The Qatar Stock Exchange (QSE) witnessed strong buying, especially in banking and transport counters; yet it treaded a flat path, amidst weakened trading this week.
Domestic funds were otherwise seen bullish this week which saw the QSE disclose its intent to launch an environment social governance benchmark for the listed companies.
The industrials, insurance, realty and consumer goods counters witnessed higher-than-average selling pressure this week which saw Qatar’s real economic growth average 0.9% in the first quarter of this year.
Local retail investors and foreign funds were seen bearish this week which saw QG Medical Devices (QGMD) disclose its intent to acquire an unlisted Elegancia Company, a services sector entity.
More than 51% of the traded constituents were in the red this week which saw Ooredoo report net profit of QR818mn in the first half (H1) of this year.
The Gulf institutions’ net profit booking were seen slackening this week which saw Barwa’s H1 net profit at QR586mn.
While the Total Return Index lay flat, the All Share Index was down 0.06% and Al Rayan Islamic Index by 0.37% this week which saw Milaha register H1 net profit of QR300mn.
Market capitalisation saw QR86mn or 0.16% decrease to QR547.68bn mainly on microcap segments this week which saw United Development Company and Vodafone Qatar register H1 net profit of QR87mn and QR81.1mn respectively.
Foreign individuals were seen booking profits this week which saw as many as 196,893 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR437,106 changed hands across 23 transactions.
The industrials index tanked 1.29%, insurance (1.28%), real estate (0.89%), consumer goods and services (0.83%) and telecom (0.65%); while banks and financial services gained 0.6% and transport 0.16% this week which saw a total of 25,492 Doha Bank-sponsored QETF worth QR234,086 traded across eight deals.
Major losers included Inma Holding, Industries Qatar, Mannai Corporation, Vodafone Qatar, Doha Bank, al khaliji, Zad Holding, Medicare Group, Woqod, Qatar Insurance, Barwa and Milaha this week which saw Qatar Insurance report gross written premium of QR7.2bn in H1, 20.
Nevertheless, Qatar Oman Investment, QGMD, Commercial Bank, Baladna, Qatar First Bank, Alijarah Holding, Dlala, Qamco, Qatar General Insurance and Reinsurance, Al Khaleej Takaful and Nakilat were among the gainers this week which saw banks, industrials and consumer goods sectors together account for about 83% of total trading volume.
Trade turnover and volumes were on the decline this week which saw the banks and financial services sector account for 32% of the total trading volume, industrials (27%), consumer goods and services (24%), real estate (10%), insurance (3%), and telecom and transport (2% each) this week.
In value, the banks and financial sector’s share was 37%, consumer goods and services (25%), industrials (19%), realty (9%), insurance (4%), and telecom and transport (3% each) this week which saw Aamal Company report H1, 20 net profit at QR20.3mn.
Qatari individuals turned net sellers to the tune of QR52.26mn compared with net buyers of QR15.19mn a week ago.
Foreign institutions were net sellers to the extent of QR31.86mn against net buyers of QR51.24mn the week ended July 23.
Foreign individuals turned net sellers to the tune of QR6.74mn compared with net buyers of QR6.8mn the previous week.
The Arab individuals were also net profit takers to the extent of QR4.72mn.
The Gulf individuals’ net selling increased perceptibly to QR0.67mn against QR0.23mn a week ago.
The Arab institutions were net sellers to the tune of QR0.4mn compared with net buyers of QR0.9mn the week ended July 23.
However, domestic funds were net buyers to the extent of QR104.53mn against net sellers of QR49.2mn the previous week.
The Gulf funds’ net profit booking eased considerably to QR8.09mn compared to QR24.03mn a week ago.
Total trading volume fell 19% to 1.05bn shares, value by 26% to QR1.69bn and transactions by 21% to 35,763.
The real estate sector saw a 50% plunge in trade volume to 105.35mn equities, 52% in value to QR155.85mn and 45% in deals to 3,868.
The transport sector’s trade volume plummeted 48% to 17.34mn stocks, value by 44% to QR54.79mn and transactions by 44% to 1,221.
The industrials sector reported 35% shrinkage in trade volume to 278.86mn shares, 28% in value to QR313.33mn and 23% in deals to 8,087.
The consumer goods sector’s trade volume tanked 17% to 251.88mn equities, value by 26% to QR418.9mn and transactions by 29% 7,286.
The telecom sector’s trade volume was down 1% to 24.38mn stocks, while value grew 6% to QR56.71mn and deals by 12% to 1,937.
However, there was a 27% surge in the banks and financial services sector’s trade volume to 336.65mn shares but a 15% decline in value to QR620.86mn despite 2% higher deals at 12,033.
The insurance sector’s trade volume expanded 8% to 33.82mn equities and value by 13% to QR65.53mn, while transactions shrank 24% to 1,331.