Robust buying especially on the last day placed the Qatar Stock Exchange above 10,500 levels this week which witnessed oil price surge on increased tensions in the region.
Oil price increase came after the exchange closed for the week, even as apprehensions are that it could trigger panic reactions in the market in the coming sessions.
Banking and consumer goods counters witnessed higher than average demand this week which saw Qatar's producer price index decline 14% year-on-year in November 2019.
Local retail investors’ selling pressure was seen considerably weakening as the 20-stock Qatar Index gained 0.82% this week which saw the brokerage arms of the commercial banks in Qatar corner lion's share of trade turnover in December last year.
More than 51% of the traded constituents extended gains to investors this week which saw market capitalisation gain about QR4bn or 0.61% to QR585.37bn.
Islamic stocks were seen gaining slower than the other conventional entities this week which weakened net selling pressure from domestic funds.
Mid and small cap stocks saw higher buying interests this week which saw a total of 20,529 Masraf Al Rayan sponsored exchange traded funds QATR valued at QR48,204 trade across four transactions.
Trade turnover grew amidst lower volumes this week which saw a total of 835 Doha Bank sponsored QETF valued at QR8,555 changed hands across four deals.
The Total Return Index gained 0.82%, Al Rayyan Islamic Index 0.51% and All Share Index 0.65% this week which saw no trading of sovereign bonds and treasury bills.
The banks and financial services index was up 1.07%, consumer goods (0.88%), insurance (0.34%) and industrials (0.06%); while transport declined 0.88%, telecom (0.09%) and realty (0.06%) this week which otherwise saw the benchmark touch a low of 10,419 points.
Major gainers included Commercial Bank, Doha Bank, Qatar Islamic Bank, Masraf Al Rayan, Salam International Investment, Qatar Industrial Manufacturing, Industries Qatar, Aamal Company, Qatar General Insurance and Reinsurance and Ooredoo; while Dlala, Qatar First Bank, Qatari Investors Group, Mesaieed Petrochemical Holding, Nakilat, Ezdan and Mazaya Qatar were among the loser this week which saw banks, industrials and real estate sectors accounted for about three-fourth of the total trade volume.
Qatari investors’ net selling fell significantly to QR12mn against QR104.26mn the week ended December 26.
Domestic institutions’ net profit booking weakened considerably to QR8.65mn compared to QR13.86mn a week ago.
However, non-Qatari individuals turned net sellers to the tune of QR0.58mn against net buyers of QR5.06mn the previous week.
Foreign funds’ net buying declined substantially to QR21.11mn compared to QR113.06mn the week ended December 26.
Total trade volume fell 6% to 285.3mn shares, while value grew 32% to QR1.15bn despite 34% lower deals at 16,612.
The consumer goods’ trade volume plummeted 55% to 21.57mn equities, value by 12% to QR97.62mn and transactions by 44% to 3,044.
The banks and financial services sector saw 17% plunge in trade volume to 99.18mn stocks but on 39% growth in value to QR625.81mn despite 34% lower deals at 6,366.
The industrials’ sector’s trade volume was down 3% to 57.79mn shares, whereas value shot up 52% to QR196.11mn despite 32% lower transactions at 3,589.
However, the insurance sector’s trade volume more than doubled to 17.71mn equities and value also more than doubled to QR47.04mn but on 15% decline in deals to 601.
There was 58% surge in the telecom sector’s trade volume to 15.59mn stocks and 29% in value to QR55.31mn but on 40% shrinkage in transactions to 1,049.
The real estate sector’s trade volume soared 37% to 56.88mn shares and value by 36% to QR82.87mn, while deals were down 14% to 1,374.
The transport sector reported 4% jump in trade volume to 16.58mn equities but on 11% contraction in value to QR48.84mn and 20% in transactions to 789.