Robust expectations about financial performance instilled optimism on the Qatar Stock Exchange, which gained more than 331 points in key index and capitalisation expanded more than QR17bn this week.
Foreign institutions were increasingly bullish to place the sensitive barometer near 10,200 levels this week which saw Qatalum (Qatar Aluminum) receive green signal for its initial public offering from the Qatar Financial Market Authority.
Industrials and consumer goods counters witnessed higher than average demand this week which saw Kamco, a regional economic think-tank, view that Qatar's fiscal breakeven price of oil has risen 95% between 2008 and 2018 compared to a high three-digit increase in the UAE and Saudi Arabia.
Mid, large and small cap segments saw heavy buying interests as the 20-stock Qatar Index settled 3.36% higher this week which saw Qatar’s industrial production saw robust gains this August both on yearly and monthly basis, mainly on the back of stronger hydrocarbons and manufacturing sectors.
Islamic stocks were seen gaining slower than the other indices on the market, which however made 19.59% gains year-to-date.
Domestic funds turned net buyers this week which saw no trading of treasury bills and sovereign bonds.
Market capitalisation expanded more than QR17bn or 3.17% to QR569.13bn this week. On a year-to-date basis, both large and midcap segments were seen appreciating 26.9% and 16.16% respectively.
The market witnessed a total volume of 8,894 QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR0.21mn trade across 24 transactions and as many as 17,054 QETF (Doha Bank sponsored ETF) valued at QR1.68mn change hands across 30 deals this week.
The Total Return Index soared 3.36%, All Share Index by 2.84% and Al Rayan Islamic Index (Price) by 2.56% this week which saw Doha Bank and QNB dominate trading ring in terms of volume and value.
The industrials index appreciated 5.58%, consumer goods (3.94%), transport (2.57%), banks and financial services (2.2%), realty (1.74%) and insurance (0.23%) this week.
About 80% of the traded stocks extended gains with major gainers being Mazaya Qatar, Industries Qatar, Commercial Bank, Qatar National Cement, Qatar Islamic Bank, Qatar Oman Investment, Ooredoo, Milaha and Nakilat; even as Dlala, Islamic Holding Group, Qatar Industrial Manufacturing, Widam Food and Zad Holding were among the losers this week which saw real estate, banking, industrials and telecom stocks constitute more than 88% of the total trading volume.
The realty sector constituted 34% of the total volume, banks and financial services (25%), industrials (16%), telecom (14%), transport (5%), consumer goods (4%) and insurance (2%); while in terms of trade turnover, banking sector’s share was 36% in the total, industrials (24%), consumer goods and realty (13% each), telecom and transport (6% each), and insurance (3%) this week.
Foreign institutions’ net buying strengthened considerably to QR172.08mn compared to QR67.95mn the previous week.
Domestic institutions turned net buyers to the tune of QR2.79mn against net sellers of QR32.82mn the week ended October 11.
Local retail investors’ net profit booking grew substantially to QR165.81mn compared to QR28.06mn a week ago.
Non-Qatari individual investors’ net selling grew marginally to QR9.16mn against QR7.07mn the previous week.
Total trade volume rose 51% to 31.21mn shares, value by 34% to QR995.86mn and transactions by 60% to 20,244 this week.
The real estate sector’s trade volume almost tripled to 10.5mn equities, value grew 55% to QR131.21mn and deals by 90% to 3,918.
The telecom sector’s trade volume more than doubled to 4.36mn stocks, value soared 88% to QR60.06mn and transactions by 63% to 1,601.
The banks and financial sector saw 34% surge in trade volume to 7.83mn shares, 42% in value to QR353.77mn and 67% in deals to 6,283.
The consumer goods sector’s trade volume soared 25% to 1.2mn equities, value by 8% to QR130.43mn and transactions by 58% to 2,034.
The insurance sector reported 20% expansion in trade volume to 0.73mn stocks and 22% in value to QR26.2mn on more than doubled deals to 758.
The industrials sector’s trade volume shot up 12% to 4.91mn shares, value by 38% to QR239.19mn and transactions by 39% to 4,272.
However, there was 41% plunge in the transport sector’s trade volume to 1.68mn equities and 11% in value to QR54.99mn but on 17% growth in deals to 1,378.
