Local retail investors and foreign funds were seen bullish on the Qatar Stock Exchange, which otherwise treaded a flat course, after touching near 9,400 levels, this week.
Islamic equities were seen higher in demand this week which saw QNB report net profit of QR6.4bn in the first half (H1) of this year.
The industrials, realty and banking counters witnessed selling pressure as the 20-stock Qatar Index settled 0.06% lower this week, which saw Qatar Islamic Bank’s H1 net profit at QR1.42bn.
More than 68% of the traded constituents were in the red this week which saw Masraf Al Rayan register H1 2020 net profit at QR1.08bn.
Domestic funds continued to be net sellers but with lesser intensity this week which saw Nakilat witness QR550mn net profit in H1 2020.
The Total Return Index was down 0.06% and All Share Index by 0.03%, while Al Rayan Islamic Index gained 0.9% this week this which saw Woqod report QR270mn in the first six months of this year.
Market capitalisation saw QR80mn or 0.15% jump to QR545.01bn mainly on microcap segments this week which saw as many as 82,810 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR175,501 changed hands across 15 transactions.
Four of the seven sectors however witnessed buying interests this week which saw which saw a total of 72,600 Doha Bank-sponsored QETF worth QR665,680 traded across 16 deals.
The industrials index declined 0.82%, real estate (0.54%) and banks and financial services (0.33%); while insurance gained 6.05%, telecom (2.77%), transport (0.65%) and consumer goods and services (0.07%) this week Barwa disclose its intent to develop two projects in Wakrah.
Major decliners included Industries Qatar, Mesaieed Petrochemical Holding, Qatar National Cement, Qatari Investors Group, Qatar Electricity and Water, Dlala, Al Khaleej Takaful, United Development Company (UDC) and Salam International Investment this week which saw Masraf Al Rayan and UDC sign a QR353mn financing loan.
Nevertheless, Doha Bank, Qatar First Bank, Alijarah Holding, Inma Holding, Qatar German Company for Medical Devices, Mannai Corporation, Baladna, Widam Food, Al Meera, Qatar Industrial Manufacturing, Aamal Company, Qamco, Qatar Insurance, Mazaya Qatar, Barwa and Vodafone Qatar this week which saw industrials and realty sectors together account for about 60% of total trading volume.
Trade turnover and volumes were on the increase this week which saw the industrials sector account for 41% of the total trading volume, real estate (19%), banks and financial services and consumer goods and services (19% each), telecom and insurance (3% each) and transport (2%) this week.
In value, the banks and financial sector’s share was 29%, industrials (24%), realty and consumer goods (18% each), transport (5%), insurance (4%) and telecom (3%) this week.
Qatari individuals’ net buying increased considerably to QR63.64mn against QR50.86mn the week ended July 9.
Foreign institutions turned net buyers to the tune of QR52.79mn compared with net sellers of QR1.67mn a week ago.
The Gulf individuals were also net buyers to the extent of QR2.35mn against net sellers of QR1.67mn the previous week.
Domestic funds’ net selling declined significantly to QR39.59mn compared to QR63.36mn the week ended July 9.
The Arab institutions’ net profit booking weakened marginally to QR0.26mn against QR0.36mn a week ago.
However, the Arab individuals turned net sellers to the tune of QR58.36mn compared with net buyers of QR2.22mn the previous week.
The Gulf funds were also net sellers to the extent of QR11.14mn against net buyers of QR12.78mn the week ended July 2.
Foreign individuals turned net profit takers to the extent of QR9.68mn compared with net buyers of QR1.11mn a week ago.
Total trading volume rose 30% to 1.99bn shares, value by 6% to QR2.93bn and transactions by 7% to 52,474.
The industrials sector’s trade volume more than doubled to 821.57mn equities, value soared 53% to QR707.08mn and deals by 43% to 14,316.
The market witnessed 58% surge in the insurance sector’s trade volume to 53.69mn stocks, 76% in value to QR104.18mn and 17% in transactions to 1,674.
The consumer goods sector’s trade volume soared 54% to 316.36mn shares, value by 76% to QR520.57mn and deals by 56% to 10,231.
There was 33% expansion in the telecom sector’s trade volume to 60.69mn equities and 12% in value to QR92.95mn but on 25% decline in transactions to 2,415.
However, the transport sector’s trade volume plummeted 24% to 43.42mn stocks, value by 31% to QR138.74mn and deals by 9% to 2,386.
The real estate sector saw 23% plunge in trade volume to 371.99mn shares, 28% in value to QR525.35mn and 19% in transactions to 9,205.
The banks and financial services sector’s trade volume tanked 17% to 322.34mn shares, value by 11% to QR843.69mn and deals by 11% to 12,247.