Substantially robust buying interests of foreign institutions was, to a great extend, masked by stronger selling pressure from local retail investors that the Qatar Stock Exchange settled marginally higher (0.07%) this week.
The real estate, transport, telecom and consumer goods counters witnessed stronger buying interests last week, which saw Capital Intelligence (CI) affirm Qatar’s long-term foreign and local currency issuer ratings at ‘AA-’ and short-term foreign and local currency issuer ratings at ‘A1+’.
Non-Qatari individuals were increasingly net profit takers while domestic funds continued to be net sellers but with lesser intensity last week which saw Doha Bank sponsored exchange traded fund QETF achieve a total return of 20% during 2018, outperforming most ETFs in the world.
Gainers outnumbered decliners by a smaller margin this week which saw Qatar's total exports make a robust growth, leading to an about 7% year-on-year jump in trade surplus to QR15.88bn in December 2018.
Major gainers included Nakilat, Qatari German Company for Medical Devices, Qatar National Cement, United Development Company and Islamic Holding Group; even as Widam Food, Qatari Investors Group, Doha Bank and Al Khaleej Takaful were among the losers this week which saw CI affirm QNB's financial strength rating (FSR) at ‘AA-’.
Islamic stocks were seen gaining slower than the main index and other indices in the market this week, which saw no trading of treasury bills.
A total of 3,825 QATR (Masraf Al Rayan sponsored ETF) valued at QR0.1mn trade across eight deals and as many as 5,752 QETF (Doha Bank sponsored ETF) valued at QR0.61mn change hands across 13 transactions this week which saw CI affirm Qatar Islamic Bank’s FSR at ‘A’, with a "stable" outlook.
The Total Return Index rose 0.07%, All Share Index by 0.35% and Al Rayan Islamic Index (Price) by 0.06% this week which saw robust hydrocarbons and manufacturing sector help Qatar's industrial producers' earnings register an about 10% growth year-on-year in December 2018.
The realty index soared 3.14%, transport (2.6%), telecom (1.24%) and consumer goods (1.14%); whereas insurance declined 1.59%, industrials (1.15%) and banks and financial services (0.19%) this week which saw banking, industrials and real estate segments together account for about 80% of total trade volume.
The banks and financial sector constituted 29% of the total volume, industrials (26%), real estate (25%), transport (7%), telecom (6%), consumer goods (4%) and insurance (3%) this week.
In terms of value, banks and financial sector’s share was 42%, industrials (22%), real estate (14%), consumer goods (11%), transport (5%), and insurance and telecom (3% each) this week.
Foreign institutions’ net buying grew significantly to QR383.82mn compared to QR235.19mn the previous week.
Domestic funds’ net profit booking declined perceptibly to QR2.17mn against QR7.15mn the week ended January 24.
However, Qatari individuals net selling increased substantially to QR367.15mn compared to QR224.34mn a week ago.
Non-Qatari individuals’ net profit booking strengthened noticeably to QR14.5mn against QR3.69mn the previous week.
Total trade volume rose 9% to 42.64mn shares, value by 17% to QR1.36bn and transactions by 13% to 29,083 this week.
The real estate sector’s trade volume more than doubled to 10.54mn equities and value soared 85% to QR191.83mn on almost doubled deals to 5,924.
The telecom sector reported 87% surge in trade volume to 2.73mn stocks but on 11% decline in value to QR45.14mn despite 7% higher transactions at 1,649.
The consumer goods sector’s trade volume shot up 46% to 1.82mn shares and value by 40% to QR142.36mn, while deals were down 5% to 2,229.
The transport sector saw 24% expansion in trade volume to 2.81mn equities and 6% in value to QR68.73mn but on 8% fall in transactions to 1,366.
The industrials sector’s trade volume was up less than 1% to 10.97mn stocks, value by 9% to QR298.11mn and deals by 7% to 9,643.
However, the banks and financial sector witnessed 24% plunge in trade volume to 12.52mn shares but on 10% growth in value to QR565.09mn and 1% in transactions to 7,190.
The insurance sector’s trade volume tanked 22% to 1.24mn equities and value by 1% to QR44.02mn, while deals were up 9% to 1,082.