The volatility in the US presidential election had its wider manifestations on the global financial market, including the Qatar Stock Exchange (QSE), which added 198 points to its key index and QR9bn in capitalisation this week.
Foreign funds’ robust bullish outlook had its overarching influence on the bourse this week which saw Gulf Helicopters, an associate of the Gulf International Services (GIS), foray into Angola, Oman and South Africa.
Arab individuals’ substantially weakened net selling pressure also had its role in supporting the overall positive sentiments this week, which saw the QSE-listed companies cumulatively report net profit of QR23.8bn in the first nine months of this year.
The industrials and telecom counters witnessed higher than average demand, as the 20-stock Qatar Index settled 2.05% higher this week, which saw Mazaya Qatar disclose its intention to acquire four buildings in the fast-coming-up Ariane City project for QR106mn.
The Islamic equities were seen gaining slower than the main barometer this week which saw a Qatar Financial Centre survey paint a rosy picture for the non-energy private sector in the fourth quarter owing to sustained rebound in business conditions.
More than 53% of the traded constituents extended gains to investors this week, which, however, saw increased net selling by local retail investors.
Trading value and volume were on the decline this week which saw as many as 480,120 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR1.08mn change hands across 34 transactions.
The Gulf individuals were seen net profit takers and there was substantially increased net selling by local retail investors this week which saw a total of 106,000 Doha Bank-sponsored QETF valued at QR1.01mn trade across 14 deals.
The domestic funds continued to be net buyers but with lesser intensity this week which saw six of the seven sectors experience buying interests.
Market capitalisation rose 1.58% to QR574.01bn, mainly on mid and small cap segments this week which saw the Gulf funds turn bearish.
The Total Return Index shot up 2.05%, the All Share Index by 1.83% and Al Rayan Islamic Index by 1.96% this week which saw the Arab funds continue to be net sellers but with lesser vigour.
The industrials index soared 4.25%, telecom (2.06%), banks and financial services (1.65%), real estate (0.99%), consumer goods and services (0.66%) and insurance (0.21%); while transport declined 0.6% this week.
Major gainers included Qamco, Mesaieed Petrochemical Holding, Industries Qatar, United Development Company, QNB, Qatar First Bank, Mannai Corporation, Qatar Electricity and Water, Doha Insurance, Mazaya Qatar and Ooredoo; even as Inma Holding, GIS, Ezdan, al khaliji, Alijarah Holding, Dlala, Medicare Group, Qatar Industrial Manufacturing, Qatari Investors Group and Nakilat were among the losers this week which saw industrials and real estate sectors together account for more than 59% of total trading volume.
The industrials sector accounted for 37% of the total trading volume, real estate (22%), consumer goods (17%), banks and financial services (16%), and insurance, telecom and transport (2% each) this week.
In value, the banks and financial sector’s share was 36%, industrials (22%), realty (19%), consumer goods and services (12%), transport (5%), telecom (4%) and insurance (3%) this week.
Foreign institutions turned net buyers to the tune of QR31.49mn compared with net sellers of QR4.48mn a week ago.
The Arab individuals’ net selling declined substantially to QR4.72mn against QR28.56mn the week ended October 29.
Foreign individuals’ net profit booking eased notably to QR0.16mn compared to QR3.41mn the previous week.
The Arab institutions’ net selling also weakened but marginally to QR0.13mn against QR0.36mn a week ago.
However, Qataris net selling increased significantly to QR71.79mn compared to QR60.53mn the week ended October 29.
The Gulf individuals turned net sellers to the tune of QR5.2mn against net buyers of QR0.64mn the previous week.
The Gulf funds were also net sellers to the extent of QR2.2mn compared with net buyers of QR1.07mn a week ago.
Domestic funds’ net buying weakened extensively to QR52.58mn against QR95.91mn the week ended October 29.
Total trading volume fell 22% to 990.08mn shares, value by 26% to QR1.57bn and transactions by 17% to 39,801.
The telecom sector’s trade volume plummeted 51% to 20.75mn equities, value by 31% to QR58.29mn and deals by 42% to 1,943.
There was 35% plunge in the transport sector’s trade volume to 24.29mn stocks, 41% in value to QR79.28mn and 8% in transactions to 2,555.
The consumer goods sector’s trade volume tanked 27% to 171.31mn shares, value by 34% to QR190.73mn and deals by 24% to 5,420.
The banks and financial services sector saw 27% shrinkage in trade volume to 161.93mn equities, 24% in value to QR577.34mn and 17% in transactions to 12,125.
The industrials sector’s trade volume shrank 21% to 368.09mn stocks, value by 24% to QR343.38mn and deals by 12% to 9,617.
The market witnessed 9% contraction in the real estate sector’s trade volume to 219.49mn shares, 24% in value to QR291.18mn and 9% in transactions to 7,163.
The insurance sector’s trade volume was down 2% to 24.22mn equities, value by 10% to QR44.15mn and deals by 11% to 978.