he Qatar Stock Exchange showed signs of touching 10,300 levels in the initial days of this week but overall it settled 80 points lower despite increased buying support from domestic institutions.
Consumer goods, real estate and industrials counters witnessed higher than selling pressure this week which saw Qatar Insurance Group pins hopes on the country’s robust economic resilience and the “fading” impact of the blockade, yet it is “cautiously” optimistic this year as it plans global expansion through the newly formed QIC Global.
Foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index settled 0.78% lower this week which saw global credit rating agency Standard and Poor's view that market conditions in Qatar to remain highly competitive for the insurance sector this year and profitability is likely to weaken on the increased provisions for bad debt and ageing receivables companies.
More than 67% of the traded constituents were in the red this week which saw Washington-based economic think-tank the Institute of International Finance say that Qatar can not only withstand crisis domestically but also assert its influence on the broader region.
Major losers included Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Al Khaliji, Industries Qatar, Islamic Holding Group, Qatar Electricity and Water, Qatar Insurance, Ezdan, Ooredoo, Mazaya Qatar, Salam International Investment, Qatari German Company for Medical Devices, Mannai Corporation and Widam Food this week which saw Aamal Company report net profit of QR445.3mn and propose 6% cash dividend in 2018.
Nevertheless, QIIB, QNB, Nakilat, Gulf Warehousing, Milaha and Al Meera were among the prime gainers this week which saw Ahlibank Qatar shareholders approve the board’s plans to increase the capital by 10% through bonus shares.
Islamic stocks were seen declining faster than the other indices in the market this week which saw Qatar’s trade surplus grew about 1% year-on-year to QR15.84bn in January 2019 as imports fell faster than exports.
The Total Return Index was up a marginal 0.02% and All Share Index by 0.07%, while Al Rayan Islamic Index (Price) declined 1.74% this week which witnessed no trading of treasury bills and sovereign bonds.
The consumer goods index plunged 2.69%, realty (2.5%), industrials (1.5%) and telecom (0.85%); whereas transport gained 3.14%, banks and financial services (1.78%) and insurance (0.27%) this week which saw real estate, industrials and banking segments together account for more than 83% of total trade volume.
The realty sector constituted 35% of the total volume, industrials (27%), banks and financial services (22%), telecom and consumer goods (5% each), transport (4%) and insurance (3%) this week which saw Qatar’s cost of living, based on consumer price index, fell 0.;3% year-on-year during the fourth quarter of 2018.
In terms of value, banks and financial sector’s share was 39%, industrials and real estate (18% each), consumer goods (14%), telecom (4%), and transport and insurance (3% each) this week.
As many as 9,217 Masraf Al Rayan bank sponsored exchange traded fund QATR valued at QR0.23mn traded across nine transactions and a total of 6,270 Doha Bank sponsored QETF worth QR0.64mn changed hands across 17 deals this week.
Foreign institutions’ net buying declined significantly to QR112.86mn compared to QR300.02mn a week ago.
However, domestic funds’ net buying increased noticeably to QR94.08mn against QR76.22mn the previous week.
Non-Qataris turned net buyers to the tune of QR6.63mn compared with net sellers of QR37.06mn the week ended February 21.
Qatari retail investors’ net profit booking eased considerably to QR213.56mn against QR339.18mn a week ago.
Total trade volume fell 7% to 48.92mn shares, value by 2% to QR1.58bn and transactions by 4% to 30,217 this week.
The industrials sector’s trade volume plummeted 43% to 13.15mn equities, value by 38% to QR287.31n and deals by 30% 8,875.
There was 21% plunge in the telecom sector’s trade volume to 2.24mn stocks but on 31% increase in value to QR60.38mn and 4% in transactions to 1,947.
The consumer goods sector’s trade volume tanked 12% to 2.38mn shares, value by 28% to QR222.68mn and deals by 5% to 2,421.
The banks and financial sector saw 2% fall in trade volume to 10.74mn equities but on 10% increase in value to QR619.31n and 9% in transactions to 6,393.
However, the real estate sector’s trade volume soared 66% to 16.93mn stocks, value by 74% to QR281.8mn and deals by 36% to 8,379.
The transport sector reported 32% surge in trade volume to 1.93mn shares, 63% in value to QR52.59mn and 48% in transactions to 1,156.
