The Qatar Stock Exchange saw its key index break 10,200 levels intra-week but overall it settled a tad below those levels amidst higher volumes.
Weakened net selling pressure from local retail investors rather led the bourse settle high this week which saw stronger earnings growth, especially in the insurance and industrials sectors, helped the listed companies improve the overall profitability during 2018.
Insurance, transport and consumer goods counters witnessed robust to moderate buying interests, thus helping the 20-stock Qatar Index inch near the 10,200 levels this week.
The weakened net selling pressure from non-Qatari individuals also helped the market stay positive this week which saw global credit rating agency A M Best affirm the financial strength rating of 'B++ (Good)' and the long-term issuer credit rating of “bbb+” of Qatar Islamic Insurance Company.
More than 52% of the traded constituents extended gains this week which saw Salam International Investment shareholders approve stock split whereby each share with a face value of QR10 will be split into 10 stocks of QR1 each.
Major gainers included Qatar Insurance, Qatar General and Reinsurance, Al Khaleej Takaful, Mazaya Qatar, United Development Company, Gulf Warehousing, Nakilat, Qatar Islamic Bank, Commercial Bank, Islamic Holding Group, Dlala, Zad Holding and Woqod this week which saw a sharp expansion in new contracts and robust output expectations have helped boost sentiments in the Qatar's non-hydrocarbon private sector in March this year.
Nevertheless, QNB, QIIB, Masraf Al Rayan, Qatari German Company for Medical Devices, Widam Food, Qatar Islamic Insurance, Barwa, Ezdan, Ooredoo and Vodafone Qatar were among the losers this week which saw PricewaterhouseCoopers find that the initial public offering of Qatar Aluminum Manufacturing Company constituted more than 40% of the total proceeds raised from maiden offers in the Gulf Cooperation Council during the fourth quarter of 2018.
Islamic stocks were seen declining vis-à-vis gains in the other indices in the market, which saw Doha Bank sponsored ETF announce QR4.25 dividend per unit.
The Total Return Index grew 0.46% and All Share Index by 0.14%, while Al Rayan Islamic Index (Price) was down 0.07% this week which saw as many as 2,062 Masraf Al Rayan bank sponsored exchange traded fund QATR valued at 0.05mn traded across eight transactions.
The insurance index soared 9.78%, transport (4.39%), consumer goods (2.34%) and industrials (0.13%); while telecom declined 2.26%, realty (1.83%) and banks and financial services (0.69%) this week which saw banks, real estate and industrials segments together account for about 81% of total trade volume.
The banks and financial services sector accounted for 32% of the total volume, realty (26%), industrials (23%), transport (7%), telecom (6%), and consumer goods and insurance (3% each) this week which saw a total of 51,500 Doha Bank sponsored QETF worth QR5.39mn changed hands across seven deals.
In terms of value, banks and financial services’ share were 31%, industrials (22%), realty (15%), consumer goods (13%), transport (9%), telecom (5%) and insurance (4%) this week.
Local retail investors’ net selling declined considerably to QR46.84mn compared to QR228.05mn a week ago.
Non-Qatari individuals’ net profit booking eased marginally to QR3.07mn against QR3.91mn the previous week.
However, domestic funds’ net buying fell significantly to QR28.16mn compared to QR139.73mn the week ended March 21.
Foreign institutions’ net buying declined substantially to QR21.74mn against QR92.07mn a week ago.
Total trade volume grew 5% to 63.97mn shares, while value declined 18% to QR1.39bn and transactions by 5% to 29,533 this week.
The transport sector’s trade volume more than doubled to 4.6mn equities and value also more than doubled to QR132.22mn on 47% increase in deals to 1,795.
The banks and financial sector saw 63% surge in trade volume to 20.49mn stocks but on 26% decline in value to QR435.69mn despite 16% higher transactions at 7,308.
However, the telecom sector’s trade volume plummeted 34% to 3.96mn shares, value by 36% to QR64.5mn and deals by 18% to 2,101.
There was 32% plunge in the insurance sector’s trade volume to 1.96mn equities, 1% in value to QR60.16mn and 17% in transactions to 1,298.
The consumer goods sector’s trade volume tanked 29% to 1.95mn stocks, value by 44% to QR179.65mn and deals by 37% to 1,674.
The real estate sector reported 14% shrinkage in trade volume to 16.34mn shares, 16% in value to QR212.5mn and 9% in transactions to 6,428.
