The Qatar Stock Exchange saw an impressive QR5bn addition in capitalisation amid an overall marginally bearish run this week which witnessed the advent of the world’s largest single-country exchange traded fund ‘QATR’ in Doha’s financial landscape.
Insurance and real estate counters witnessed a robust double-digit increase in their stocks value despite a 22 point decline on the local bourse this week, which also witnessed reports that Doha Bank and Masraf Al Rayan contemplating more ETFs.
The increased net selling by local and non-Qatari individuals rather played the spoilsport in the market this week which saw Nakilat disclose that it has seen $11bn investments in its liquefied natural gas carriers.
There was also a substantial weakening of the buying interests of foreign institutions, which led the 20-stock Qatar Index shrink 0.25% this week which saw Capital Intelligence, the international credit rating agency, affirm QNB's financial strength rating at ‘AA-’.
Nevertheless, domestic institutions’ profit booking weakened significantly this week which saw Milaha’s selective international expansion and cost optimisation as well as strengthening of the domestic operations to generate higher returns for shareholders.
Islamic stocks were seen gaining vis-a-vis an overall bearish overhang this week which saw United Development Company’s (UDC) intent to launch a new island project as part of its QR5.5bn estimated investment for the next five years.
Profit booking was squarely visible within small and large cap segments this week which saw a total of 3mn QATR valued at QR72.21mn change hands across 1,849 deals.
The Total Return Index gained 0.59%, All Share Index by 2.49%, Al Rayan Islamic Index by 1.51% and Al Rayan Islamic Index (Price) by 0.83% this week which saw a total of 0.07mn QETFs valued at QR6.7mn 145 transactions.
The insurance index soared 13.09%, realty (10.07%), industrials (3.01%), telecom (2.79% and consumer goods (0.47%); whereas transport declined 1.35% and bank and financial services by 0.79% this week which saw Commercial Bank shareholder give nod for capital raising up to $2bn.
Major losers included Milaha, UDC, Nakilat, Ahli Bank and Qatar Oman Investment; while Ezdan, Qatar Insurance, Gulf International Services, Vodafone Qatar and Alijarah Holding were among the gainers this week which saw banking, industrials and telecom accounted for about 71% of total trade volumes.
The banks and financial services sector accounted for 30% of the total volume, industrials (22%), telecom (19%), realty (13%), insurance (9%), transport (5%) and consumer goods (3%) this week which saw no trading of sovereign bonds and treasury bills.
The banks and financial services’ share in total trade turnover was 36%, industrials (20%), insurance (15%), telecom (10%), real estate (8%), and consumer goods and transport (6% each) this week.
Local retail investors’ net selling increased perceptibly to QR59.53mn compared to QR52.42mn the week ended March 15.
Non-Qatari individuals’ net profit booking grew influentially to QR46.63mn against QR32.45mn the previous week.
Non-Qatari funds’ net buying weakened considerably to QR110.63mn compared to QR413.3mn a week ago.
However, domestic institutions’ net selling declined significantly to QR4.3mn against QR328.14mn the week ended March 15.
Total trade volume fell 15% to 76.7mn shares, value by 40% to QR1.65bn and transactions by 15% to 24,688.
The transport sector reported 55% plunge in trade volume to 3.93mn equities, 73% in value to QR97.61mn and 26% in deals to 2,001.
The insurance sector’s trade volume plummeted 55% to 6.72mn stocks, value by 51% to QR244.78mn and transactions by 30% to 2,133.
There was 28% shrinkage in the real estate sector’s trade volume to 9.69mn shares, 44% in value to QR134.77mn and 16% in deals to 3,604.
The industrials sector’s trade volume tanked 19% to 16.55mn equities, value by 37% to QR324.32mn and transactions by 11% to 4,964.
However, the market witnessed 80% surge in the telecom sector’s trade volume to 14.89mn stocks, 29% in value to QR160.64mn and 16% in deals to 2,784.
The consumer goods sector’s trade volume grew 27% to 1.92mn shares, whereas value was down 2% to QR103.2mn and transactions by less than 1% to 1,682.
The banks and financial services sector saw 1% rise in trade volume to 23mn equities but on 37% fall in value to QR588.27mn and 20% in deals to 7,520.