The Islamic stocks were seen in heavy demand on the Qatar Stock Exchange whose key barometer soared 183 points and capitalisation added more than QR12bn this week.
The industrials, transport and real estate counters witnessed higher than average demand this week which saw Widam Food disclose that the government has ended the subsidy for the Australian fresh and chilled meat.
Foreign and Gulf funds turned bullish as the 20-stock Qatar Index gained 1.81% this week which saw the global credit rating agency Moody’s reconfirm the long-term deposit rating of Qatar Islamic Bank (QIB) at 'A1', with a "stable" outlook.
The foreign retail investors were seen marginally bullish and there was weakened net selling pressure from the Gulf individuals this week which saw Dlala’s real estate subsidiary buy a residential building in the Lusail city.
Nevertheless, local and Arab retail investors were increasingly net sellers and domestic funds turned bearish this week which saw a total of 956,981 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR2.25mn change hands across 106 transactions.
Trading value and volume were on the increase this week which saw as many as 90,045 Doha Bank-sponsored QETF valued at QR906,443 trade across 12 deals.
Market capitalisation saw 2.14% increase to QR519.49bn, mainly on large and small cap segments this week which saw the real estate and industrials counters together constitute about 54% of the total trading volume.
The Total Return Index soared 1.81%, the All Share Index by 1.64% and Al Rayan Islamic Index by 2.06% this week which saw the Arab institutions turn marginally net profit takers.
The industrials index shot up 4.82%, transport (2.38%), realty (2.24%), banks and financial services (0.96%) and telecom (0.52%); while insurance fell 1.06% and consumer goods and services 0.08% this week which saw more than 80% of the constituents extend gains to investors.
Major gainers included Industries Qatar, Ezdan, Qatar General Insurance and Reinsurance, Al Meera, QIB, QIIB, Al Khaliji, Alijarah Holding, Dlala, Gulf International Services, Aamal Company, Qamco, Doha Insurance, Vodafone Qatar, Milaha and Nakilat; even as Widam Food, Qatar Insurance, Inma Holding, Baladna and Doha Bank were among the losers this week.
The real estate sector accounted for 30% of the total trading volume, industrials (24%), banks and financial services (16%), transport (15%), consumer goods and services (13%), insurance (2%) and telecom (1%) this week.
In value, the banks and financial sector’s share was 29%, transport (23%), realty (21%), industrials (14%), consumer goods and services (10%), and telecom and insurance (2% each) this week.
Foreign institutions’ net buying increased significantly to QR137.86mn against QR58.4mn the week ended November 19.
The Gulf funds turned net buyers to the tune of QR16.94mn compared with net sellers of QR3.69mn a week ago.
Foreign individuals were also net buyers to the extent of QR2.32mn against net sellers of QR5.31mn the previous week.
The Gulf individuals’ net selling declined markedly to QR3.02mn compared to QR14.54mn the week ended November 19.
However, local retail investors’ net profit booking grew substantially to QR95.39mn against QR76.4mn a week ago.
Domestic funds turned net sellers to the tune of QR41.08mn compared with net buyers of QR45.24mn the previous week.
The Arab individuals’ net profit booking jumped noticeably to QR17.64mn against QR2.54mn the week ended November 19.
The Arab institutions were net sellers to the extent of QR0.02mn compared with net buyers of QR0.02mn a week ago.
Total trading volume rose 6% to 1.04bn shares, value by 1% to QR2.32bn and transactions by 8% to 54,325.
The industrials sector saw 54% surge in trade volume to 248.1mn equities, 49% in value to QR317.33mn and 21% in deals to 8,968.
The consumer goods sector’s trade volume soared 28% to 130.83mn stocks, value by 9% to QR235.53mn and transactions by 16% to 5,372.
The market witnessed 16% expansion in the transport sector’s trade volume to 153.98mn shares, 22% in value to QR532.33mn and 39% in deals to 11,517.
The real estate sector’s trade volume was up 4% to 312.07mn equities, value by 7% to QR477.01mn and transactions by 16% to 10,362.
However, the insurance sector reported 65% plunge in trade volume to 18.6mn stocks, 64% in value to QR44.25mn and 57% in deals to 734.
The telecom sector’s trade volume plummeted 38% to 13.74mn shares, value by 33% to QR47.41mn and transactions by 4% to 2,249.
The banks and financial services sector saw 22% contraction in trade volume to 164.8mn equities, 17% in value to QR666.94mn and 10% in deals to 15,123.