Islamic stocks surged about 2% in an otherwise flat trajectory on the Qatar Stock Exchange during the week, which saw Gulf bourses by and large discount the US election results.
A sustained stronger net buying by foreign institutions notwithstanding, the local bourse managed to gain a mere 0.05% during the week, which saw Donald Trump emerge victorious as the US president, which led to an initial panic selling in the global bourses. However, domestic institutions’ net profit booking strengthened and local retail investors turned bearish during the week.
“There have been inconsistencies in his (Trump’s) approach in his campaigns, which is leading to more uncertainties. This rather affected the sentiments of especially domestic institutions,” an analyst with a leading brokerage company said.
Ever since the initial rout, the Gulf bourses were by and large resilient, although investors have adopted a cautious approach, waiting for clear signals from Washington on its interest and oil exploration policies in the medium term.
During the week, industrials, telecom and consumer goods counters witnessed higher than average buying interests from investors.
Trade turnover and volumes were on the rise during the week which witnessed banking, industrials, telecom and real estate together constitute more than 88% of the total volumes.
In volumes, the banks and financial services constituted 26% of the total, followed by industrials (24%), telecom (19%), real estate (16%), consumer goods (10%), transport and insurance (2% each).
In value, industrials’ share was 32%, banks and financial services (31%), consumer goods (15%), realty (9%), telecom (7%), insurance (3%) and transport (2%).
Opening the week weak at 9,949 points, the market nevertheless saw gains for the subsequent two days to reach a high of 9,985 points on Tuesday. There was an initial plunge of more than 2% on Wednesday on the US developments but managed to recover much of the lost grounds but to settle down marginally.
The continued net selling drove the index further down on Thursday but overall it reported about five-point gains during the week. The Qatari bourse has however reported year-to-date losses of 4.49%.
Al Rayan Islamic Index had risen 1.98% and the 20-stock Total Return Index by a marginal 0.05%; while All Share Index (comprising wider constituents) was down mere 0.01% during the week, which saw banking and telecom stocks make faster expansion in trade volumes.
Industrials sector saw its index surge 3.2%, telecom (2.56%), consumer goods (1.52%) and transport (0.14%); whereas banks and financial services shrank 1.85%, insurance (1.53%) and realty (0.06%) during the week.
Market capitalisation was however down 0.1% or QR52mn to QR535.8bn during the week.
Of the 44 stocks, as many as 23 rose, while 17 fell and four were unchanged. Seven each of the nine consumer goods and the eight industrials, three of the 13 banks and financial services, two each of the five insurers and the four real estate, and one each of the three transport and the two telecom stocks settled higher during the week.
More than 52% of the stocks extended gains with major movers being Industries Qatar, Qatari Investors Group, Aamal Company, Gulf International Services, Ooredoo, Barwa, Mazaya Qatar, Masraf Al Rayan, Nakilat, Qatari German Company for Medical Devices, Medicare Group, Widam Food and Islamic Holding Group.
Nevertheless, QNB, Qatar Insurance, Ezdan, Vodafone Qatar, QIB, Commercial Bank, Doha Bank and Qatar First Bank were among the losers.
Foreign institutions’ net buying increased substantially to QR684.55mn compared to QR513.63mn the week ended November 3.
Non-Qatari individual investors’ net buying strengthened to QR9.34mn against QR5.99mn the previous week.
However, domestic institutions’ net profit booking strengthened considerably to QR679.34mn compared to QR527.5mn the week ended November 3.
Local retail investors turned net sellers to the tune of QR14.73mn against net buyers of QR7.72mn the previous week.
Total trade volume rose 17% to 46.78mn shares, value by 14% to QR1.8bn and transactions by 2% to 18,574 during the week.
The banks and financial services sector saw 61% surge in trade volume to 12.33mn equities, 84% in value to QR560.86mn and 25% in deals to 5,393.
The telecom sector’s trade volume surged 24% to 8.7mn stocks, value by 12% to QR131.76mn and transactions by 4% to 1,857.
There was 15% expansion in the real estate sector’s trade volume to 7.65mn shares and 19% in value to QR165.73mn but on 7% fall in deals to 3,731.
The insurance sector’s trade volume enhanced 11% to 0.89mn equities, value by 16% to QR49.03mn and transactions by 40% to 482.
The market witnessed 10% increase in the industrials sector’s trade volume to 11.26mn stocks, 7% in value to QR577.78mn and 19% in deals to 4,198.
However, the transport sector’s trade volume plummeted 35% to 1.06mn shares, value by 38% to QR32.81mn and transactions by 10% to 822.
