Buying pressure was largely seen in the realty and telecom sectors during the week which saw Doha Bank reiterate its plans to establish a wholly-owned subsidiary in India.
Opening the week strong at 9,571 points on Sunday, the market kept gaining for the next three days to reach a high of 9,919 points on Wednesday as global oil prices rebounded to reach an eight-month high of more than $52 a barrel.
On the last day, the index fell, reflecting the mild profit booking in the oil market, but overall the 20-stock Qatar Index settled 304 points or 3.19% higher during the week.
The 20-stock Total Return Index soared 3.19%, All Share Index (comprising wider constituents) by 2.7% and Al Rayan Islamic Index 2.77% during the week which saw the overall trade turnover and volumes on the increase.
Real estate stocks shot up 5.26%, telecom (4.45%), banks and financial services (2.94%), industrials (2.23%), transport (0.81%) and consumer goods (0.19%); whereas insurance fell 1.18% during the week which witnessed banking, telecom, real estate and industrials stocks constituted more than 87% of the trading volume.
Market capitalisation soared 2.84% or about QR15bn to QR531.84bn during the week.
Of the 44 stocks, as many 30 appreciated, while only 11 declined and one was unchanged. Two were not traded during the week.
Nine of the 13 banks and financial services; six of the nine industrials; all of the four realty; three each of the eight consumer goods, the three transport and the five insurers; and all the two telecom stocks close higher during the week.
More than 71% of the scrips extended gains with major movers being QNB, Industries Qatar, Ezdan, Barwa, Mazaya Qatar, Ooredoo, Gulf Warehousing, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Alijarah Holding, Widam Food, GIS and Mesaieed Petrochemical Holding during the week.
However, Qatar First Bank, Dlala, Islamic Holding Group, Medicare Group, Qatari German Company for Medical Devices and Ahli Bank were among those which bucked the trend during the week.
Foreign institutions turned net buyers to the tune of QR158.3mn against net sellers of QR21.68mn the week ended June 2.
However, domestic institutions turned net sellers to the extent of QR41.49mn compared with net buyers of QR16.23mn the previous week.
Local retail investors were also net sellers to the tune of QR90.42mn against net buyers of QR28.17mn the week ended June 2.
Non-Qatari individual investors’ net profit booking increased to QR26.27mn compared to QR22.83mn the previous week.
Total trade volume rose 13% to 29.86mn shares and value by 5% to QR1.09bn but transactions were down 6% to 14,304 during the week.
The telecom sector saw 84% surge in trade volume to 6.83mn equities and 32% in value to QR103.29mn but on 26% decline in deals to 1,729.
The consumer goods sector’s trade volume soared 62% to 2.06mn stocks, value by 22% to QR93.73mn and transactions by 20% to 1,681.
The banks and financial services sector reported 32% expansion in trade volume to 11.09mn shares, 41% in value to QR535.67mn and 5% in deals to 4,406.
The real estate sector’s trade volume was up 8% to 4.54mn equities, value by 3% to QR88.15mn and transactions by 18% to 2,268.
However, there was 51% plunge in the transport sector’s trade volume to 0.98mn stocks, 33% in value to QR40.93mn and 17% in deals to 810.
The insurance sector’s trade volume plummeted 40% to 0.79mn shares, value by 41% to QR54.02mn and transactions by 37% to 569.
The market witnessed 34% shrinkage in the industrials sector’s trade volume to 3.57mn equities, 35% in value to QR178.93mn and 18% in deals to 2,841.
In the debt market, there was no trading of treasury bills and government bonds during the week.
