Local retail investors and domestic institutions were seen supporting the Qatar Stock Exchange with their stronger buying support this week.
Non-Qatari individuals were also marginally bullish amidst 3.07% decline in the 20-stock Qatar Index that hit a multi-year low this week which saw Moody’s, a global credit rating agency, estimate Qatar’s about $40bn injection in the first two months of blockade to support the economy.
A marginal buying interest was seen within small cap segments amidst an overall bearish overhang this week which saw the QSE announce that the main barometer will figure Al Meera Consumer Goods Company, Qatar First Bank and Mazaya Qatar from October 1.
Islamic stocks were seen declining slower than the main index and other indices this week which witnessed no trading of treasury bills and sovereign bonds.
The telecom and banking sectors accounted for 31% each of the total volume, industrials (21%), realty and transport (7% each), consumer goods (2%) and insurance (1%) this week which saw Standard and Poor's, another international credit rating agency, affirm its 'BBB+' long-term insurer financial strength and counterparty credit ratings on Doha Bank Assurance Company.
The banks and financial services’ share in total trade turnover was 41%, industrials (17%), telecom (16%), transport (13%), consumer goods and real estate (5% each) and insurance (3%) this week which saw QSE-listed firms’ first half total net profit at QR20.08bn with the banking sector alone contributing about 54% of it.
Opening rather flat at 8,667 points, the market continued with its weak run for the rest of the week to touch a 52-month low of 8,409 points.
Major gainers included Qatar General Insurance and Reinsurance, Qatar First Bank, Medicare Group, Commercial Bank, Gulf Warehousing, Doha Bank, Al Meera and Industries Qatar; even as Milaha, Aamal Company, Qatari Investors Group, QIIB and Ooredoo were among the losers this week which saw Qatar's July industrial producers' earnings displayed robust performance year-on-year on higher prices for hydrocarbons, refined petroleum products, other chemical products and fibres.
Local retail investors were net buyers to the tune of QR78.21mn and their non-Qatari counterparts were also net buyers to the extent of QR2.01mn.
Domestic institutions were net buyers to the tune of QR32.59mn; whereas their foreign counterparts were net profit takers to the extent of QR112.8mn.
A total of 58.31mn shares valued at QR1.25bn traded across 15,360 transactions this week.
The telecom sector saw 18.23mn equities worth QR194.25mn change hands across 1,566 deals; banks and financial services witnessed 18mn stocks valued at QR508.78mn trade across 4,904 transactions and as many as 12.38mn industrial shares worth QR218.21mn change hands across 3,610 deals.
The real estate and transport saw 4.21mn and 3.82mn equities valued at QR67.98mn and QR164.66mn trade across 1,817 and 1,828 transactions respectively.
A total of 1.07mn and 0.61mn consumer goods and insurance stocks valued at QR62.55mn and QR36.94mn changed hands across 1,070 and 565 deals respectively.
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