The Qatar Stock Exchange witnessed more than 63% of the traded constituents make gains, thus reflecting in a huge 297 points surge in the main index this week.
Telecom, transport, banking and industrials counters witnessed higher than average demand this week which saw a robust double-digit growth in credit to the private sector outpace total loan expansion within Qatar’s commercial banks at the end of June 2019.
Domestic institutions were seen bullish this week which saw six of the seven sectors under buying spotlight.
Local and non-Qatari retail investors as well foreign institutions were seen net profit takers, nevertheless the 20-stock Qatar Index settled 3.09% higher this week which saw no trading of treasury bills and sovereign bonds.
Trade turnover and volumes were on the increase this week which saw the Total Return Index surge 3.09%, All Share Index by 3.29% and Al Rayan Islamic Index (Price) by 1.78%.
Market capitalisation stood at QR548.59bn this week which saw as many as 405,468 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.91mn trade across 32 deals.
The telecom index surged 5.79%, transport (4.2%), banks and financial services (3.81%), industrials (3.56%), real estate (2.23%) and insurance (1.01%); while consumer goods were down 0.46% this week which witnessed a total of 183,754 Doha Bank sponsored QETF valued at QR1.79mn changed hands across 27 transactions.
Major gainers included Ooredoo, Milaha, Nakilat, Gulf Warehousing, QNB, Commercial Bank, Qatar Islamic Bank, Alijarah Holding, Dlala, Qatari German Company for Medical Devices, Medicare Group, Industries Qatar, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Ezdan, Qatar Islamic Insurance and Qatar Insurance this week.
Industrials, banking and real estate segments accounted for more than 80% of the total trading volume this week which saw buoyancy in extraction of hydrocarbons and some of the promising segments within manufacturing helped Qatar register about 2% year-on-year growth in the industrial production in June 2019.
Domestic institutions were net buyers to the tune of QR65.41mn; while foreign funds were net sellers to the extent of QR33.22mn.
In the case of local and non-Qatari retail investors, both were net profit takers to the tune of QR25.47mn and QR6.64mn respectively.
Total trade volume stood at 324.29mn shares valued at QR851.68mn changes hands across 31,220 transactions with as many as 110.34mn industrials equities worth QR198.49mn trade in 11,918 deals.
The banking and financial services sector saw as many as 87.95mn stocks valued at QR405.49mn change hands across 8,497 transactions and a total of 62.85mn real estate shares worth QR76.75mn trade across 3,288 deals.
As many as 20.16mn consumer goods and services equities valued at QR47.6mn change hands across 1,397 transactions and a total of 18.03mn telecom stocks worth QR58.97mn trade across 3,008 deals.
Transport saw a total of 15.2mn shares valued at QR38.48mn change hands across 1,334 transactions, and there was a total of 9.78mn insurance equities worth QR25.91mn trade across 1,778 deals.