The consumer goods sector reported 19% plunge in trade volume to 4.88mn equities, 27% in value to QR278.27mn and 37% in deals to 2,091.
In the debt market, there was no trading of treasury bills and government bonds during the week.
“There have been inconsistencies in his (Trump’s) approach in his campaigns, which is leading to more uncertainties. This rather affected the sentiments of especially domestic institutions,” an analyst with a leading brokerage company said.
Ever since the initial rout, the Gulf bourses were by and large resilient, although investors have adopted a cautious approach, waiting for clear signals from Washington on its interest and oil exploration policies in the medium term.
During the week, industrials, telecom and consumer goods counters witnessed higher than average buying interests from investors.
Trade turnover and volumes were on the rise during the week which witnessed banking, industrials, telecom and real estate together constitute more than 88% of the total volumes.
In volumes, the banks and financial services constituted 26% of the total, followed by industrials (24%), telecom (19%), real estate (16%), consumer goods (10%), transport and insurance (2% each).
In value, industrials’ share was 32%, banks and financial services (31%), consumer goods (15%), realty (9%), telecom (7%), insurance (3%) and transport (2%).
Opening the week weak at 9,949 points, the market nevertheless saw gains for the subsequent two days to reach a high of 9,985 points on Tuesday. There was an initial plunge of more than 2% on Wednesday on the US developments but managed to recover much of the lost grounds but to settle down marginally.
The continued net selling drove the index further down on Thursday but overall it reported about five-point gains during the week. The Qatari bourse has however reported year-to-date losses of 4.49%.
Al Rayan Islamic Index had risen 1.98% and the 20-stock Total Return Index by a marginal 0.05%; while All Share Index (comprising wider constituents) was down mere 0.01% during the week, which saw banking and telecom stocks make faster expansion in trade volumes.
Industrials sector saw its index surge 3.2%, telecom (2.56%), consumer goods (1.52%) and transport (0.14%); whereas banks and financial services shrank 1.85%, insurance (1.53%) and realty (0.06%) during the week.
Market capitalisation was however down 0.1% or QR52mn to QR535.8bn during the week.
Of the 44 stocks, as many as 23 rose, while 17 fell and four were unchanged. Seven each of the nine consumer goods and the eight industrials, three of the 13 banks and financial services, two each of the five insurers and the four real estate, and one each of the three transport and the two telecom stocks settled higher during the week.
More than 52% of the stocks extended gains with major movers being Industries Qatar, Qatari Investors Group, Aamal Company, Gulf International Services, Ooredoo, Barwa, Mazaya Qatar, Masraf Al Rayan, Nakilat, Qatari German Company for Medical Devices, Medicare Group, Widam Food and Islamic Holding Group.
Nevertheless, QNB, Qatar Insurance, Ezdan, Vodafone Qatar, QIB, Commercial Bank, Doha Bank and Qatar First Bank were among the losers.
Foreign institutions’ net buying increased substantially to QR684.55mn compared to QR513.63mn the week ended November 3.
Non-Qatari individual investors’ net buying strengthened to QR9.34mn against QR5.99mn the previous week.
However, domestic institutions’ net profit booking strengthened considerably to QR679.34mn compared to QR527.5mn the week ended November 3.
Local retail investors turned net sellers to the tune of QR14.73mn against net buyers of QR7.72mn the previous week.
Total trade volume rose 17% to 46.78mn shares, value by 14% to QR1.8bn and transactions by 2% to 18,574 during the week.
The banks and financial services sector saw 61% surge in trade volume to 12.33mn equities, 84% in value to QR560.86mn and 25% in deals to 5,393.
The telecom sector’s trade volume surged 24% to 8.7mn stocks, value by 12% to QR131.76mn and transactions by 4% to 1,857.
There was 15% expansion in the real estate sector’s trade volume to 7.65mn shares and 19% in value to QR165.73mn but on 7% fall in deals to 3,731.
The insurance sector’s trade volume enhanced 11% to 0.89mn equities, value by 16% to QR49.03mn and transactions by 40% to 482.
The market witnessed 10% increase in the industrials sector’s trade volume to 11.26mn stocks, 7% in value to QR577.78mn and 19% in deals to 4,198.
However, the transport sector’s trade volume plummeted 35% to 1.06mn shares, value by 38% to QR32.81mn and transactions by 10% to 822.
The consumer goods sector reported 19% plunge in trade volume to 4.88mn equities, 27% in value to QR278.27mn and 37% in deals to 2,091.
In the debt market, there was no trading of treasury bills and government bonds during the week.
