The domestic earnings woe had its profound impact on the Qatar Stock Exchange, which lost a sizeable more than 267 points in its key barometer and about QR23bn in capitalisation this week.
The real estate and industrials counters witnessed higher than average selling pressure this week which saw Ooredoo and Vodafone Qatar ring in net profit of QR1.47bn and QR126.73mn in the first nine months of this year.
The Islamic equities were seen declining much faster than the other indices this week which saw Industries Qatar (IQ) and Mesaieed Petrochemical Holding (MPHC) report QR951.3mn and QR330.45mn respectively in January-September this year.
About 81% of the traded constituents were in the red this week which saw Doha Bank and Baladna register 9M net profit at QR771.52mn and QR112.86mn respectively.
Trading value fell amidst higher volume this week, which saw Al Meera Holding and Gulf International Services register QR140.07mn and QR49mn respectively in January-September this year.
Foreign institutions were seen bearish and there was substantially weakened net buying by domestic funds as the 20-Qatar Index plummeted 2.68% this week which saw Al Khaleej Takaful (AKHI) and Mazaya Qatar report net profit of QR28.77mn and QR15.63mn in 9M 2020.
The Arab individuals’ weakened buying interests also had its role in dampening the market this week which saw United Development Company and Barwa’s 9M net profit at QR96mn and QR724mn respectively.
However, there was weakened net selling pressure of domestic funds and foreign individuals this week which saw Gulf Warehousing and Tradeshift join together to develop cloud-based solutions for digitalising procurement and supply chain.
Five of the seven sectors experienced selling pressure this week, which saw a total of 418,429 Masraf Al Rayan-sponsored exchange traded fund QATR valued at QR0.95mn change hands across 23 transactions.
The shakers outnumbered movers by wide margin this week which saw as many as 105,545 Doha Bank-sponsored QETF valued at QR1.02mn traded across 15 deals.
Market capitalisation eroded 3.9% to QR565.08bn, mainly on large and midcap segments this week which saw Qatar registered trade surplus of QR6.44bn in September this year.
The Total Return Index tanked 2.68%, the All Share Index by 4.09% and Al Rayan Islamic Index by 2.29% this week which saw Barwa launch Madinatna and Barahat Al Janoub projects.
The realty index plummeted 10.83%, industrials (6.94%), consumer goods and services (1.6%), transport (0.83%) and banks and financial services (0.46%); while insurance and telecom gained 1.43% and 0.1% respectively this week.
Major losers included Dlala, Qatari German Medical Devices, Ezdan, Qamco, IQ, Qatar Islamic Bank, Aamal Company, MPHC, AKHI, Baladna, Mannai Corporation, Inma Holding, UDC, Mazaya Qatar and Barwa; even as Al Khaliji, Qatar General Insurance and Reinsurance, Masraf Al Rayan, Qatar Insurance and Vodafone Qatar were among the gainers this week which saw industrials and real estate sectors together account for 56% of total trading volume.
The industrials sector accounted for 37% of the total trading volume, real estate and consumer goods (19% each), banks and financial services (18%), telecom and transport (3% each), and insurance (2%) this week.
In value, the banks and financial sector’s share was 35%, industrials (21%), realty (18%), consumer goods and services (13%), transport (6%), telecom (4%) and insurance (2%) this week.
Foreign institutions were net sellers to the tune of QR4.48mn compared with net buyers of QR47.6mn a week ago.
The Arab individuals’ net selling marginally to QR28.56mn against QR28.52mn the week ended October 22.
Domestic funds’ net buying weakened extensively to QR95.91mn compared to QR176.88mn the previous week.
The Gulf institutions’ net buying declined noticeably to QR1.07mn against QR25.08mn a week ago.
However, Qataris net selling eased notably to QR60.53mn compared to QR162.52mn the week ended October 22.
Foreign individuals’ net selling shrank considerably to QR3.41mn against QR20.15mn the previous week.
The Arab institutions’ net selling was down marginally to QR0.36mn compared to QR1.44mn a week ago.
The Gulf individuals turned net buyers to the extent of QR0.64mn against net sellers of QR36.88mn the week ended October 22.
Total trading volume grew 25% to 1.27bn shares, while value fell 1% to QR2.13bn despite 18% lower transactions at 47,699.
The consumer goods sector’s trade volume more than doubled to 235.88mn equities, value soared 30% to QR286.98mn and deals by 35% to 7,122.
The telecom sector’s trade volume more than doubled to 42.28mn stocks, value expanded 66% to QR84.14mn and transactions by 83% to 3,345.
The industrials sector reported 30% surge in trade volume to 468.79mn shares, 14% in value to QR453.95mn and 10% in deals to 10,906.
The banks and financial services sector’s trade volume expanded 8% to 222.99mn equities, whereas value shrank 3% to QR741.87mn despite 22% higher transactions at 14,563.
There was 2% jump in the real estate sector’s trade volume to 242.39mn stocks but saw 20% decline in value to QR381.38mn despite 5% higher deals at 7,890.
The insurance sector’s trade volume was up 1% to 24.69mn shares, while value was down 4% to QR48.9mn despite 19% higher transactions at 1,095.
However, the transport sector’s trade volume tanked 37% to 37.27mn equities, 27% in value to QR134.18mn and 10% in deals to 2,778.