The Qatar Stock Exchange suffered more than 330 points meltdown in its key index and about QR22bn in capitalisation this week as foreign institutions squared off their position.
Telecom and real estate counters witnessed higher selling pressure this week, which saw Qatar tap the global debt market with $12bn bonds.
Non-Qatari individuals were also net profit takers as the 20-stock Qatar Index plunged 3.27% this week which saw Doha Bank outlines its strategy to strengthen the technological platform to improve the operating costs by 5% in the next two years.
About 69% of the traded constituents were in the red this week which saw services and real estate sectors witness robust credit offtake this January, leading to a more than 3% year-on-year jump in total domestic credit.
Major losers included Industries Qatar, Ooredoo, Vodafone Qatar, Milaha, QNB, Doha bank, Alijarah Holding, Salam International Investments, Aamal Company, Qatar Electricity and Water, United Development Company, Ezdan and Gulf Warehousing this week which saw no trading of sovereign bonds.
Nevertheless, Commercial Bank, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Doha Insurance and Nakilat were among the prime gainers this week which saw no trading of treasury bills.
Islamic stocks were seen declining slower than the other indices in the market this week which saw Qatar Electricity and Water Company disclosed that the "Siraj Solar Energy" project is expected to produce about 700 MW of electricity in the fourth quarter of 2021.
The Total Return Index plummeted 2.25%, All Share Index by 2.73% and Al Rayan Islamic Index (Price) by 3.13% this week which as many as 2,124 Masraf Al Rayan bank sponsored exchange traded fund QATR valued at 0.05mn traded across five transactions.
The telecom index plunged 4.63%, real estate (3.92%), industrials (3.05%), banks and financial services (2.68%), consumer goods (1.97%) and transport (1.28%); while insurance gained 1.45% this week which saw industrials, banking and realty segments together account for more than 81% of total trade volume.
The industrials sectors constituted 45% of the total volume, banks and financial services (19%), real estate (18%), telecom (8%), transport and insurance (4% each), and consumer goods (3%) this week which saw a total of 16,508 Doha Bank sponsored QETF worth QR1.66mn changed hands across nine deals.
In terms of value, industrials’ share was 36%, banks and financial services (31%), real estate (11%), consumer goods (9%), telecom (6%), and insurance and telecom (4% each) this week.
Foreign institutions turned net sellers to the tune of QR42.7mn compared with net buyers of QR112.86mn a week ago.
Non-Qataris were also net sellers to the extent of QR13.95mn against net buyers of QR6.63mn the week ended February 28.
Domestic funds’ net buying weakened noticeably to QR56.17mn compared to QR94.08mn the previous week.
However, Qatari retail investors turned net buyers to the tune of QR0.48mn against net profit takers of QR213.56mn a week ago.
Total trade volume fell 32% to 33.06mn shares, value by 39% to QR961.79mn and transactions by 23% to 23,348 this week.
The real estate sector’s trade volume plummeted 65% to 5.95mn equities, value by 64% to QR102.54mn and deals by 54% to 3,849.
The consumer goods sector reported 63% plunge in trade volume to 0.88mn stocks, 63% in value to QR82.6mn and 44% in transactions to 1,352.
The banks and financial sector’s trade volume tanked 42% to 6.22mn shares, value by 51% to QR302.6n and deals by 19% to 5,150.
The transport sector reported 25% shrinkage in trade volume to 1.45mn equities, 34% in value to QR34.46mn and 7% in transactions to 1,077.
The insurance sector’s trade volume declined 23% to 1.19mn stocks, value by 28% to QR39.29mn and deals by 1% to 1,031.
However, there was 17% surge in the telecom sector’s trade volume to 2.62mn shares but on 4% fall in value to QR57.94mn despite 5% higher transactions at 2,046.
The industrials sector’s trade volume soared 12% to 14.74mn equities and value by 19% to QR342.36mn, whereas deals were down less than 1% to 8,843.
Non-Qatari individuals were also net profit takers as the 20-stock Qatar Index plunged 3.27% this week which saw Doha Bank outlines its strategy to strengthen the technological platform to improve the operating costs by 5% in the next two years.
About 69% of the traded constituents were in the red this week which saw services and real estate sectors witness robust credit offtake this January, leading to a more than 3% year-on-year jump in total domestic credit.
Major losers included Industries Qatar, Ooredoo, Vodafone Qatar, Milaha, QNB, Doha bank, Alijarah Holding, Salam International Investments, Aamal Company, Qatar Electricity and Water, United Development Company, Ezdan and Gulf Warehousing this week which saw no trading of sovereign bonds.
Nevertheless, Commercial Bank, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Doha Insurance and Nakilat were among the prime gainers this week which saw no trading of treasury bills.
Islamic stocks were seen declining slower than the other indices in the market this week which saw Qatar Electricity and Water Company disclosed that the "Siraj Solar Energy" project is expected to produce about 700 MW of electricity in the fourth quarter of 2021.
The Total Return Index plummeted 2.25%, All Share Index by 2.73% and Al Rayan Islamic Index (Price) by 3.13% this week which as many as 2,124 Masraf Al Rayan bank sponsored exchange traded fund QATR valued at 0.05mn traded across five transactions.
The telecom index plunged 4.63%, real estate (3.92%), industrials (3.05%), banks and financial services (2.68%), consumer goods (1.97%) and transport (1.28%); while insurance gained 1.45% this week which saw industrials, banking and realty segments together account for more than 81% of total trade volume.
The industrials sectors constituted 45% of the total volume, banks and financial services (19%), real estate (18%), telecom (8%), transport and insurance (4% each), and consumer goods (3%) this week which saw a total of 16,508 Doha Bank sponsored QETF worth QR1.66mn changed hands across nine deals.
In terms of value, industrials’ share was 36%, banks and financial services (31%), real estate (11%), consumer goods (9%), telecom (6%), and insurance and telecom (4% each) this week.
Foreign institutions turned net sellers to the tune of QR42.7mn compared with net buyers of QR112.86mn a week ago.
Non-Qataris were also net sellers to the extent of QR13.95mn against net buyers of QR6.63mn the week ended February 28.
Domestic funds’ net buying weakened noticeably to QR56.17mn compared to QR94.08mn the previous week.
However, Qatari retail investors turned net buyers to the tune of QR0.48mn against net profit takers of QR213.56mn a week ago.
Total trade volume fell 32% to 33.06mn shares, value by 39% to QR961.79mn and transactions by 23% to 23,348 this week.
The real estate sector’s trade volume plummeted 65% to 5.95mn equities, value by 64% to QR102.54mn and deals by 54% to 3,849.
The consumer goods sector reported 63% plunge in trade volume to 0.88mn stocks, 63% in value to QR82.6mn and 44% in transactions to 1,352.
The banks and financial sector’s trade volume tanked 42% to 6.22mn shares, value by 51% to QR302.6n and deals by 19% to 5,150.
The transport sector reported 25% shrinkage in trade volume to 1.45mn equities, 34% in value to QR34.46mn and 7% in transactions to 1,077.
The insurance sector’s trade volume declined 23% to 1.19mn stocks, value by 28% to QR39.29mn and deals by 1% to 1,031.
However, there was 17% surge in the telecom sector’s trade volume to 2.62mn shares but on 4% fall in value to QR57.94mn despite 5% higher transactions at 2,046.
The industrials sector’s trade volume soared 12% to 14.74mn equities and value by 19% to QR342.36mn, whereas deals were down less than 1% to 8,843.
