The Qatar Stock Exchange witnessed more than 64% of the traded constituents decline but overall it settled 126 points higher this week, riding on the waves of increased foreign ownership limits (FOLs) in certain underlying scrips.
A substantially weakened net selling pressure rather helped the local bourse settle at 8,918 points although the key barometer remained above 9,000 levels in the penultimate two days this week which saw Qatar Central Securities Depository amend FOLs in Industries Qatar (IQ), Qatar Islamic Bank (QIB), Qatar Electricity and Water (QEWS) and Qatar Industrial Manufacturing.
Strong demand, especially for large cap equities, helped the bourse add more than QR9bn in capitalisation this week which saw QNB Group report 7% year-on-year jump in net profit to QR3.4bn in the first three months of this year.
Industrials and banking counters witnessed stronger demand this week, which witnessed Capital Intelligence, the international credit rating agency, affirm QIB’s financial strength rating of ‘A’ with a ‘stable’ outlook.
Notwithstanding the bearish outlook of local and non-Qatari retail investors, the 20-stock Qatar Index settled 1.43% this week, which saw global credit rating agency Fitch affirm Doha Bank’s long term issuer default rating (IDR) at ‘A’.
The Islamic stocks, nevertheless, were seen gaining slower than the conventional ones this week which saw Mazaya Qatar Real Estate Development Company approve a proposal from Granada Real Estate Investment Company, a subsidiary of Mazaya Qatar, to acquire Tornado Company, the owner of Tornado Tower in West Bay.
The market witnessed a total volume of 0.67mn QATR valued at QR15.76mn trade across 444 transactions and as many as 0.13mn QETF valued at QR12.58mn change hands across 100 deals this week, which saw Qatar's cost of living, based on consumer price index (CPI), grew 0.4% year-on-year this March.
The Total Return Index soared 1.43%, All Share Index 1.32% and Al Rayan Islamic Index 0.68% this week which saw no trading of treasury bills and sovereign bonds.
The industrials index surged 4.04% and banks and financial services (2.03%); whereas insurance declined 1.92%, transport (1.74%), consumer goods (1.44%), telecom (0.72%) and realty (0.39%) this week which saw Mesaieed Petrochemical Holding (MPHC) and Doha Bank dominated trading ring in volumes and value.
Major movers included IQ, MPHC, QEWS, QNB, QIB, Commercial Bank, Aamal Company and Gulf International Services this week which saw industrials, banking, telecom and real estate sectors accounted for more than 87% of total trade volumes.
The industrials sector accounted for 34% of the total volume, banks and financial services (24%), telecom (15%), realty (14%), transport (5%), and consumer goods and insurance (4% each) this week.
The industrials’ share in total trade turnover was 36%, banks and financial services (33%), consumer goods (10%), real estate (7%), telecom (6%), and transport and insurance (4% each) this week.
Domestic funds’ net selling weakened significantly to QR11.05mn compared to QR134.12mn the week ended April 5.
However, local retail investors turned net sellers to the tune of QR44.9mn against net buyers of QR51.16mn the previous week.
Non-Qatari individuals were also net sellers to the extent of QR18.51mn compared with net buyers of QR7.98mn a week ago.
Non-Qatari institutions’ net buying declined marginally to QR74.45mn against QR75.23mn the week ended April 5.
Total trade volume fell 16% to 48.77mn shares, while value fell 13% to QR1.43bn despite 1% lower transactions at 17,559.
The market witnessed 37% plunge in the telecom sector’s trade volume to 7.32mn equities, 27% in value to QR87.03mn and 9% in deals to 1,661.
The real estate sector’s trade volume plummeted 33% to 7.06mn stocks, value by 37% to QR94.88mn and transactions by 31% to 2,096.
The banks and financial services sector saw 22% shrinkage in trade volume to 11.66mn shares but on 27% jump in value to QR476.14mn and 20% in deals to 5,623.
However, the insurance sector’s trade volume soared 44% to 1.73mn equities and value by 93% to QR63.4mn, while transactions declined 11% to 559.
There was 12% surge in the consumer goods sector’s trade volume to 1.82mn stocks, 3% in value to QR144.76mn and 1% in deals to 1,878.
