The Qatar Stock Exchange, which witnessed only two days of trading in view of Eid holidays, saw a sizeable 213 points decline this week which saw the listed companies report a cumulative net profit of QR19.6bn in the first half of this year.
An across the board selling – particularly within insurance, telecom, banking and industrials – largely drove the bourse down this week which saw Gulf International Services subsidiary Gulf Drilling International enter into an agreement with Seadrill to service the Qatar Petroleum's North Field expansion programme.
Foreign institutions were largely seen net profit takers this week which saw more than 82% of the traded constituents were in the red.
Local and non-Qatari retail investors as well domestic funds were seen net buyers, nevertheless the 20-stock Qatar Index settled 2.17% lower this week which saw no trading of treasury bills and sovereign bonds.
Trade turnover and volumes were on the decline this week which saw the Total Return Index shed 2.17%, All Share Index by 2.29% and Al Rayan Islamic Index (Price) by 1.73%. Market capitalisation stood at QR529.99bn this week which saw as many as 405,237 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.9mn trade across 24 deals.
The insurance index plunged 4.68%, telecom (4.29%), banks and financial services (2.47%), industrials (2.43%), real estate (1.58%), transport (1.52%) and consumer goods (0.13%) this week which witnessed a total of 118,965 Doha Bank sponsored QETF valued at QR1.15mn changed hands across 11 transactions.
Foreign institutions were net sellers to the tune of QR119.64mn, whereas domestic funds turned net buyers to the extent of QR63.37mn this week.
In the case of local and non-Qatari retail investors, both were net buyers to the extent of QR54.68mn and QR2.55mn respectively.
Total trade volume stood at 104.59mn shares valued at QR424.87mn changes hands across 16,392 transactions with as many as 39.46mn banking equities worth QR226.18mn trade across 5,088 deals.
The industrials and real estate sectors saw a total of 22.49mn and 20.34mn stocks valued at QR85.34mn and QR26.32mn trade across 6,037 and 1,296 transactions respectively.
Some 6.23mn and 6mn transport and insurance shares worth QR17.82mn and QR15.24mn changed hands across 694 and 1,170 deals.
In the case of telecom, as many as 5.8mn equities valued at QR19.47mn trade across 1,429 transactions and a total of 4.27mn consumer goods stocks worth QR34.49mn changed hands across 678 deals.