The Qatar Stock Exchange saw share price appreciation in more than 62% of the traded constituents last week that saw Doha expressing interests on dual listing of exchange traded funds on the US bourse Nasdaq.
Consumer goods, banking and industrials counters witnessed higher than average demand this week which saw Qatar Central Bank raise deposit rate by 0.25%, reflecting the similar increase in the key benchmark rates by the US Federal Reserve.
The weakened selling pressure from domestic institutions and local retail investors was rather instrumental in the 0.18% jump in the 20-stock Qatar Index this week which saw Qatar’s move to increased liquefied natural gas production by another 10mn tonnes per annum to a total of 110mn tonnes a year.
There was a weakened net buying support from both non-Qatari institutions and individuals on the market, which has seen 14.79% gains year-to-date.
On the back of fast gains in large caps, market capitalisation enhanced more than QR3bn or 0.62% to QR546.66bn this week which saw reports that the adoption of IFRS 9 appears to have strengthened provision coverage in Qatar's commercial banks.
On a year-to-date basis, both large and midcap segments were seen appreciating 22.58% and 12.55% respectively.
The market witnessed a total volume of 2,790 QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR0.06mn trade across five transactions and as many as 7,750 QETF (Doha Bank sponsored ETF) valued at QR0.75mn change hands across 10 deals this week which saw no trading of treasury bills and sovereign bonds.
The Total Return Index rose 0.18% and All Share Index by 0.38%, while Al Rayan Islamic Index (Price) declined 0.27% this week.
The consumer goods index soared 4.38%, banks and financial services (0.82%), industrials (0.71%) and telecom (01.7%); whereas insurance declined 3.76%, transport (3.49%) and realty (0.22%) this week which saw banking, industrials and real estate stocks constitute about 79% of the total trading volume.
Major gainers included Woqod, Gulf International Services, Qatar Islamic Bank, Widam Food and Qatar Industrials Manufacturing, QNB, Mesaieed Petrochemical Holding and Ooredoo; while Doha Bank, Dlala, Qatar Insurance, United Development Company, Nakilat, Aamal Company, Mazaya Qatar, Barwa, Vodafone Qatar, Nakilat, Milaha and Gulf Warehousing were among the losers this week.
The banking sector constituted 34% of total volume, industrials (27%), real estate (18%), telecom (6%), consumer goods (5%) and transport (4%); while in terms of trade turnover, banking sector’s share was 44% in the total, industrials (20%), consumer goods (16%), realty (8%), insurance (5%), telecom (3%) and transport (2%) this week.
Domestic institutions’ net selling weakened significantly to QR151.55mn compared to QR200mn the week ended September 20.
Local retail investors’ net profit booking declined considerably to QR100.25mn against QR104.39mn a week ago.
However, foreign institutions’ net buying shrank perceptibly to QR246.28mn compared to QR291.16mn the previous week.
Non-Qatari individual investors’ net buying declined to QR5.52mn against QR13.1mn the week ended September 20.
Total trade volume fell 13% to 32.61mn, value by 9% to QR1.23bn and transactions by 1% to 17,663 this week.
The telecom sector’s trade volume plummeted 59% to 2.08mn equities, value by 47% to QR39.83mn and deals by 31% to 1,038.
The real estate sector reported 40% plunge in trade volume to 5.71mn stocks, 61% in value to QR103.65mn and 11% in transactions to 2,872.
The insurance sector’s trade volume tanked 32% to 1.72mn shares, value by 32% to QR65.34mn and deals by 23% to 647.
The consumer goods sector saw 6% decline in trade volume to 1.71mn equities but on 43% surge in value to QR202.12mn and 19% in transactions to 1,766.
The transport sector’s trade volume was down 4% to 1.38mn stocks, value by 27% to QR29.5mn and deals by 25% to 852.
However, there was 38% expansion in the industrials sector’s trade volume to 8.91mn shares and 13% in value to QR243.66mn but on 15% fall in transactions to 3,552.
The banks and financial sector’s trade volume grew 5% to 11.1mn equities, value by 5% to QR543mn and deals by 27% to 6,936.
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