The Qatar Stock Exchange was overall in the negative, losing more than 109 points this week despite stronger buying, particularly within the real estate counter.
Foreign institutions’ increased selling pressure was visible this week which saw the key barometer touch a high of 10,435 points on Tuesday but only to see weakening in the subsequent days.
Domestic institutions’ net buying was seen marginally edging up this week which saw Qatar's producers’ price earnings decline 16.5% year-on-year and 1.5% month-on-month in August 2019 on weakened earnings in hydrocarbons and manufactured products.
Industrials and telecom counters witnessed higher than average selling pressure as the 20-stock benchmark settled 1.05% lower this week which saw the bourse, in collaboration with Iridium Investor Relations, launch the fifth annual investor relations excellence programme.
Local retail investors continued to be bearish but with lesser vigour this week which saw no trading of sovereign bonds and treasury bills.
Islamic stocks were seen declining faster than the other indices this week which saw as many as 7,627 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.02mn trade across two transactions.
Non-Qatari individuals were increasingly bullish this week which saw a total of 14,515 Doha Bank sponsored QETF valued at QR0.15mn changed hands across five deals.
Trade turnover and volumes were on the increase this week which saw four of the five sessions under bearish spell.
The Total Return Index shrank 1.05%, Al Rayan Islamic Index (Price) by 1.39% and All Share Index by 0.71% this week which saw market capitalisation erode about QR5bn or 0.86% to QR571.67bn mainly on small and microcap equities.
The industrials index plummeted 2.82%, telecom (2.57%), insurance (0.84%), consumer goods (0.74%) and banks and financial services (0.31%); while realty and transport gained 2.37% and 0.74% respectively this week.
Major losers included Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Industries Qatar, Ooredoo, Qatar Islamic Bank, Ahlibank Qatar Commercial Bank, Qatar First Bank, Qatar Industrial Manufacturing and Qatar National Cement this week.
Nevertheless, Doha Bank, QIIB, Qatar Oman Investment, Qatari German Company for Medical Devices, Medicare Group, Widam Food, Qatar Islamic Insurance, Al Khaleej Takaful, United Development Company and Milaha were among the gainers this week which saw industrials and realty stocks constitute about 69% of the trading volume.
The industrials sector accounted for 49% of the trading volume, realty (20%), banks and financial services (15%), consumer goods (8%), insurance (4%), telecom (3%) and transport (2%) this week.
In terms of value, banks and financial services accounted for 35%, industrials (29%), consumer goods (13%), real estate (10%), insurance and telecom (5% each) and transport (3%) this week.
Non-Qatari funds’ net selling increased perceptibly to QR29.78mn compared to QR25.52mn the previous week.
However, domestic funds’ net buying rose marginally to QR64.39mn against QR63.96mn the week ended September 26.
Non-Qatari individuals’ net buying strengthened noticeably to QR6.66mn compared to QR3.1mn a week ago.
Local retail investors’ net profit booking eased to QR41.15mn against QR41.54mn the previous week.
Total trade volume rose 50% to 616.62mn shares, value by 17% to QR1.21bn and transactions by 17% to 34,496.
The insurance sector’s trade volume almost tripled to 24.36mn equities and value more than doubled to QR59.27mn on 79% increase in deals to 1,380.
The industrials sector’s trade volume more than doubled to 299.74mn stocks, value grew 38% to QR346.43mn and transactions by 54% to 13,830.
The real estate sector reported 47% surge in trade volume to 124.47mn shares, 52% in value to QR126.2mn and 52% in deals to 5,806.
However, the transport sector’s trade volume plummeted 39% to 12.25mn equities, value by 58% to QR40.29mn and transactions by 47% to 838.
There was 12% plunge in the consumer goods sector’s trade volume to 47.41mn stocks but on 43% expansion in value to QR151.41mn and 9% in deals to 3,310.
The telecom sector’s trade volume was down 5% to 17.27mn shares, value by 23% to QR64.27mn and transactions by 35% to 2,405.
The banks and financial services sector saw 4% fall in trade volume to 91.18mn equities but on 9% growth in value to QR422.54mn despite 10% lower deals to 6,927.
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