The Qatar Stock Exchange witnessed more than 78% of the traded constituents reel under selling pressure, leading to a substantial weakening of the overall benchmark this week, which other saw global index compiler MSCI add three stocks in its emerging market indices.
Non-Qatari individuals were seen bearish as the 20-stock Qatar Index lost 155 points this week which saw MSCI add Woqod, Mesaieed Petrochemical Holding (MPHC) and Qatar Aluminium Manufacturing Company in its indices with effect from May 28 this year.
Local retail investors’ substantially weakened buying interests also had its role in the market this week which saw QSE chief executive Rashid bin Ali al-Mansoori say MSCI's decision will not only enhance liquidity in the market but also open the door to investments from global portfolios.
The real estate, insurance, telecom, banking and transport counters witnessed higher than average selling pressure this week which saw Ezdan shareholders nullify its earlier proposal to become a private entity by delisting from the bourse.
Notwithstanding the increased net buying from domestic institutions, the key index tanked 1.55% this week which saw a real estate services firm DTZ Qatar view that Qatar's move to increase the freehold residential zones from three to 10 will have a positive impact on the sector.
Market capitalisation eroded more than QR9bn or 1.62% to QR549.66bn mainly on large, mid and small cap segments this week which saw Qatar's cost of living, based on consumer price index (CPI), rise 0.51% month-on-month this April.
Major shakers included Industries Qatar, QNB, Ezdan, Qatar Insurance, Vodafone Qatar, Ooredoo, Commercial Bank, Qatar Islamic Bank, Qatar First Bank, Alijarah Holding, Dlala, Qatari German Company for Medical Devices, Milaha, Nakilat, Aamal Company, Gulf International Services and Qatari Investors Group this week which saw Qatar's non-oil private sector foresee a further rise in the volume of new business in the second quarter, indicating the growing optimism in the future.
Nevertheless, MPHC, United Development Company, Woqod, Al Khaliji and Doha Bank were among the prime gainers this week which saw as many as 578 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.01mn trade across two deals.
The Islamic stocks were seen declining faster than the main index this week which saw a total of 25,000 sovereign bonds worth QR250mn change hands across one transaction.
The Total Return Index shrank 1.55%, Al Rayan Islamic Index (Price) 0.21% and All Share Index 2.38% this week which saw a total of 2,000 Doha Bank sponsored QETF valued at QR0.2mn across three transactions.
The realty index plummeted 4.08%, insurance (3.57%), telecom (3.46%), banks and financial services (3.37%) and transport (3.17%); whereas consumer goods and industrials gained 1.75% and 0.88% respectively this week which saw industrials, real estate and banking segments together account for more than 83% of total trade volume.
The industrials sector accounted for 37% of the total volume, real estate (25%), banks and financial services (21%), telecom (7%), consumer goods (6%), transport (3%) and insurance (1%) this week.
In terms of value, industrials’ share was 33%, banks and financial services (30%), consumer goods (17%), realty (13%), telecom (4%), transport (3%) and insurance (1%) this week.
Non-Qatari individuals turned net sellers to the tune of QR6.15mn against net buyers of QR6.41mn a week ago.
Local retail investors’ net buying weakened substantially to QR5.19mn compared to QR59.15mn the week ended May 9.
However, domestic funds’ net buying increased significantly to QR149.89mn against QR89.07mn the previous week.
Foreign institutions’ net profit booking fell perceptibly to QR149.12mn compared to QR154.63mn a week ago.
Total trade volume more than doubled to 88.58mn shares, value grew 71% to QR1.92bn and transactions by 86% to 44,906 this week.
The consumer goods sector’s trade volume more than tripled to 5.33mn equities and value more than doubled to QR324.51mn on more than doubled deals to 3,504.
The real estate sector’s trade volume almost tripled to 22.22mn stocks and value more than doubled to QR240.34mn on more than doubled transactions to 10,391.
The telecom sector’s trade volume more than doubled to 6.44mn shares and value soared 71% to QR71.1mn on almost doubled deals to 2,700.
The banks and financial sector saw 75% surge in trade volume to 18.64mn equities, 32% in value to QR568.43mn and 76% in transactions to 10,819.
The industrials sector’s trade volume shot up 77% to 32.73mn stocks, value by 81% to QR626.13mn and deals by 63% to 14,865.
There was 47% expansion in the transport sector’s trade volume to 2.31mn shares, 57% in value to QR63.59mn and 70% in transactions to 1,568.
The insurance sector’s trade volume increased 31% to 0.92mn equities, value by 23% to QR27.53mn and deals by 66% to 1,059.
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