Four of the five trading sessions were under selling pressure on the Qatar Stock Exchange, which settled lower this week which saw Qatar’s expectation on becoming a $225bn economy by 2020.
Consumer goods, telecom and industrials counters witnessed higher than average selling pressure this week which saw Industries Qatar report QR2bn net profit for the first nine months (9M) this year.
The bearish outlook of domestic institutions was instrumental in dragging the 20-stock benchmark 0.48% this week which saw Nakilat report 10.5% year-on-year increase in net profit to QR728mn during January-September this year.
The increased net selling pressure from non-Qatari individuals also played its role in dampening the market this week which saw Doha Bank report 11% rise in net profit to QR891mn in 9M, 2019.
More than 63% of the traded constituents were in the red this week which witnessed the newly listed Qatar Aluminium Manufacturing Company, a 50% shareholder in Qatalum, report net profit of QR60.6mn in the first nine months.
Islamic stocks were seen declining faster than the other indices this week which saw robust production in basic metals, rubber and plastics products and refined petroleum products as well as higher extraction of hydrocarbons help Qatar register more than 1% year-on-year growth in the industrial production in August 2019.
Trade turnover and volumes were on the decline this week which saw as many as 3,474 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.08mn trade across five transactions.
The Total Return Index shrank 0.48%, Al Rayyan Islamic Index by 1.07% and All Share Index by 0.31% this week which saw a total of 12,851 Doha Bank sponsored QETF valued at QR0.13mn changed hands across eight deals.
The consumer goods index declined 1.49%, telecom (1.33%), industrials (1.01%), realty (0.54%) and insurance (0.17%); while transport gained 0.47% and banks and financial services (0.11%) this week which saw market capitalisation shed 0.28% to QR575.36bn mainly on large and small cap equities.
Major losers included Ezdan, Mazaya Qatar, Ooredoo, Qatar General Insurance and Reinsurance, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Industrial Manufacturing, Qatari German Company for Medical Devices, Woqod, Mannai Corporation, al khaliji, Qatar First Bank, Alijarah Holding and Dlala; even as Gulf Warehousing, Al Khaleej Takaful, Qatar Islamic Insurance, Qatar Electricity and Water, Widam Food, QNB and Ahlibank Qatar were among the losers this week which saw banking, industrials and real estate constitute more than 73% of the trading volume.
The banks and financial services sector accounted for 29% of the trading volume, industrials (24%), realty (20%), consumer goods (13%), insurance (6%), and telecom and transport (4% each) this week.
In terms of value, banks and financial services accounted for 50%, industrials (15%), consumer goods (14%), real estate (7%), insurance and telecom (5% each), and transport (4%) this week.
Domestic funds were net sellers to the tune of QR22.27mn against net buyers of QR128.66mn the week ended October 17.
Non-Qatari individuals’ net profit booking increased considerably to QR56.68mn compared to QR14.3mn the previous week.
However, non-Qatari funds’ net buying grew significantly to QR137.07mn against QR63.4mn a week ago.
Local retail investors’ net selling fell substantially to QR58.21mn compared to QR177.77mn the previous week.
Total trade volume fell 13% to 305.8mn shares, value by 23% to QR955.86bmn and transactions by 12% to 21,454.
The banks and financial services sector saw 36% plunge in trade volume to 89.2mn equities, 39% in value to QR479.67mn and 26% in deals to 7,393.
The transport sector’s trade volume plummeted 26% to 11.09mn stocks, value by 17% to QR35.37mn and transactions by 40% to 723.
The insurance sector reported 9% shrinkage in trade volume to 18.33mn shares, 9% in value to QR50.18mn and 6% in deals to 1,448.
The industrials sector’s trade volume was down 7% to 74.09mn equities, value by 13% to QR144.2mn and transactions by 6% 5,039.
However, there was 34% surge in the consumer goods sector’s trade volume to 40.14mn stocks, 62% in value to QR131.7mn and 23% in deals to 2,835.
The telecom sector’s trade volume soared 13% to 12.67mn shares, value by 14% to QR50.11mn and transactions by 2% to 2,013.
