The Qatar Stock Exchange saw more than 57% of the traded constituents extend gains to investors, yet it settled lower this week, which otherwise witnessed a deficit state budget for the fiscal 2021.
Strong buying interests was seen in three of the four sectors this week which saw Qatar indicate its intention to tap the domestic and global debt market to cover the expected QR36.4bn shortfall in its 2021 budget.
The bullish outlook of the Gulf funds and the weakened net selling by the Arab individuals notwithstanding, the 20-stock Qatar Index settled 0.19% lower this week, which saw QLM Medical and Life Insurance’s initial public offering began subscription on Thursday.
The industrials, insurance and banking counters witnessed higher than average profit booking pressure this week which saw Vodafone Qatar and National Tourism Council enter into pact to harness big data.
Foreign funds’ substantially weakened net buying support had its key role in the overall bearish sentiments in the market this week, which saw Gulf Warehousing Company sign pact with Bridgestone International handle to the latter’s supply chain management requirements in Qatar for five years.
The selling pressure from local retail investors and domestic funds weakened this week which saw a total of 668,122 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR1.62mn change hands across 77 deals.
Trading value and volume were on the decline this week which saw as many as 19,100 Doha Bank-sponsored QETF valued at QR196,820 traded across six transactions.
Market capitalisation saw QR80mn or 0.13% decline to QR603.13bn, mainly on microcap segments this week which saw global credit rating agency Moody’s affirm QIIB’s rating of ‘A2’ with a stable outlook.
The Total Return Index was down 0.19%, the All Share Index by 0.31% and Al Rayan Islamic Index by 0.31% this week which saw the real estate, industrials and banking counters together constitute about three-fourth of the total trading volume.
The industrials index tanked 1.98%, insurance (0.91%), banks and financial services (0.59%) and consumer goods and services (0.28%); while transport shot up 4.28%, telecom (3.14%) and real estate (1.98%) this week.
Major losers included Widam Food, Baladna, Industries Qatar, Commercial Bank, Qatar Industrial Manufacturing, QNB, Al Khaliji, Mannai Corporation, Gulf International Services, Mesaieed Petrochemical Holding, Qamco and Barwa this week.
Nevertheless, Milaha, Qatari German Medical Devices, Salam International Investment, United Development Company, Qatar Oman Investment, Qatar First Bank, Alijarah Holding, Medicare Group, Aamal Company, Investment Holding Group, Ezdan, Mazaya Qatar, Ooredoo and Nakilat were among the gainers this week.
The industrials sector accounted for 27% of the total trading volume, realty (24%), banks and financial services (24%), consumer goods and services (19%), transport (3%), telecom (2%) and insurance (1%) this week.
In value, the banks and financial sector’s share was 37%, real estate (21%), consumer goods and services (16%), industrials (15%), transport (7%), telecom (4%) and insurance (1%) this week.
Foreign funds’ net buying decreased significantly to QR84.73mn compared to QR238.78mn the week ended December 3.
The Gulf individuals’ net buying weakened perceptibly to QR0.84mn against QR2.85mn the previous week.
However, the Gulf funds were net buyers to the tune of QR41.1mn compared with net sellers of QR10.59mn a week ago.
The foreign individuals were net buyers to the extent of QR3.66mn against net sellers of QR2.44mn the week ended December 3.
Local retail investors’ net selling declined substantially to QR74.88mn compared to QR126.73mn the previous week.
Domestic institutions’ net profit booking shrank markedly to QR49.26mn against QR68.86mn a week ago.
The Arab individuals’ net selling sunk noticeably to QR5.63mn compared to QR29.24mn the week ended December 3.
The Arab funds’ net profit booking eased notably to QR0.59mn against QR3.18mn the previous week.
Total trading volume fell 2% to 1.41bn shares, value by 31% to QR2.82bn and transactions by 18% to 59,846.
The transport sector’s trade volume plummeted 86% to 41.39mn equities, value by 81% to QR184.66mn and deals by 68% to 4,106.
There was 48% plunge in the insurance sector’s trade volume to 16.47mn stocks, 49% in value to QR37.28mn and 47% in transactions to 954.
The telecom sector’s trade volume was down 9% to 27.13mn shares, value by 7% to QR109.2mn and deals by 10% to 3,387.
However, the industrials sector saw 36% surge in trade volume to 384.39mn equities but on 9% decline in value to QR416.88mn and 8% in transactions to 11,356.
The consumer goods sector’s trade volume shot up 25% to 269.73mn stocks, while value was down 1% to QR444.86mn despite 17% higher deals at 9,435.
The banks and financial services sector reported 18% expansion in trade volume to 331.36mn shares but on 1% dip in value to QR1.04bn and 19% in transactions to 18,640.
The real estate sector’s trade volume was up 12% to 339.15mn equities, value by 9% to QR586.73mn and deals by 7% to 11,968.