The Covid-2019 pandemic-led US’ ban on European travellers and the oil price shock had their considerable influence on the Qatar Stock Exchange (QSE), which lost 1,079 points in key index and more than QR59bn in capitalisation this week.
Foreign institutions were increasingly net sellers this week which saw the QSE announce rejig to its 20-stock Qatar Index whereby Al Meera Consumer Goods Company will replace Gulf International Services (GIS), effective from April.
Domestic institutions’ substantially weakened net buying also had its dampening effect this week which saw Mesaieed Petrochemical Holding Company (MPHC) say it is in a “very good” position with adequate cash buffer to withstand the present supply chain challenges, owing to Covid-19 outbreak globally, and the weak oil prices.
There was an across the board selling – particularly within telecom, insurance and banking counters – this week which saw Q-Chem, a joint venture of MPHC, plan to enhance ethylene production by 7% by 2022 at an estimated cost of QR391mn as part of its five-year master plan involving QR500mn capital expenditure.
Notwithstanding the bullish outlook of both local and non-Qatari retail investors, the 20-stock Qatar Index plunged 11.59% this week which saw Nakilat prepare to take on greater ship management responsibilities in the coming year and also eye potential business partnerships and collaborations to strengthen its portfolio and generate positive returns for shareholders.
The market had touched a low of 8,160 points on Monday, after which it rebounded for the subsequent two sessions but only to weaken on the last session, thereby extending an overall bearish overhang this week which saw no trading of sovereign bonds and treasury bills.
More than 81% of the traded constituents were in the red this week which saw as many as 1.22mn Masraf Al Rayan sponsored exchange traded funds QATR valued at QR2.25mn change hands across 79 transactions.
Trade turnover and volumes were on the increase this week which saw 8,077 Doha Bank sponsored QETF worth QR71,783 traded across six deals.
Market capitalisation eroded 11.35% to QR461.26bn mainly dragged by large and midcap segments this week which saw Baladna and Widam Food sign a partnership agreement to supply the local market with veal meat for the first time.
Islamic stocks seen declining slower than the main index this week which saw QIIB appoints QNBFS as its liquidity provider.
The Total Return Index lost 11.05%; Al Rayyan Islamic Index 9.21% and All Share Index 11.19% this week which saw real estate and banking sectors together constitute more than 55% of total trading volume.
The telecom index plummeted 18.71%, insurance (1.4.31%), banks and financial services (12.38%), industrials (9.77%), real estate (9.42%), transport (8.5%) and consumer goods (2.66%) this week which saw Industries Qatar’s (IQ) parent entity Qatar Petroleum to acquire Yara’s 25% stake in Qatar Fertiliser Company.
Major losers included Ooredoo, IQ, QNB, Qatar Insurance, Vodafone Qatar, Nakilat, Milaha, Commercial Bank, Qatar National Cement, QIIB, Doha Bank, Qatar Islamic Bank, Qatar Electricity and Water, GIS, MPHC and Qatar German Company for Medical Devices; even as Ezdan and Qatar General Insurance and Reinsurance were seen gainers this week.
Foreign institutions’ net profit booking increased considerably to QR299.87mn against QR141.43mn a week ago.
Domestic institutions’ net buying shrank significantly to QR177.47mn compared to QR277.84mn the previous week.
However, Qatari investors turned net buyers to the tune of QR109.44mn against net sellers of QR131.99mn a week ago.
Non-Qataris were also net buyers to the extent of QR19.17mn compared with net sellers of QR4.42mn the previous week.
Total trading volume rose 95% to 899.19mn shares, value by 40% to QR2.06bn and transactions by 46% to 47,335.
The transport sector’s trade volume almost quadrupled to 48.11mn equities and value more than tripled to QR106.5mn on more than tripled deals to 2,383.
The real estate sector’s trade volume more than doubled to 304.21mn stocks and value doubled to QR234.54mn on 59% increase in transactions to 6,543.
There was 96% surge in the industrials sector’s trade volume to 161.32mn shares, 25% in value to QR265.93mn and 27% in deals to 8,246.
The banks and financial services sector’s trade volume soared 83% to 192.17mn equities, value by 52% to QR967.96mn and transactions by 78% to 17,788.
The consumer goods sector reported 57% increase in trade volume to 131.57mn stocks, 5% in value to QR331.87mn and 58% in deals to 7,111.
The telecom sector’s trade volume shot up 40% to 39.79mn shares, whereas value was down 4% to QR108.04mn and transactions by 27% to 3,749.