The market witnessed 13% expansion in the real estate sector’s trade volume to 60.28mn equities but on 11% fall in value to QR64.64mn despite 1% higher deals at 2,003.
The bearish outlook of domestic institutions was instrumental in dragging the 20-stock benchmark 0.48% this week which saw Nakilat report 10.5% year-on-year increase in net profit to QR728mn during January-September this year.
The increased net selling pressure from non-Qatari individuals also played its role in dampening the market this week which saw Doha Bank report 11% rise in net profit to QR891mn in 9M, 2019.
More than 63% of the traded constituents were in the red this week which witnessed the newly listed Qatar Aluminium Manufacturing Company, a 50% shareholder in Qatalum, report net profit of QR60.6mn in the first nine months.
Islamic stocks were seen declining faster than the other indices this week which saw robust production in basic metals, rubber and plastics products and refined petroleum products as well as higher extraction of hydrocarbons help Qatar register more than 1% year-on-year growth in the industrial production in August 2019.
Trade turnover and volumes were on the decline this week which saw as many as 3,474 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.08mn trade across five transactions.
The Total Return Index shrank 0.48%, Al Rayyan Islamic Index by 1.07% and All Share Index by 0.31% this week which saw a total of 12,851 Doha Bank sponsored QETF valued at QR0.13mn changed hands across eight deals.
The consumer goods index declined 1.49%, telecom (1.33%), industrials (1.01%), realty (0.54%) and insurance (0.17%); while transport gained 0.47% and banks and financial services (0.11%) this week which saw market capitalisation shed 0.28% to QR575.36bn mainly on large and small cap equities.
Major losers included Ezdan, Mazaya Qatar, Ooredoo, Qatar General Insurance and Reinsurance, Qatari Investors Group, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Industrial Manufacturing, Qatari German Company for Medical Devices, Woqod, Mannai Corporation, al khaliji, Qatar First Bank, Alijarah Holding and Dlala; even as Gulf Warehousing, Al Khaleej Takaful, Qatar Islamic Insurance, Qatar Electricity and Water, Widam Food, QNB and Ahlibank Qatar were among the losers this week which saw banking, industrials and real estate constitute more than 73% of the trading volume.
The banks and financial services sector accounted for 29% of the trading volume, industrials (24%), realty (20%), consumer goods (13%), insurance (6%), and telecom and transport (4% each) this week.
In terms of value, banks and financial services accounted for 50%, industrials (15%), consumer goods (14%), real estate (7%), insurance and telecom (5% each), and transport (4%) this week.
Domestic funds were net sellers to the tune of QR22.27mn against net buyers of QR128.66mn the week ended October 17.
Non-Qatari individuals’ net profit booking increased considerably to QR56.68mn compared to QR14.3mn the previous week.
However, non-Qatari funds’ net buying grew significantly to QR137.07mn against QR63.4mn a week ago.
Local retail investors’ net selling fell substantially to QR58.21mn compared to QR177.77mn the previous week.
Total trade volume fell 13% to 305.8mn shares, value by 23% to QR955.86bmn and transactions by 12% to 21,454.
The banks and financial services sector saw 36% plunge in trade volume to 89.2mn equities, 39% in value to QR479.67mn and 26% in deals to 7,393.
The transport sector’s trade volume plummeted 26% to 11.09mn stocks, value by 17% to QR35.37mn and transactions by 40% to 723.
The insurance sector reported 9% shrinkage in trade volume to 18.33mn shares, 9% in value to QR50.18mn and 6% in deals to 1,448.
The industrials sector’s trade volume was down 7% to 74.09mn equities, value by 13% to QR144.2mn and transactions by 6% 5,039.
However, there was 34% surge in the consumer goods sector’s trade volume to 40.14mn stocks, 62% in value to QR131.7mn and 23% in deals to 2,835.
The telecom sector’s trade volume soared 13% to 12.67mn shares, value by 14% to QR50.11mn and transactions by 2% to 2,013.
The market witnessed 13% expansion in the real estate sector’s trade volume to 60.28mn equities but on 11% fall in value to QR64.64mn despite 1% higher deals at 2,003.
