Domestic funds’ increased buying interests mainly gave a massive more than 210 points upward thrust to the Qatar Stock Exchange, whose capitalisation added more than QR11bn this week.
Foreign counterparts’ bullish outlook also helped the main barometer inch near 10,400 levels this week which saw the QSE disclose that it has witnessed foreign funds inflow of more than $1.3bn so far this year.
Telecom, banking, industrials and realty counters witnessed higher than average demand, leading to a 2.07% increase in the 20-stock Qatar Index this week which saw Baladna, the holding company of Qatar's dairy major, to be listed on December 11, thus taking the total number of listed entities to 47.
However, local retail investors’ net selling increased significantly and non-Qatari individuals turned bearish this week which saw Qatar Electricity and Water Company complete the financial arrangement with internationally syndicated lenders for its Umm Al Houl Power's on-going project to enhance desalinated water production capacity.
About 58% of the traded constituents extended gains to investors this week which saw five of the seven sectors reel under selling pressure.
Islamic stocks were seen gaining slower than the main index this week which saw as many as 9,895 Masraf Al Rayan sponsored exchange traded funds QATR valued at QR22,916 trade across seven transactions.
Trade turnover and volumes were on the decline this week which saw a total of 12,280 Doha Bank sponsored QETF valued at QR123,953 changed hands across eight deals.
The Total Return Index rose 2.07%, Al Rayyan Islamic Index 1.71% and All Share Index 2.01% this week which saw Mesaieed Petrochemical Holding Company receive income tax exemption from the government, following which it will receive QR170mn refund for the financial year 2018.
The telecom index shot up 4.16%, banks and financial services (2.35%), industrials (2.22%), real estate (2.21%) and consumer goods (1.6%); while transport and insurance fell 0.79% and 0.66% respectively this week which saw a double-digit dip in earnings in hydrocarbons and some manufactured products led Qatar's producers' price index shrink 22.4% year-on-year in October 2019.
Major gainers included Ooredoo, Qatar Oman Investment, QIIB, Qatar Islamic Bank, QNB, Commercial Bank, Salam International Investment, Industries Qatar, Aamal Company, Qatari Investors Group, Mazaya Qatar and United Development Company; even as Gulf Warehousing, Nakilat, Ezdan, Widam Food, Alijarah Holding, Dlala, Ahlibank Qatar and Qatar General Insurance and Reinsurance were among the losers this week which saw commercial banks, by and large, witness their stock brokerage arms report year-on-year slowdown in trade turnover this November.
Market capitalisation expanded about 2% to QR573.35bn, mainly on large and small cap equities this week which saw banking and industrials sectors constitute about 63% of the trading volume.
The banks and financial services sector accounted for 33% of the trading volume, industrials (29%), real estate (15%), consumer goods (8%), telecom (7%), transport (5%) and insurance (2%) this week.
In terms of value, banks and financial services accounted for 56%, industrials (16%), telecom (9%), consumer goods, realty and transport (6% each), and insurance (2%) this week.
Domestic funds’ net buying increased significantly to QR110.65mn compared to QR35.59mn a week ago.
Non-Qatari institutions turned net buyers to the tune of QR73.65mn against net sellers of QR44.43mn the previous week.
However, local retail investors’ net selling grew considerably to QR173.86mn compared to QR4.08mn a week ago.
Non-Qatari individuals were net profit takers to the extent of QR10.44mn against net buyers of QR12.92mn the previous week.
Total trade volume fell 5% to 361.44mn shares, value by 51% QR1.11bn and transactions by 21% to 31,235.
The banks and financial services sector’s trade volume plummeted 39% to 120.65mn equities, value by 63% QR616.66mn and deals by 39% to 134,184.
There was 32% plunge in the insurance sector’s trade volume to 7.72mn stocks, 28% in value to QR20.29mn and 29% in transactions to 648.
However, the consumer goods sector’s trade volume more than doubled to 30.09mn shares but on 42% shrinkage in value to QR70.03mn and 38% in deals to 1,945.
The transport sector’s trade volume soared 42% to 17.3mn equities and value by 36% to QR62.12mn on more than doubled transactions to 1,772.
The industrials sector saw 31% surge in trade volume to 105.41mn stocks but on 23% fall in value to QR180.89mn despite 14% higher deals at 7,653.
The real estate sector’s trade volume expanded 30% to 55mn shares, whereas value shrank 11% to QR65.13mn and transactions by 5% to 1,985.
The telecom sector reported 23% jump in trade volume to 25.27mn equities but on 3% dip in value to QR95.79mn despite 4% lower deals to 4,048.