Oil price strength and strong gains made after Doha opted out of the oil grouping helped the Qatar Stock Exchange add 234 points in the main barometer and QR7bn in capitalisation this week.
An across the board buying – mainly telecom and industrials – lifted the sentiments in this week this week which saw three of the five days witness buying interests.
About 76% of the traded stocks extended gains this week which saw Qamco (Qatar Aluminium Manufacturing Company) being legally incorporated and will make its debut on December 16.
Notwithstanding the bearish non-Qatari individuals and weakened buying of foreign funds, the 20-stock Qatar Index gained 2.26% this week which saw the QSE launch a unified electronic disclosure system project using XBRL language (Extensible Business Reporting Language) as part of efforts to strengthen disclosure practices and enhance the efficiency of data dissemination.
Islamic stocks were seen gaining faster than the other indices on the market, which showed more than 24% gains year-to-date.
Market capitalisation expanded 1.18% to QR595.35bn this week mainly on account of mid, micro and large cap equities.
Large and midcap segments saw 35.36% and 18.93% gains; whereas small and microcaps declined 10.07% and 3.33% respectively.
The market witnessed a total volume of 11,863 QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR0.29mn trade across 27 transactions and as many as 5,000 QETF (Doha Bank sponsored ETF) valued at QR0.52mn change hands across 12 deals this week.
The Total Return Index gained 2.26%, All Share Index by 1.59% and Al Rayan Islamic Index (Price) by 3.25% this week which saw no trading of sovereign bonds and treasury bills.
The telecom index soared 3.43%, industrials (2.24%), realty (2.18%), consumer goods and services (1.97%), transport (1.55%), insurance (1.46%) and banks and financial services (0.92%) this week which saw Fitch, an international rating agency, view that fiscal reforms are expected to be at a "measured" pace in the Gulf Cooperation Council (GCC) in 2019.
Major movers included Vodafone Qatar, Ooredoo, Barwa, Qatar National Cement, Alijarah Holding, Doha Bank, Masraf Al Rayan, Qatari German Company for Medical Devices, Qatar Islamic Bank, Industries Qatar, Aamal Company, Qatar Electricity and Water, Mazaya Qatar and Nakilat; even as QNB, Commercial Bank, Ahlibank and Qatar Oman Investment were among the losers this week which saw banking and real estate stocks constitute about 65% of the total trading volume.
The banks and financial services constituted 37% of the total volume, realty (28%), telecom (12%), industrials (11%), transport (6%), consumer goods (4%) and insurance (1%); while in terms of trade turnover, banks and financial sector’s share was 49%, real estate (17%), industrials (15%), consumer goods (7%), telecom (6%), transport (5%) and insurance (1%) this week which saw Mazaya Qatar and Doha Bank dominate the trading ring in volume and value.
Qataris net selling declined perceptibly to QR203.69mn compared to QR212.83mn the week ended November 22.
Domestic funds’ net profit booking weakened considerably QR11.29mn against QR88.98mn the previous week.
However, non-Qatari individuals turned net sellers to the tune of QR19.82mn compared with net buyers of QR4.18mn a week ago.
Foreign institutions’ net buying declined significantly to QR234.67mn against QR297.63mn the previous week.
Total trade volume fell 32% to 42.9mn shares, value by 40% to QR1.25bn and transactions by 27% to 24,782 this week.
The banks and financial sector’s trade volume plummeted 51% to 15.75mn equities, value by 44% to QR609.54mn and deals by 37% to 10,229.
The real estate sector reported 42% plunge in trade volume to 12.13mn stocks, 64% in value to QR208.52mn and transactions by 35% to 6,101.
The insurance sector’s trade volume tanked 19% to 0.59mn shares and value by 10% to QR22.19mn; while deals were up 2% to 579.
However, the consumer goods sector’s trade volume soared 77% to 1.72mn equities, while value was down 1% to QR91.29mn despite 23% higher transactions at 1,499.
There was 71% surge in the transport sector’s trade volume to 2.7mn stocks, 46% in value to QR62.44mn and 19% in deals to 1,264.
The telecom sector’s trade volume shot up 45% to 5.16mn shares; whereas value shrank 11% to QR75.41mn and transactions by 21% to 1,732.
The industrials sector saw 42% expansion in trade volume to 4.84mn equities and 7% in value to QR184.84mn but on 2% fall in deals to 3,378.