The industrials sector’s trade volume expanded 7% to 16.59mn shares and value by 34% to QR513.38mn; whereas transactions were down 2% to 4,598.
The transport sector’s trade volume was up 7% to 2.59mn equities but on 11% slump in value to QR54.9mn despite 15% higher deals at 1,144.
Strong demand, especially for large cap equities, helped the bourse add more than QR9bn in capitalisation this week which saw QNB Group report 7% year-on-year jump in net profit to QR3.4bn in the first three months of this year.
Industrials and banking counters witnessed stronger demand this week, which witnessed Capital Intelligence, the international credit rating agency, affirm QIB’s financial strength rating of ‘A’ with a ‘stable’ outlook.
Notwithstanding the bearish outlook of local and non-Qatari retail investors, the 20-stock Qatar Index settled 1.43% this week, which saw global credit rating agency Fitch affirm Doha Bank’s long term issuer default rating (IDR) at ‘A’.
The Islamic stocks, nevertheless, were seen gaining slower than the conventional ones this week which saw Mazaya Qatar Real Estate Development Company approve a proposal from Granada Real Estate Investment Company, a subsidiary of Mazaya Qatar, to acquire Tornado Company, the owner of Tornado Tower in West Bay.
The market witnessed a total volume of 0.67mn QATR valued at QR15.76mn trade across 444 transactions and as many as 0.13mn QETF valued at QR12.58mn change hands across 100 deals this week, which saw Qatar's cost of living, based on consumer price index (CPI), grew 0.4% year-on-year this March.
The Total Return Index soared 1.43%, All Share Index 1.32% and Al Rayan Islamic Index 0.68% this week which saw no trading of treasury bills and sovereign bonds.
The industrials index surged 4.04% and banks and financial services (2.03%); whereas insurance declined 1.92%, transport (1.74%), consumer goods (1.44%), telecom (0.72%) and realty (0.39%) this week which saw Mesaieed Petrochemical Holding (MPHC) and Doha Bank dominated trading ring in volumes and value.
Major movers included IQ, MPHC, QEWS, QNB, QIB, Commercial Bank, Aamal Company and Gulf International Services this week which saw industrials, banking, telecom and real estate sectors accounted for more than 87% of total trade volumes.
The industrials sector accounted for 34% of the total volume, banks and financial services (24%), telecom (15%), realty (14%), transport (5%), and consumer goods and insurance (4% each) this week.
The industrials’ share in total trade turnover was 36%, banks and financial services (33%), consumer goods (10%), real estate (7%), telecom (6%), and transport and insurance (4% each) this week.
Domestic funds’ net selling weakened significantly to QR11.05mn compared to QR134.12mn the week ended April 5.
However, local retail investors turned net sellers to the tune of QR44.9mn against net buyers of QR51.16mn the previous week.
Non-Qatari individuals were also net sellers to the extent of QR18.51mn compared with net buyers of QR7.98mn a week ago.
Non-Qatari institutions’ net buying declined marginally to QR74.45mn against QR75.23mn the week ended April 5.
Total trade volume fell 16% to 48.77mn shares, while value fell 13% to QR1.43bn despite 1% lower transactions at 17,559.
The market witnessed 37% plunge in the telecom sector’s trade volume to 7.32mn equities, 27% in value to QR87.03mn and 9% in deals to 1,661.
The real estate sector’s trade volume plummeted 33% to 7.06mn stocks, value by 37% to QR94.88mn and transactions by 31% to 2,096.
The banks and financial services sector saw 22% shrinkage in trade volume to 11.66mn shares but on 27% jump in value to QR476.14mn and 20% in deals to 5,623.
However, the insurance sector’s trade volume soared 44% to 1.73mn equities and value by 93% to QR63.4mn, while transactions declined 11% to 559.
There was 12% surge in the consumer goods sector’s trade volume to 1.82mn stocks, 3% in value to QR144.76mn and 1% in deals to 1,878.
The industrials sector’s trade volume expanded 7% to 16.59mn shares and value by 34% to QR513.38mn; whereas transactions were down 2% to 4,598.
The transport sector’s trade volume was up 7% to 2.59mn equities but on 11% slump in value to QR54.9mn despite 15% higher deals at 1,144.
