The Qatar Stock Exchange witnessed more than 55% of its traded constituents extend gains to investors this week which featured the global credit rating agency Fitch hint that Qatar may tap the debt market in 2022-25, pending North Field expansion ramp-up.
The telecom, industrials, banking and real estate counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.57% higher this week, which saw Nakilat assume the technical ship management and operations of the floating storage and regasification unit 'Exquisite' from Excelerate Technical Management.
Foreign institutions’ strong bullish outlook was instrumental in lifting the sentiments this week which saw the Qatar Financial Centre say Doha is focused on establishing a cashless society as the role of fintechs surges in the post-pandemic world economic recovery with demand for cashless and contactless payment drastically increasing.
Local retail investors were seen net buyers, albeit with lower intensity, this week, which saw a Fitch report that said the refinancing of maturing debt and the current low rate regime prompt the Gulf corporate sector to increasingly tap the debt markets in 2021.
Domestic institutions and Arab individuals were increasingly net profit takers this week which saw a total of 153,801 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR369,304 change hands across 16 deals.
Trading value and volume were on the increase this week which saw as many as 15,160 Doha Bank-sponsored QETF valued at QR156,250 trade across five transactions.
Market capitalisation saw more than QR4bn or 0.69% jump to QR608.01bn, mainly on mid and microcap segments this week which saw five of the seven sectors witness buying interests.
The Total Return Index gained 0.57%, the All Share Index by 0.61% and Al Rayan Islamic Index by 0.48% this week which saw the industrials and banking counters together constitute more than 60% of the total trading volume.
The telecom index shot up 4.4%, industrials (1.19%), banks and financial services (0.67%), realty (0.63%) and insurance (0.01%); whereas transport declined 1.2% and consumer goods and services (1.01%) this week.
Major gainers included Gulf International Services, Qatari German Medical Devices, Ooredoo, Qatar National Cement, Masraf Al Rayan, Alijarah Holding, Industries Qatar and Mazaya Qatar this week.
Nevertheless, Qatar Industrial Manufacturing, Medicare Group, Inma Holding, Ahlibank Qatar, Dlala, Mannai Corporation, Baladna, Qamco and Nakilat were among the losers this week.
The industrials sector accounted for 34% of the total trading volume, banks and financial services (26%), consumer goods and services (18%), realty (16%), telecom (3%), transport (2%) and insurance (1%) this week.
In value, the banks and financial sector’s share was 40%, industrials (23%), consumer goods and services (15%), real estate (12%), telecom (5%), transport (4%) and insurance (1%) this week.
The foreign funds’ net buying increased substantially to QR115.72mn against QR76.92mn the week ended December 17.
Local retail investors turned net buyers to the tune of QR0.22mn compared with net sellers of QR83.07mn a week ago.
However, domestic funds’ net selling rose significantly to QR81.66mn against QR35.57mn the previous week.
The Arab individuals’ net selling grew considerably to QR20.96mn compared to QR1.86mn the week ended December 17.
The Gulf funds turned net sellers to the extent of QR12.23mn against net buyers of QR32.04mn a week ago.
The foreign individuals were net sellers to the tune of QR6.11mn compared with net buyers of the previous week.
However, the Gulf individuals’ net buying declined noticeably to QR3.93mn against QR7.26mn the week ended December 17.
The Arab institutions’ net buying eased marginally to QR0.76mn compared to QR0.89mn a week ago.
Total trading volume rose 68% to 1.06bn shares, value by 17% to QR2.18bn and transactions by 16% to 44,034.
The industrials sector’s trade volume more than doubled to 355.93mn equities and value more than doubled to QR506.44mn on 85% growth in deals to 10,347.
The consumer goods sector’s trade volume more than doubled to 190.01mn stocks and value also more than doubled to QR331.53mn on 80% increase in transactions to 7,168.
There was 70% surge in the real estate sector’s trade volume to 172.37mn shares, 50% in value to QR265.52mn and 20% in deals to 6,080.
The banks and financial services sector’s trade volume expanded 13% to 279.67mn equities, while value declined 14% to QR0.87bn and transactions by 10% to 14,430.
However, the transport sector saw 31% plunge in trade volume to 22.05mn stocks, 27% in value to QR81.49mn and 19% in deals to 1,909.
The telecom sector’s trade volume tanked 10% to 28.32mn shares, value by 33% to QR106.96mn and transactions by 21% to 3,411.
The market witnessed 3% shrinkage in the insurance sector’s trade volume to 9.94mn equities and 9% in value to QR23.68mn but on 37% jump in deals to 689.