Strengthened oil prices and relaxation of Covid-19 restrictions in many global jurisdictions had their positive influence on the Qatar Stock Exchange, which saw about 62% of the traded constituents extend gains this week.
Local retail investors’ substantially weakened net selling pressure came to the aid of the bourse, whose key barometer neared 8,000 levels this week, which saw QNB complete $1bn bond issue.
Four of the seven sectors saw gains this week, which saw Qatar Insurance disclosed the issue of $300mn subordinated Tier II capital notes.
Notwithstanding the selling pressure from foreign funds and the Gulf retail investors, the 20-stock Qatar Index settled 0.4% higher this week, which also saw the index touch its nadir of 8,668 points on Monday.
The real estate, industrials and transport counters witnessed higher than average demand this week which saw as many as 522,127 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR1.05mn change hands across 28 transactions.
The domestic, Gulf and Arab institutions continued to be net buyers but with lesser intensity this week which saw a total of 14,338 Doha Bank sponsored QETF trade across nine deals.
The Total Return Index rose 0.4%, Al Rayan Islamic Index by 1.97% and All Share Index by 0.57% this week which saw the Qatar Central Bank launch a package of instructions for financial institutions operating in the country with a view to addressing the risks of the spread of the coronavirus.
The realty index surged 7.18%, industrials (4.11%), transport (3.62%) and consumer goods and services (0.43%); whereas telecom declined 4.37%, insurance (1.09%) and banks and financial services (0.8%) this week.
Major gainers included United Development Company, Mazaya Qatar, Gulf International Services, Qatari Investors Group, Aamal Company, Mesaieed Petrochemical Holding, Qamco, Nakilat, Milaha, Al Khaliji, Alijarah Holding, Qatar German Company for Medical Devices, Zad Holding, Medicare Group, Widam Food and Baladna this week.
Nevertheless, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Qatar First Bank, Qatar Oman Investment Al Meera, Qatar Electricity and Water, Qatar Insurance, Barwa, Ooredoo and Vodafone Qatar were among the losers this week.
Market capitalisation saw about QR6bn or 1.16% expansion to QR499.58bn mainly triggered by large and small cap segments this week.
Trade turnover and volumes were on the increase this week which saw real estate sector account for about 35% of the total trading volume, industrials (27%), banks and financial services (16%), consumer goods (14%), transport (5%), and insurance and telecom (2% each).
In value, banks and financial services’ share stood at 27%, real estate (24%), industrials (21%), consumer goods (12%), transport (9%), and telecom and insurance (3% each) this week.
Local retail investors' net profit booking declined significantly to QR49.02mn against QR169.1mn the week ended April 30.
However, foreign funds’ net selling grew substantially to QR109.098mn against QR52.87mn the previous week.
The Gulf individuals turned net sellers to the tune of QR8.64mn compared with net buyers of QR1.99mn a week ago.
The Arab individuals’ net selling rose noticeably to QR5.02mn against QR4.71mn the week ended April 30.
Foreign individuals’ net profit booking grew perceptibly to QR4.82mn compared to QR2.9mn the previous week.
Domestic funds’ net buying fell influentially to QR164.14mn against QR195.89mn a week ago.
The Gulf institutions’ net buying eased substantially to QR12.25mn compared to QR25.71mn the week ended April 30.
The Arab institutions’ net buying also fell noticeably to QR0.18mn against QR5.97mn the previous week.
Total trading volume rose 6% to 1.46bn shares, value by 11% to QR2bn and transactions by 10% to 54,821.
The insurance sector’s trade volume more than doubled to 32.02mn equities and value also more than doubled to QR62.56mn on 3% increase in deals to 1,497.
There was 81% surge in the industrials sector’s trade volume to 394.32mn stocks, 56% in value to QR424.95mn and 69% in transactions to 11,952.
The transport sector’s trade volume shot up 61% to 69.4mn shares, 60% in value to 190.51mn and 47% in deals to 5,977.
The banks and financial services sector saw 34% expansion in trade volume to 230.22mn equities, 9% in value to QR550.14mn and 1% in transactions to 16,608.
However, the telecom sector reported 32% plunge in trade volume to 23.63mn stocks and 23% in value to QR67.52mn but on 1% jump in deals to 3,711.
The real estate sector’s trade volume plummeted 26% to 510.31mn shares, value by 7% to QR475.95mn and transactions by 10% to 8,940.
The market witnessed 6% shrinkage in the consumer goods sector’s trade volume to 198.71mn equities, 16% in value to QR237.37mn and 12% in deals to 6,136.