Related Story