Domestic institutions and non-Qatari individual investors were seen increasingly bullish on the Qatar Stock Exchange, which otherwise treaded along a negative trajectory this week.
Telecom and industrials counters witnessed some buying interests even as there was a 0.58% decline in the 20-stock Qatar Index this week which saw the US-based Institute of International Finance view that Qatar still remains in a strong position to meet domestic funding requirements, three months into diplomatic standoff with some neighbours.
There was a weakened net profit booking by foreign institutions this week which saw A M Best, a global insurance rating agency, affirm Doha Insurance Group's financial strength rating of ‘A- (Excellent)’ and the long-term issuer credit rating of “a-” with "stable" outlook.
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 industrials sector accounted for 31% of the total volume, banks and financial services (29%), telecom (23%), realty (12%), transport (3%), consumer goods (1%) and insurance (less than 1%) this week which saw Oman Qatar Insurance Company, a subsidiary of Qatar Insurance Group, see overwhelming response to its initial public offering that was launched early this month
The banks and financial services’ share in total trade turnover was 40%, industrials (28%), telecom (13%), real estate (9%), transport (6%), consumer goods (4%) and insurance (1%) this week which saw Arab Petroleum Investment Corporation find that the slowdown in domestic fuel consumption in the Gulf has helped the region’s sovereigns save millions and expand export portfolio.
Opening weak, the bearish run continued for the next day, taking the index to a 52-month low of 8,279 points, after which the market was on a gaining mode for the remainder of the session. However, the bullish pressure was not that strong as the index settled 49 points lower.
Major gainers included Gulf International Services, Barwa, Mazaya Qatar, Vodafone Qatar, Islamic Holding Group, Qatar Islamic Insurance, Dlala, QIIB and Widam Food; even as Gulf Warehousing, Qatar Insurance, Qatar Islamic Bank, Doha Bank, Qatar Oman Investment, Al Meera, Qatar National Cement and Ezdan were among the losers this week.
Domestic institutions’ net buying strengthened to QR56.48mn compared to QR32.59mn the previous week.
Non-Qatari individual investors’ net buying also increased perceptibly to QR8.04mn against QR2.01mn the week ago.
Non-Qatari funds’ net profit booking weakened to QR23.98mn compared to QR112.8mn the week ended September 14.
Local retail investors’ net buying declined substantially to QR19.57mn against QR78.21mn the previous week.
A total of 58.46mn shares valued at QR1.06bn traded across 12,122 transactions this week.
The industrials sector saw 17.87mn equities worth QR292.79mn change hands across 3,182 deals; banks and financial services saw 17.07mn stocks valued at QR419.41mn trade across 3,956 transactions, and telecom sector witness 13.29mn shares worth QR141.29mn change hands across 1,187 deals.
The real estate and transport saw 7.25mn and 1.99mn equities valued at QR91.21mn and QR59.06mn trade across 1,291 and 1,488 transactions respectively.
A total of 0.71mn and 0.28mn consumer goods and insurance stocks valued at QR40.22mn and QR13.69mn changed hands across 710 and 308 deals respectively.
There was a weakened net profit booking by foreign institutions this week which saw A M Best, a global insurance rating agency, affirm Doha Insurance Group's financial strength rating of ‘A- (Excellent)’ and the long-term issuer credit rating of “a-” with "stable" outlook.
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 industrials sector accounted for 31% of the total volume, banks and financial services (29%), telecom (23%), realty (12%), transport (3%), consumer goods (1%) and insurance (less than 1%) this week which saw Oman Qatar Insurance Company, a subsidiary of Qatar Insurance Group, see overwhelming response to its initial public offering that was launched early this month
The banks and financial services’ share in total trade turnover was 40%, industrials (28%), telecom (13%), real estate (9%), transport (6%), consumer goods (4%) and insurance (1%) this week which saw Arab Petroleum Investment Corporation find that the slowdown in domestic fuel consumption in the Gulf has helped the region’s sovereigns save millions and expand export portfolio.
Opening weak, the bearish run continued for the next day, taking the index to a 52-month low of 8,279 points, after which the market was on a gaining mode for the remainder of the session. However, the bullish pressure was not that strong as the index settled 49 points lower.
Major gainers included Gulf International Services, Barwa, Mazaya Qatar, Vodafone Qatar, Islamic Holding Group, Qatar Islamic Insurance, Dlala, QIIB and Widam Food; even as Gulf Warehousing, Qatar Insurance, Qatar Islamic Bank, Doha Bank, Qatar Oman Investment, Al Meera, Qatar National Cement and Ezdan were among the losers this week.
Domestic institutions’ net buying strengthened to QR56.48mn compared to QR32.59mn the previous week.
Non-Qatari individual investors’ net buying also increased perceptibly to QR8.04mn against QR2.01mn the week ago.
Non-Qatari funds’ net profit booking weakened to QR23.98mn compared to QR112.8mn the week ended September 14.
Local retail investors’ net buying declined substantially to QR19.57mn against QR78.21mn the previous week.
A total of 58.46mn shares valued at QR1.06bn traded across 12,122 transactions this week.
The industrials sector saw 17.87mn equities worth QR292.79mn change hands across 3,182 deals; banks and financial services saw 17.07mn stocks valued at QR419.41mn trade across 3,956 transactions, and telecom sector witness 13.29mn shares worth QR141.29mn change hands across 1,187 deals.
The real estate and transport saw 7.25mn and 1.99mn equities valued at QR91.21mn and QR59.06mn trade across 1,291 and 1,488 transactions respectively.
A total of 0.71mn and 0.28mn consumer goods and insurance stocks valued at QR40.22mn and QR13.69mn changed hands across 710 and 308 deals respectively.