Brighter prospects in the global oil front helped lift sentiments in the Qatar Stock Exchange, which saw 142 points addition to its sensitive index and more than QR9bn to capitalisation this week.
Buying was squarely visible within banking and insurance counters, helping the market stay above 8,900 levels for most part of this week which saw QSE chief executive Rashid bin Ali al-Mansoori say that increased investments in new projects related to expansion of liquefied natural gas and those aimed at ensuring self-sufficiency as well as higher foreign ownership limits augur well for the economy and the bourse.
Foreign institutional investors’ substantial bullish outlook drove the Qatari bourse up 1.62% this week, which saw as many as eight listed companies being showcased before global investors at the London global investors meet.
More than 53% of the traded constituents extended gains this week which saw as many as 0.13mn sovereign bonds valued at QR1.31bn trade across five deals.
Notwithstanding the overall bullish momentum, local individuals and domestic institutions turned bearish this week which saw QNB and Commercial Bank dominated trading ring in volumes and value.
On a year-to-date basis, the bourse's benchmark showed more than 4% expansion mainly on robust demand for banking, consumer goods and industrials sectors, whose indices were up in double digits. Large and midcap scrips also performed well on a yearly basis.
The market witnessed a total volume of 0.05mn QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR2.75mn trade across 74 transactions and as many as 0.02mn QETF (Doha Bank sponsored ETF) valued at QR1.57mn change hands across 24 deals this week.
The Total Return Index soared 1.62% and All Share Index 1.7%; whereas Al Rayan Islamic Index (Price) was down 0.14% this week.
The banks and financial services index shot up 5.25% and insurance 4.21%; while telecom declined 2.9%, realty (1.83%), consumer goods (1.43%), transport (1.39%) and industrials (1.04%) this week.
Major gainers included QNB, Qatari Islamic bank, Commercial Bank, Qatar Insurance and Milaha; even as Medicare Group, Mesaieed Petrochemical Holding, Nakilat, Ezdan and Dlala were among the losers this week which saw banks, telecom and industrials sectors together accounted for about 71% of total trade volumes.
The banking and financial services sector accounted for 36% of the total trading volume, telecom (19%), industrials (15%), real estate (13%), transport (11%), consumer goods (3%) and insurance (2%) this week.
The banks and financial sector’s share in total trade turnover was 59%, industrials (18%), telecom (7%), transport (5%), consumer goods and realty (4% each) and insurance (2%) this week.
Non-Qatari institutions turned net buyers to the tune of QR296.52mn against net sellers of QR30.56mn the week ended May 10.
However, local retail investors turned net sellers to the extent of QR181.32mn compared with net buyers of QR17.77mn a week ago.
Domestic funds were also net profit takers to the tune of QR117.61mn against net buyers of QR7.03mn the previous week.
Non-Qatari individuals’ net buying weakened perceptibly to QR2.57mn compared to QR5.86mn the week ended May 10.
Total trade volume fell 10% to 43.54mn shares, while value grew 65% to QR1.61bn and transactions by 25% to 20,716.
The transport sector’s trade volume more than doubled to 4.92mn equities and value almost doubled to QR77.25mn on more than doubled deals to 2,471.
The banks and financial services sector saw 63% surge in trade volume to 15.78mn stocks to more than triple value to QR956.46mn on 60% jump in transactions to 7,606.
The real estate sector’s trade volume soared 49% to 5.63mn shares, value by 16% to QR63.29mn and deals by 30% to 2,349.
There was 20% expansion in the insurance sector’s trade volume to 1.08mn equities, 42% in value to QR37.34mn and 11% in transactions to 674.
However, the telecom sector’s trade volume plummeted 56% to 8.46mn stocks, value by 48% to QR120.38mn and deals by 24% to 2,250.
The industrials sector reported 41% plunge in trade volume to 6.5mn shares but on 23% expansion in value to QR286.08mn and 16% in transactions to 4,236.
The consumer goods sector’s trade volume tanked 32% to 1.17mn equities, value by 33% to QR68.09mn and deals by 30% to 1,130.
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