Local retail investors were seen net buyers on the Qatar Stock Exchange (QSE), which otherwise closed in the negative this week.
Gulf institutions and Arab individuals were increasingly into net buying even as the 20-stock Qatar Index settled 0.29% lower this week, which saw the QSE enter into an agreement with the Moscow Exchange.
Amidst an overall bearish overhang, the domestic funds’ net selling pressure weakened this week which saw global credit rating agency Standard and Poor’s reaffirm Industries Qatar’s (IQ) rating at ‘A1’ with “stable” outlook.
There was an across the board net selling, particularly in telecom, realty, transport and insurance counters this week which saw the QSE disclose that its sustainability or ESG index is expected to be launched by this October.
Foreign institutions and individuals turned net profit takers this week which saw the QSE expect as much as $1.5bn overseas funds after the government allowed up to 100% foreign ownership limits in the listed companies.
The Gulf individuals continued to be net sellers but with lesser vigour this week which saw Barwa to offer as many as 142 residential units in Building A1 at its Dara A project in Lusail.
About 65% of the traded constituents were in the red this week which saw a total of 1.03mn Masraf Al Rayan sponsored exchange traded fund QATR valued at QR2.63mn change hands across 81 transactions.
The Arab institutions continued to be net sellers but with lesser intensity this week which saw a total of 88,480 Doha bank-sponsored QETF valued at QR930,474 trade across 12 deals.
Market capitalisation saw more than QR2bn or 0.35% decrease to QR624.09bn, mainly on mid and small cap segments this week which saw the industrials, consumer goods and banking sectors together constituted about 81% of the total trade volume.
The telecom sector index tanked 1.75%, real estate (1.65%), transport (0.9%), insurance (0.77%), industrials (0.43%), banks and financial services (0.11%) and consumer goods and services (0.05%) this week which saw the QSE also disclose its intent to list another exchange traded fund and a small and medium enterprise.
Major losers included Qatar Cinema and Film, Investment Holding Group, Vodafone Qatar, Doha Bank, Qatari German Medical Devices, QIIB, Ahlibank Qatar, Qatar National Cement, Qatar Industrial Manufacturing, IQ, Qamco, Qatar Islamic Insurance, Qatar General Insurance, Barwa, Nakilat and United Development Company this week which saw no trading of sovereign bonds.
However, Mesaieed Petrochemical Holding, Baladna, Alijarah Holding, Gulf International Services and Commercial Bank were among the important gainers this week which saw no trading of treasury bills.
The overall trade turnover fell amidst higher volumes this week which saw the industrials sector accounted for 41% of the total trade volume, consumer goods and services (22%), banks and financial services (17%), realty (11%), telecom (4%), and transport and insurance (2% each) this week.
In terms of value, the industrials sector’s share was 34% of the total, followed by banks and financial services (32%), consumer goods and services (16%), real estate (8%), telecom (4%), and transport and insurance (3% each) this week.
The foreign funds turned net sellers to the tune of QR32.08mn against net buyers of QR126.91mn the week ended June 4.
The foreign individuals were net sellers to the extent of QR12.48mn compared with net buyers of QR8.02mn a week ago.
However, Qatari individuals turned net buyers to the tune of QR40.6mn against net sellers of QR2.11mn the previous week.
The Gulf institutions’ net buying grew significantly to QR26.34mn compared to QR8.37mn the week ended June 4.
The Arab individuals’ net buying rose considerably to QR24.56mn against QR10.56mn a week ago.
The domestic funds’ net selling decreased substantially to QR44.76mn compared to QR146.55mn the previous week.
The Gulf individuals’ net selling declined markedly to QR2.18mn against QR5.49mn the week ended June 4.
The Arab funds’ net profit booking eased marginally to QR0.06mn compared to QR0.17mn a week ago.
Total trade volume rose 2% to 890.4mn shares, while value fell 6% to QR1.98bn and transactions by 3% to 46,638.
The insurance’s sector’s trade volume almost doubled to 21.74mn equities and value soared 86% to QR66.05mn, while deals fell 7% to 1,032.
There was 31% surge in the transport sector’s trade volume to 15.41mn stocks, 46% in value to QR64.3mn and 17% in transactions to 1,954.
The consumer goods and services sector’s trade volume shot up 18% to 197.46mn shares, value by 16% to QR315.21mn and deals by 1% to 5,987.
The market witnessed 12% expansion in the industrials sector’s trade volume to 368.03mn equities, 2% in value to QR673.48mn and 19% in transactions to 16,207.
The telecom sector’s trade volume grew 10% to 32.89mn stocks, whereas value tanked 38% to QR77.85mn and 38% in deals to 2,888.
However, the market witnessed 29% plunge in the real estate sector’s trade volume to 99.4mn shares, 31% in value to QR151.15mn and 12% in transactions to 4,061.
The banks and financial services sector’s trade volume shrank 15% to 155.45mn equities, value by 16% to QR632.41mn and deals by 13% to 14,509.