The Qatar Stock Exchange witnessed 44 points decline this week which saw the advent of Qatar Aluminium Manufacturing Company (Qamco) with a big bang.
Local retail investors’ increased selling pressure was visible this week which saw the FTSE Russell decide to include the newly-listed Qamco in its indices from December 24.
Telecom, consumer goods and transport counters witnessed strong profit booking pressure as the 20-stock Qatar Index declined 0.42% this week which saw QSE chief executive Rashid bin Ali al-Mansoori forecast that Qatar's corporate sector is slated to see more listings in 2019.
About 70% of the traded stocks were in the red with major losers being Vodafone Qatar, Gulf Warehousing, Qatar Electricity and Water, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Qatar First Bank, QNB, Doha Bank, Salam International Investment and Nakilat this week which saw global insurance rating agency A M Best affirm Qatar Insurance Company's financial strength rating of 'A (Excellent)' and the Long-Term Issuer Credit Rating of “a”.
Nevertheless, Qatar Islamic Bank, Commercial Bank, Widam Food, Industries Qatar, Mazaya Qatar, Ezdan and Zad Holding were among the gainers this week which saw Qatar's consumer price index inflation decline 0.24% year-on-year in November.
Islamic stocks were seen declining faster than the other indices in the market, which however saw about 1% jump in market capitalisation to QR593.975bn this week.
The market witnessed a total volume of 11,657 QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR0.27mn trade across 24 transactions and as many as 2,201 QETF (Doha Bank sponsored ETF) valued at QR0.23mn change hands across 12 deals this week which saw no trading of sovereign bonds and treasury bills.
The Total Return Index fell 0.42%, All Share Index by 0.58% and Al Rayan Islamic Index (Price) by 0.86% this week which saw industrials segment alone account for about 76% of total trade volume.
The telecom index shed 1.52%, consumer goods (1.28%), transport (1.14%), industrials (0.58%), banks and financial services (0.54%) and insurance (0.54%); while realty was up 0.1% this week.
The industrials index constituted 76% of the total volume, banks and financial services (11%), real estate (6%), telecom (3%), transport (2%), and consumer goods and insurance (1% each); while in terms of trade turnover, industrials sector’s share was 59%, banks and financial sector (26%), real estate (6%), consumer goods (3%), telecom and transport (2% each) and insurance (1%) this week.
Qataris net selling increased substantially to QR238.99mn compared to QR14.82mn the week ended December 13.
However, foreign institutions’ net buying grew significantly to QR201.49mn against QR55.01mn a week ago.
Non-Qatari individuals’ net buying strengthened considerably to QR36.93mn compared to QR8.46mn the previous week.
Domestic funds were net buyers to the tune of QR0.57mn against net sellers of QR48.64mn the week ended December 13.
Total trade volume more than tripled to 96.08mn shares and value more than doubled to QR1.89bn on more than tripled transactions to 66,457 this week.
The industrials sector’s trade volume grew about 21-fold to 72.83mn equities and value by more than eight-fold to QR1.12bn and deals by about 18-fold to 53,528.
However, the transport sector’s trade volume plummeted 26% to 1.95mn stocks and value by 24% to QR44.74mn, while transactions were up 2% to 1,142.
The banks and financial sector saw 22% plunge in trade volume to 10.45mn shares but on 18% increase in value to QR499.15mn despite 18% lower deals at 5,826.
The consumer goods sector’s trade volume tanked 21% to 1.33mn equities and value by 17% to QR56.04mn, whereas transactions grew 6% to 1,293.
There was 12% shrinkage in the telecom sector’s trade volume to 2.83mn stocks, 21% in value to QR46mn and 25% in deals to 1,323.
The insurance sector’s trade volume shrank 14% to 0.65mn shares, value by 15% to QR22.11mn and transactions by 29% to 561.
However, the real estate sector reported 2% jump in trade volume to 6.05mn equities and 7% in value to QR110.41mn but on 17% decline in deals to 2,784.