Domestic institutions were seen increasingly net buyers on the Qatar Stock Exchange, which otherwise closed in the negative this week amidst moves to introduce mandatory health insurance and robust outlook on the global energy prices.
Gulf institutions were seen bullish even as the 20-stock Qatar Index lost a sizeable 153 points or 1.49% this week, which saw global index compiler FTSE Russell decide to include Qatari German Medical Devices (QGMD) and Gulf Warehousing under its microcap segment.
A higher-than-average selling pressure in real estate, industrials and consumer goods shares was visible this week, which saw Milaha register QR59mn net profit in 2020.
Foreign institutions continued to bet net profit takers, but with lesser vigour this week, which saw Barwa enter into refinancing agreement with Ahli United Bank for $157.14mn.
About 42% of the traded constituents were in the red this week, which saw QGMD’s proposed acquisition of Elegancia Group fails through.
The Islamic index was seen declining faster than the other indices this week which saw a total of 3.26mn Masraf Al Rayan-sponsored exchange traded fund QATR valued at QR7.58mn change hands across 449 transactions.
Market capitalisation saw about QR4bn or 0.62% erosion to QR587.89bn, mainly on large and small cap segments this week, which saw a total of 384,642 Doha Bank-sponsored QETF valued at QR3.85mn trade across 55 deals.
The local and Arab retail investors turned net profit takers this week, which saw Qatar National Cement Company (QNCC) undertake cost optimisation drive as part of efforts to enhance shareholders equity.
Foreign individuals and the Arab funds continued to be net buyers, but with less intensity this week which saw Mazaya Qatar terminates a contract with Al Bandary.
Major shakers included Gulf International Services, Industries Qatar, Ezdan, Qatari Investors Group, QNCC, Baladna, Qatar Islamic Bank, QIIB, Inma Holding, QGMD, Salam International Investment, Woqod, Vodafone Qatar and United Development Company this week which saw QLM’s plans to foray into the retail segment by soon launching individual life and medical insurance products.
Nevertheless, Doha Insurance, QLM, Aamal Company, Al Meera Consumer Goods, QNB, Medicare Group, Qamco and Investment Holding Group were among the gainers this week which saw the industrial and banking sectors together account for more than 65% of the trading volume.
The industrials sector accounted for 48% of the total trading volume, banks and financial services (17%), consumer goods and services (12%), real estate (10%), telecom and insurance (4% each), and transport (3%) this week.
In value, the banks and financial sector’s share was 42%, industrials (27%), consumer goods and services (11%), realty (7%), telecom (6%), transport (5%) and insurance (4%) this week.
The local retail investors turned net sellers to the tune of QR72.87mn against net buyers of QR22.45mn a week ago.
The Arab individuals were net buyers to the extent of QR20.6mn compared with net buyers of QR1.98mn the previous week.
The Gulf individuals turned net sellers to the tune of QR5.03mn against net buyers of QR1.8mn the week ended February 18.
The foreign individuals’ net buying weakened marginally to QR9.3mn compared to QR9.34mn a week ago.
The Arab institutions’ net buying eased perceptibly to QR0.33mn against QR0.77mn the previous week.
However, the domestic funds’ net buying grew considerably to QR103.52mn compared to QR85.85mn the week ended February 18.
The Gulf funds were net buyers to the extent of QR3.02mn against net sellers of QR7.9mn a week ago.
The foreign funds’ net selling fell significantly to QR18.09mn compared to QR110.649mn the previous week.
Total trading volume rose 35% to 990.61mn shares, value by 40% to QR2.51bn and transactions by 42% to 59,717.
The telecom sector’s trade volume more than doubled to 43.87mn equities, value soared 60% to QR140.11mn and deals by 63% to 5,556.
The real estate sector’s trade volume almost doubled to 103.81mn stocks, value expanded 74% to QR170.99mn and transactions by 51% to 5,374.
The insurance sector reported 71% surge in trade volume to 38.45mn shares, 52% in value to QR95.43mn and 7% in deals to 1,867.
The transport sector’s trade volume soared 51% to 29.25mn equities, value by 24% to QR114.49mn and transactions by 42% to 3,415.
There was 47% expansion in the industrials sector’s trade volume to 479.18mn stocks, value by 54% to QR660.66mn and deals by 27% to 16,697.
The banks and financial services sector’s trade volume was up 4% to 171.5mn shares, value by 39% to QR1.06bn and transactions by 52% to 20,230.
However, the market witnessed less than 1% fall in the consumer goods and services sector’s trade volume to 124.55mn equities but on 3% growth in value to QR275.11mn and 48% in deals to 6,578.