The Qatar Stock Exchange, which surpassed 10,700 levels on the opening day, however, could not sustain its momentum in the later sessions, thus overall settling lower this week.
Industrials, insurance and consumer goods counters witnessed higher than average profit booking pressure this week which saw the country’s industrial production was on a decelerating mode, both on yearly and monthly basis, during November last year.
The increased net selling by local retail investors and the substantially weakened buying interests of non-Qatari funds was visible this week which saw Mazaya Real Estate Development announce its intention to explore the feasibility of merging with Al Bandari Real Estate.
Notwithstanding, the bullish domestic funds, the 20-stock Qatar Index settled 0.69% lower this week which saw no trading of sovereign bonds and treasury bills.
More than 54% of the traded constituents were in the red this week which saw as many as 183,251 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR434,258 trade across 18 transactions.
Market capitalisation saw 0.73% decline to QR589.79bn mainly on small and microcap segments this week which saw a total of 37,629 Doha Bank sponsored QETF worth QR396,766 change hands across nine deals.
Islamic stocks were seen declining slower than the conventional indices this week which saw six of the seven sectors under selling pressure.
Trade turnover fell amidst higher volumes this week which saw Al Khaliji report a 6% year-on-year expansion in net profit to QR646mn during 2019 and suggest a 7.5% cash dividend.
The Total Return Index declined 0.69%; Al Rayyan Islamic Index 0.51% and All Share Index 0.64% this week which saw Doha's commercial banks’ total asset base expand 9% year-on-year at the end of December 2019.
The industrials index tanked 1.78%, insurance (1.52%), consumer goods (0.96%), banks and financial services (0.33%), telecom (0.31%) and transport (0.05%); while real estate gained 0.82% this week which saw banking and realty sector together accounted for more than 71% of the total volume.
More than 54% of the traded stocks were in the red with major losers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Doha Bank and Ahlibank Qatar; whereas Qatar First Bank, al khaliji, Qatar Islamic Bank, Alijarah Holding and Qatari Investors Group were among the gainers this week.
Qatari investors’ net selling increased significantly to QR233.06mn compared to QR195.27mn the week ended January 16.
Foreign funds’ net buying weakened substantially to QR137.68mn against QR309.26mn the previous week.
However, domestic funds were net buyers to the tune of QR108.3mn compared with net sellers of QR86.34mn a week ago.
Non-Qatari individuals’ net profit booking declined perceptibly to QR12.91mn against QR27.65mn the previous week.
The banks and financial services sector accounted for 38% of total volume, realty (33%), industrials (11%), consumer goods (7%), telecom (5%), transport (4%) and insurance (1%) this week.
In terms of value, banks and financial services’ share stood at 57% of the total, real estate (14%), industrials (9%), consumer goods (8%), telecom (7%), transport (5%) and insurance (1%) this week.
Total trade volume grew 30% to 529.32mn shares; while value fell 9% to QR1.18bn and transactions by 1% to 23,363.
The real estate sector’s trade volume more than doubled to 176.76mn equities, value soared 70% to QR159.39mn and deals by 88% to 3,814.
The banks and financial services sector saw 41% surge in trade volume to 200.47mn stocks and 11% in value to QR671.95mn but on 4% jump in transactions to 9,614.
The transport sector’s trade volume shot up 13% to 21.33mn shares, while value declined 12% to QR64.22mn despite 1% higher deals at 867.
There was 5% growth in the consumer goods’ trade volume to 37.7mn equities but on 5% fall in value to QR93.57mn and 28% in transactions to 2,651.
However, the insurance sector’s trade volume plummeted 57% to 3.72mn stocks, value by 61% to QR9.04mn and deals by 31% to 477.
The industrials’ sector reported 35% plunge in trade volume to 60.55mn shares, 38% in value to QR106.42mn and 10% in transactions to 3,743.
The telecom sector’s trade volume was down 19% to 28.78mn equities, value by 3% to QR80.27mn and deals by 27% to 2,197.