The insurance sector saw 1% dip in trade volume to 22.02mn equities and 5% in value to QR46.13mn but on 7% jump in deals to 1,515.
Domestic institutions’ substantially weakened net buying also had its dampening effect this week which saw Mesaieed Petrochemical Holding Company (MPHC) say it is in a “very good” position with adequate cash buffer to withstand the present supply chain challenges, owing to Covid-19 outbreak globally, and the weak oil prices.
There was an across the board selling – particularly within telecom, insurance and banking counters – this week which saw Q-Chem, a joint venture of MPHC, plan to enhance ethylene production by 7% by 2022 at an estimated cost of QR391mn as part of its five-year master plan involving QR500mn capital expenditure.
Notwithstanding the bullish outlook of both local and non-Qatari retail investors, the 20-stock Qatar Index plunged 11.59% this week which saw Nakilat prepare to take on greater ship management responsibilities in the coming year and also eye potential business partnerships and collaborations to strengthen its portfolio and generate positive returns for shareholders.
The market had touched a low of 8,160 points on Monday, after which it rebounded for the subsequent two sessions but only to weaken on the last session, thereby extending an overall bearish overhang this week which saw no trading of sovereign bonds and treasury bills.
More than 81% of the traded constituents were in the red this week which saw as many as 1.22mn Masraf Al Rayan sponsored exchange traded funds QATR valued at QR2.25mn change hands across 79 transactions.
Trade turnover and volumes were on the increase this week which saw 8,077 Doha Bank sponsored QETF worth QR71,783 traded across six deals.
Market capitalisation eroded 11.35% to QR461.26bn mainly dragged by large and midcap segments this week which saw Baladna and Widam Food sign a partnership agreement to supply the local market with veal meat for the first time.
Islamic stocks seen declining slower than the main index this week which saw QIIB appoints QNBFS as its liquidity provider.
The Total Return Index lost 11.05%; Al Rayyan Islamic Index 9.21% and All Share Index 11.19% this week which saw real estate and banking sectors together constitute more than 55% of total trading volume.
The telecom index plummeted 18.71%, insurance (1.4.31%), banks and financial services (12.38%), industrials (9.77%), real estate (9.42%), transport (8.5%) and consumer goods (2.66%) this week which saw Industries Qatar’s (IQ) parent entity Qatar Petroleum to acquire Yara’s 25% stake in Qatar Fertiliser Company.
Major losers included Ooredoo, IQ, QNB, Qatar Insurance, Vodafone Qatar, Nakilat, Milaha, Commercial Bank, Qatar National Cement, QIIB, Doha Bank, Qatar Islamic Bank, Qatar Electricity and Water, GIS, MPHC and Qatar German Company for Medical Devices; even as Ezdan and Qatar General Insurance and Reinsurance were seen gainers this week.
Foreign institutions’ net profit booking increased considerably to QR299.87mn against QR141.43mn a week ago.
Domestic institutions’ net buying shrank significantly to QR177.47mn compared to QR277.84mn the previous week.
However, Qatari investors turned net buyers to the tune of QR109.44mn against net sellers of QR131.99mn a week ago.
Non-Qataris were also net buyers to the extent of QR19.17mn compared with net sellers of QR4.42mn the previous week.
Total trading volume rose 95% to 899.19mn shares, value by 40% to QR2.06bn and transactions by 46% to 47,335.
The transport sector’s trade volume almost quadrupled to 48.11mn equities and value more than tripled to QR106.5mn on more than tripled deals to 2,383.
The real estate sector’s trade volume more than doubled to 304.21mn stocks and value doubled to QR234.54mn on 59% increase in transactions to 6,543.
There was 96% surge in the industrials sector’s trade volume to 161.32mn shares, 25% in value to QR265.93mn and 27% in deals to 8,246.
The banks and financial services sector’s trade volume soared 83% to 192.17mn equities, value by 52% to QR967.96mn and transactions by 78% to 17,788.
The consumer goods sector reported 57% increase in trade volume to 131.57mn stocks, 5% in value to QR331.87mn and 58% in deals to 7,111.
The telecom sector’s trade volume shot up 40% to 39.79mn shares, whereas value was down 4% to QR108.04mn and transactions by 27% to 3,749.
The insurance sector saw 1% dip in trade volume to 22.02mn equities and 5% in value to QR46.13mn but on 7% jump in deals to 1,515.
