The Qatar Stock Exchange overcame the stupendous fall on the first day to finally settle in the positive trajectory this week.
Foreign funds’ increased selling was largely instrumental in lifting the overall sentiments this week which saw three of the five days come under selling pressure.
Telecom, real estate and transport counters witnessed higher than average buying interests this week which saw Qatar Industrial Manufacturing Company announce its plans to be a founding partner with a 50% stake in the equity capital of “Gulf Glass Factory”.
Non-Qatari individuals were net buyers this week as the 20-stock Qatar Index gained 0.35% this week which saw Qatar National Cement Company commence the production of white cement after it obtained the necessary licenses for the product.
Islamic stocks were however seen declining vis-à-vis gains in the other indices on the market, which showed about 22% gains year-to-date.
There was increased net selling pressure from both local retail investors and domestic funds this week which saw no trading of sovereign bonds and treasury bills.
Market capitalisation expanded about QR5bn or 0.78% to QR588.4bn this week mainly on account of microcap equities.
Large and midcap segments saw 33.55% and 16.06% gains; whereas small and microcaps declined 10.93% and 4.74% respectively.
The market witnessed a total volume of 2,085 QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR0.05mn trade across eight transactions and as many as 2,535 QETF (Doha Bank sponsored ETF) valued at QR0.26mn change hands across 11 deals this week which saw robust surge in the shipments of crude and non-crude helped Qatar more than double its trade surplus year-on-year to QR18.99bn in October 2018.
The Total Return Index gained 0.35% and All Share Index by 0.96%, while Al Rayan Islamic Index (Price) fell 0.2% this week which saw Qatar Chamber view that balanced economic policies and robust relations with various countries across the globe helped Qatar tackle the ongoing trade and economic siege.
The telecom index soared 3.44%, realty (3.18%), transport (1.01%), banks and financial services (0.82%) and insurance (0.26%); whereas industrials and consumer goods declined 0.37% and 0.2% respectively this week.
Some 60% of the stocks extended gains with major movers being Doha Insurance, Ezdan, Salam International Investment, Doha Bank, Ooredoo, Aamal Company, Mazaya Qatar, Nakilat and Qatari German Company for Medical Devices; even as Alijarah Holding, Barwa, Qatar Electricity and Water, Qatar Islamic Insurance and Mesaieed Petrochemical Holding were among the losers this week which saw banking and real estate stocks constitute about 84% of the total trading volume.
The banks and financial services constituted 51% of the total volume, realty (33%), telecom (6%), industrials (5%), transport (3%), consumer goods (2%) and insurance (1%); while in terms of trade turnover, banks and financial sector’s share was 52%, real estate (28%), industrials (8%), consumer goods and telecom (4% each), transport (2%) and insurance (1%) this week which saw Doha Bank, Barwa and Masraf Al Rayan dominate the trading ring in volume and value.
Foreign institutions’ net buying increased significantly to QR297.63mn against QR209.64mn the previous week.
Non-Qatari individuals were net buyers to the tune of QR4.18mn compared with net sellers of QR16.72mn a week ago.
However, Qataris net selling rose substantially to QR212.83mn against QR153.67mn the week ended November 22.
Domestic funds’ net profit booking strengthened considerably QR88.98mn compared to QR39.25mn the previous week.
Total trade volume more than doubled to 63.21mn shares and value almost doubled to QR2.09bn on 68% increase in transactions to 34,001 this week.
The real estate sector’s trade volume almost quadrupled to 20.9mn equities and value more than quadrupled to QR581.99mn on more than tripled deals to 9,369.
The banks and financial sector’s trade volume more than tripled to 32.06mn stocks and value more than doubled to QR1.09bn on more than doubled transactions to 16,137.
The transport sector’s trade volume soared 46% to 1.58mn shares, value by 55% to QR42.86mn and deals by 18% to 1,059.
The market witnessed 36% surge in the industrials sector’s trade volume to 3.41mn equities, 57% in value to QR172.76mn and 5% in transactions to 3,462.
The insurance sector’s trade volume shot up 20% to 0.73mn stocks, value by 28% to QR24.7mn and deals by 30% to 570.
However, there was 37% plunge in the consumer goods sector’s trade volume to 0.97mn shares, 51% in value to QR91.97mn and 52% in transactions to 1,221.
The telecom sector’s trade volume declined 13% to 3.56mn equities and value by 16% to QR85.2mn; whereas deals grew 13% to 2,183.