The industrials sector’s trade volume was down 6% to 14.67mn equities, value by 7% to QR309.18mn and deals by 9% to 8,929.
Insurance, transport and consumer goods counters witnessed robust to moderate buying interests, thus helping the 20-stock Qatar Index inch near the 10,200 levels this week.
The weakened net selling pressure from non-Qatari individuals also helped the market stay positive this week which saw global credit rating agency A M Best affirm the financial strength rating of 'B++ (Good)' and the long-term issuer credit rating of “bbb+” of Qatar Islamic Insurance Company.
More than 52% of the traded constituents extended gains this week which saw Salam International Investment shareholders approve stock split whereby each share with a face value of QR10 will be split into 10 stocks of QR1 each.
Major gainers included Qatar Insurance, Qatar General and Reinsurance, Al Khaleej Takaful, Mazaya Qatar, United Development Company, Gulf Warehousing, Nakilat, Qatar Islamic Bank, Commercial Bank, Islamic Holding Group, Dlala, Zad Holding and Woqod this week which saw a sharp expansion in new contracts and robust output expectations have helped boost sentiments in the Qatar's non-hydrocarbon private sector in March this year.
Nevertheless, QNB, QIIB, Masraf Al Rayan, Qatari German Company for Medical Devices, Widam Food, Qatar Islamic Insurance, Barwa, Ezdan, Ooredoo and Vodafone Qatar were among the losers this week which saw PricewaterhouseCoopers find that the initial public offering of Qatar Aluminum Manufacturing Company constituted more than 40% of the total proceeds raised from maiden offers in the Gulf Cooperation Council during the fourth quarter of 2018.
Islamic stocks were seen declining vis-à-vis gains in the other indices in the market, which saw Doha Bank sponsored ETF announce QR4.25 dividend per unit.
The Total Return Index grew 0.46% and All Share Index by 0.14%, while Al Rayan Islamic Index (Price) was down 0.07% this week which saw as many as 2,062 Masraf Al Rayan bank sponsored exchange traded fund QATR valued at 0.05mn traded across eight transactions.
The insurance index soared 9.78%, transport (4.39%), consumer goods (2.34%) and industrials (0.13%); while telecom declined 2.26%, realty (1.83%) and banks and financial services (0.69%) this week which saw banks, real estate and industrials segments together account for about 81% of total trade volume.
The banks and financial services sector accounted for 32% of the total volume, realty (26%), industrials (23%), transport (7%), telecom (6%), and consumer goods and insurance (3% each) this week which saw a total of 51,500 Doha Bank sponsored QETF worth QR5.39mn changed hands across seven deals.
In terms of value, banks and financial services’ share were 31%, industrials (22%), realty (15%), consumer goods (13%), transport (9%), telecom (5%) and insurance (4%) this week.
Local retail investors’ net selling declined considerably to QR46.84mn compared to QR228.05mn a week ago.
Non-Qatari individuals’ net profit booking eased marginally to QR3.07mn against QR3.91mn the previous week.
However, domestic funds’ net buying fell significantly to QR28.16mn compared to QR139.73mn the week ended March 21.
Foreign institutions’ net buying declined substantially to QR21.74mn against QR92.07mn a week ago.
Total trade volume grew 5% to 63.97mn shares, while value declined 18% to QR1.39bn and transactions by 5% to 29,533 this week.
The transport sector’s trade volume more than doubled to 4.6mn equities and value also more than doubled to QR132.22mn on 47% increase in deals to 1,795.
The banks and financial sector saw 63% surge in trade volume to 20.49mn stocks but on 26% decline in value to QR435.69mn despite 16% higher transactions at 7,308.
However, the telecom sector’s trade volume plummeted 34% to 3.96mn shares, value by 36% to QR64.5mn and deals by 18% to 2,101.
There was 32% plunge in the insurance sector’s trade volume to 1.96mn equities, 1% in value to QR60.16mn and 17% in transactions to 1,298.
The consumer goods sector’s trade volume tanked 29% to 1.95mn stocks, value by 44% to QR179.65mn and deals by 37% to 1,674.
The real estate sector reported 14% shrinkage in trade volume to 16.34mn shares, 16% in value to QR212.5mn and 9% in transactions to 6,428.
The industrials sector’s trade volume was down 6% to 14.67mn equities, value by 7% to QR309.18mn and deals by 9% to 8,929.
