Global positive factors as the Covid-19 vaccine and robust domestic pipeline of projects had influenced the Qatar Stock Exchange, which witnessed more than 175 points addition to its key index and QR12bn in capitalisation this week.
The Islamic stocks were seen in heavy demand this week, which saw QLM Life and Medical Insurance Company, a subsidiary of Qatar Insurance Company, announce its 60% initial public offer through which it aims to garner as much as QR659.4mn.
The real estate, insurance and industrials counters witnessed higher than average demand this week which saw Oxford Economics view that the 2022 World Cup is expected to strengthen the economic momentum in Qatar, which has the strongest public finances in the Gulf region.
Foreign funds were increasingly bullish as the 20-stock Qatar Index gained 1.7% this week which saw Qatar registered an almost four-fold jump in general cargo movement through its Hamad, Doha and Al Ruwais ports this November, and the second highest handled in one month.
About 81% of the traded constituents extended gains this week which saw the Gulf retail investors turn marginally bullish.
Nevertheless, local retail investors and domestic funds were increasingly net sellers this week which saw a total of 848,337 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR2mn change hands across 83 deals.
Trading value and volume were on the increase this week which saw as many as 24,070 Doha Bank-sponsored QETF valued at QR243,991 trade across eight transactions.
Market capitalisation saw 2.1% increase to QR603.93bn, mainly on large and midcap segments this week which saw the real estate, transport, industrials and banking counters together constitute about 81% of the total trading volume.
The Total Return Index soared 1.7%, the All Share Index by 1.65% and Al Rayan Islamic Index by 2.46% this week which saw the Gulf institutions and the Arab individuals turn net profit takers.
The realty index soared 5%, insurance (3.34%), industrials (2.76%), consumer goods and services (1.22%), banks and financial services (1.2%) and telecom (0.87%); whereas transport declined 0.57%.
Major gainers included Inma Holding, Qatari German Medical Devices, Qatar Industrial Manufacturing, Qatar Industrial Manufacturing, Ezdan, Qamco, QNB, QIIB, Masraf Al Rayan, Al Khaliji, Qatar First Bank, Dlala, Baladna, Qatar National Cement, Industries Qatar, Aamal Company, Qatari Investors Group, Qatar Electricity and Water, Qatar Insurance, Ooredoo and Gulf Warehousing; even as Widam Food, Nakilat, Commercial Bank, Al Meera and Mannai Corporation were among the losers this week.
The real estate and transport sectors accounted for 21% each of the total trading volume, industrials (20%), banks and financial services (19%), consumer goods and services (15%), and telecom and insurance (2% each) this week.
In value, the banks and financial sector’s share was 36%, transport (24%), realty (13%), industrials and consumer goods and services (11% each), telecom (3%) and insurance (2%) this week.
Foreign funds’ net buying increased significantly to QR238.78mn compared to QR137.86mn the week ended November 26.
The Gulf individuals turned net buyers to the tune of QR2.85mn against net sellers of QR3.02mn the previous week.
However, local retail investors’ net selling grew substantially to QR126.73mn compared to QR95.39mn a week ago.
Domestic funds’ net profit booking also rose markedly to QR68.86mn against QR41.08mn the week ended November 26.
The Arab individuals’ net selling expanded noticeably to QR29.24mn compared to QR17.64mn the previous week.
The Gulf funds were net sellers to the extent of QR10.59mn against net buyers of QR16.94mn a week ago.
The Arab funds’ net selling grew noticeably to QR3.18mn compared to QR0.02mn the week ended November 26.
Foreign individuals were net sellers to the tune of QR2.44mn against net buyers of QR2.32mn the previous week.
Total trading volume rose 38% to 1.44bn shares, value by 76% to QR4.07bn and transactions by 34% to 79,208.
The telecom sector’s trade volume more than doubled to 29.94mn equities and value more than doubled to QR117.91mn on 68% increase in deals to 3,784.
The market witnessed 92% surge in the transport sector’s trade volume to 296.8mn stocks, 85% in value to QR985.74mn and 11% in transactions to 12,833.
The banks and financial services sector’s trade volume soared 70% to 280.53mn shares and value more than doubled to QR1.46bn on 52% growth in deals to 22,950.
There was 69% expansion in the insurance sector’s trade volume to 31.39mn equities and 66% in value to QR73.4mn on more than doubled transactions to 1,793.
The consumer goods sector’s trade volume shot up 66% to 216.55mn stocks, value by 90% to QR448.5mn and deals by 50% to 8,072.
The industrials sector saw 14% jump in trade volume to 282.07mn shares, 44% in value to QR456.58mn and 37% in transactions to 12,308.
However, the real estate sector’s trade volume was down 3% to 302.53mn equities, whereas value increased 13% to QR537.14mn and deals by 8% to 11,168.