Stronger buying interests — especially within transport, consumer goods and industrials counters — extended a 130 points thrust to the key index last week which saw QNB report 5% year-on-year jump in net profit to QR13.8bn in 2018.
Non-Qatar individuals’ weakened net selling also played its part this week, which saw Qatar's cost of living based on consumer price index decline 0.29% year-on-year in November 2018.
Notwithstanding the increase selling pressure from local retail investors, the 20-stock Qatar Index reported 1.22% gains in the week which saw Qatar's industrial production grow 2.2% year-on-year in December 2018.
More than 53% of the traded stocks extended gains with major movers being Nakilat, Gulf Warehousing, Milaha, Industries Qatar, Aamal Company, Qatar Electricity and Water, Zad Holding, Al Meera, United Development Company, Ahlibank Qatar, QIIB, Widam Food and Qatar National Cement this week which saw no trading of treasury bills.
Nevertheless, Qatar First Bank, Islamic Holding Group, Qatari German Company for Medical Devices, Qatari Investors Group, Gulf International Services, Ezdan and Mazaya Qatar were among the losers this week which saw no trading of sovereign bonds.
Islamic stocks were seen gaining faster than the main index and other indices on the market this week, which saw a total volume of 298,924 QATR (Masraf Al Rayan sponsored exchange traded fund or ETF) valued at QR0.72mn trade across 31 deals.
The Total Return Index shot up 1.22%, All Share Index by 0.72% and Al Rayan Islamic Index (Price) by 1.55% this week which some 6,000 QETF (Doha Bank sponsored ETF) valued at QR0.64mn change hands across 20 transactions.
The transport index shot up 5.74%, consumer goods (2.76%), industrials (2.55%), telecom (0.38%) and banks and financial services (0.04%); whereas realty and insurance declined 1.61% and 0.18% respectively this week which saw industrials and banking segments together account for about 63% of total trade volume.
The industrials index constituted 36% of the total volume, banks and financial services (26%), real estate (16%), consumer goods and transport (6% each), telecom (11%), (5%) and insurance (3%); while in terms of trade turnover, banks and financial services’ share was 38%, industrials (27%), consumer goods (11%), real estate (10%), transport (6%), telecom (5%) and insurance (3%) this week.
Foreign institutions’ net buying grew significantly to QR309.62mn compared to QR217.77mn the previous week.
Domestic funds’ net buying increased noticeably to QR22.36mn against QR16.19mn the week ended January 10.
Non-Qatari individuals’ net profit booking declined marginally to QR10.46mn compared to QR12.8mn a week ago.
However, Qataris net selling grew substantially to QR321.53mn against QR221.15mn the previous week.
Total trade volume fell 31% to 49.23mn shares, value by 1% to QR1.45bn and transactions by 11% to 33,745 this week.
The telecom sector’s trade volume plummeted 65% to 2.7mn equities, value by 32% to QR68.25mn and deals by 21% to 2,118.
The real estate sector reported 39% plunge in trade volume to 7.96mn stocks, 33% in value to QR143.78mn and 8% in transactions to 4,840.
The banks and financial sector’s trade volume tanked 32% to 13.03mn shares, while value rose 9% to QR549.29mn despite 21% lower deals at 6,796.
There was 26% shrinkage in the insurance sector’s trade volume to 1.34mn equities, 36% in value to QR41.86mn and 23% in transactions to 889.
The industrials sector’s trade volume shrank 26% to 17.95mn stocks, value by 5% to QR397.88mn and deals by 14% to 13,966.
The market witnessed 24% contraction in the consumer goods sector’s trade volume to 3.12mn shares but on 38% expansion in value to QR165.15mn and 30% in transactions to 3,115.
However, the transport sector’s trade volume surged 67% to 3.14mn equities, value by 79% to QR86.05mn and deals by 11% to 2,021.