The insurance sector’s trade volume expanded 13% to 1.54mn equities and value by 23% to QR54.38mn, whereas deals shrank 23% to 1,046.
Foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index settled 0.78% lower this week which saw global credit rating agency Standard and Poor's view that market conditions in Qatar to remain highly competitive for the insurance sector this year and profitability is likely to weaken on the increased provisions for bad debt and ageing receivables companies.
More than 67% of the traded constituents were in the red this week which saw Washington-based economic think-tank the Institute of International Finance say that Qatar can not only withstand crisis domestically but also assert its influence on the broader region.
Major losers included Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Al Khaliji, Industries Qatar, Islamic Holding Group, Qatar Electricity and Water, Qatar Insurance, Ezdan, Ooredoo, Mazaya Qatar, Salam International Investment, Qatari German Company for Medical Devices, Mannai Corporation and Widam Food this week which saw Aamal Company report net profit of QR445.3mn and propose 6% cash dividend in 2018.
Nevertheless, QIIB, QNB, Nakilat, Gulf Warehousing, Milaha and Al Meera were among the prime gainers this week which saw Ahlibank Qatar shareholders approve the board’s plans to increase the capital by 10% through bonus shares.
Islamic stocks were seen declining faster than the other indices in the market this week which saw Qatar’s trade surplus grew about 1% year-on-year to QR15.84bn in January 2019 as imports fell faster than exports.
The Total Return Index was up a marginal 0.02% and All Share Index by 0.07%, while Al Rayan Islamic Index (Price) declined 1.74% this week which witnessed no trading of treasury bills and sovereign bonds.
The consumer goods index plunged 2.69%, realty (2.5%), industrials (1.5%) and telecom (0.85%); whereas transport gained 3.14%, banks and financial services (1.78%) and insurance (0.27%) this week which saw real estate, industrials and banking segments together account for more than 83% of total trade volume.
The realty sector constituted 35% of the total volume, industrials (27%), banks and financial services (22%), telecom and consumer goods (5% each), transport (4%) and insurance (3%) this week which saw Qatar’s cost of living, based on consumer price index, fell 0.;3% year-on-year during the fourth quarter of 2018.
In terms of value, banks and financial sector’s share was 39%, industrials and real estate (18% each), consumer goods (14%), telecom (4%), and transport and insurance (3% each) this week.
As many as 9,217 Masraf Al Rayan bank sponsored exchange traded fund QATR valued at QR0.23mn traded across nine transactions and a total of 6,270 Doha Bank sponsored QETF worth QR0.64mn changed hands across 17 deals this week.
Foreign institutions’ net buying declined significantly to QR112.86mn compared to QR300.02mn a week ago.
However, domestic funds’ net buying increased noticeably to QR94.08mn against QR76.22mn the previous week.
Non-Qataris turned net buyers to the tune of QR6.63mn compared with net sellers of QR37.06mn the week ended February 21.
Qatari retail investors’ net profit booking eased considerably to QR213.56mn against QR339.18mn a week ago.
Total trade volume fell 7% to 48.92mn shares, value by 2% to QR1.58bn and transactions by 4% to 30,217 this week.
The industrials sector’s trade volume plummeted 43% to 13.15mn equities, value by 38% to QR287.31n and deals by 30% 8,875.
There was 21% plunge in the telecom sector’s trade volume to 2.24mn stocks but on 31% increase in value to QR60.38mn and 4% in transactions to 1,947.
The consumer goods sector’s trade volume tanked 12% to 2.38mn shares, value by 28% to QR222.68mn and deals by 5% to 2,421.
The banks and financial sector saw 2% fall in trade volume to 10.74mn equities but on 10% increase in value to QR619.31n and 9% in transactions to 6,393.
However, the real estate sector’s trade volume soared 66% to 16.93mn stocks, value by 74% to QR281.8mn and deals by 36% to 8,379.
The transport sector reported 32% surge in trade volume to 1.93mn shares, 63% in value to QR52.59mn and 48% in transactions to 1,156.
The insurance sector’s trade volume expanded 13% to 1.54mn equities and value by 23% to QR54.38mn, whereas deals shrank 23% to 1,046.
