Steered by foreign funds and individuals, the Qatar Stock Exchange traversed through the positive trajectory this week.
The Gulf institutions were also increasingly net buyers as the 20-stock Qatar Index settled 0.19% higher this week which saw the Qatar Financial Market Authority (QFMA) approve the proposed merger between Masraf Al Rayan and Al Khaliji.
The industrials, insurance and consumer goods counters witnessed higher than average demand this week which saw a Kamco Invest report that found the Qatar’s banks’ average return on equity to be 11.6% in the first quarter of 2021, higher than the Gulf average.
The bullish outlook of the Gulf individuals also had its role in lifting the sentiments on the market this week which saw the QFMA approve the listing of Mekdam Holding Group on the venture market.
Local retail investors continued to be net buyers but with lesser intensity this week which saw Qatar’s core inflation grow faster than the general consumer price index level in May this year.
Four of the seven sectors extended gains this week which saw a total of 4.42mn Masraf Al Rayan sponsored exchange traded fund QATR valued at QR10.53mn change hands across 123 transactions.
The domestic institutions were increasingly into net sellers this week which saw a total of 175,107 Doha bank-sponsored QETF valued at QR1.86mn trade across 27 deals.
Market capitalisation saw QR22mn or 0.04% decrease to QR623.87bn, mainly on microcap segments this week which saw the industrials and real estate sectors together constituted more than 55% of the total trade volume.
The industrials sector index gained 1.7%, insurance (0.81%), consumer goods and services (0.34%) and transport (0.06%); whereas telecom gained 2.05%, realty (1.74%) and banks and financial services (0.39%) this week which saw the Institute of Chartered Accountants of England and Wales report that forecasted the Gulf growth to grow to 2.1% this year.
Major gainers included Qatar General Insurance and Reinsurance, Industries Qatar, Al Meera Consumer Goods, Mannai Corporation, Qatar Electricity and Water Company, QIIB and al khaliji this week which saw no trading of sovereign bonds.
However, Ooredoo, QLM, Qamco, United Development Company, Qatar Islamic Bank, Vodafone Qatar, Mesaieed Petrochemical Holding, Baladna, Ezdan, Mazaya Qatar and Gulf International Services were among the important gainers this week which saw no trading of treasury bills.
The overall trade turnover rose amidst lower volumes this week which saw the industrials sector accounted for 37% of the total trade volume; real estate, banking and consumer goods and services (18% each), telecom (4%), transport (3%) and insurance (2%) this week.
In terms of value, the industrials sector’s share was 41% of the total, followed by banks and financial services (29%), consumer goods and services (10%), real estate (9%), telecom (5%), transport (4%) and insurance (2%) this week.
The foreign funds turned net buyers to the tune of QR40.51mn against net sellers of QR32.08mn the week ended June 11.
The Gulf institutions’ net buying grew markedly to QR32.41mn compared to QR26.34mn the previous week.
The foreign individuals were net buyers to the extent of QR9.25mn against net sellers of QR12.48mn a week ago. Gulf individuals turned net buyers to the tune of QR4mn compared with net sellers of QR2.18mn the week ended June 4.
However, the domestic funds’ net selling grew substantially to QR103.7mn against QR44.76mn the previous week.
The Arab individuals turned net sellers to the extent of QR2.36mn compared with net buyers of QR24.56mn a week ago.
Qatari individuals’ net buying weakened notably to QR19.89mn against QR40.6mn the week ended June 4.
The Arab funds had no major next exposure compared with net profit takers of QR0.06mn the previous week.
Total trade volume fell 18% to 730.7mn shares, while value rose 16% to QR2.29bn amidst 4% lower transactions at 44,603.
The insurance’s sector’s trade volume plummeted 43% to 12.31mn equities and value by 23% to QR56.18mn, while deals grew 22% to 1,263.
The consumer goods and services sector reported 33% in shrinkage in trade volume to 131.63mn stocks, 27% in value to QR231.43mn and 14% in transactions to 5,132.
The industrials sector’s trade volume tanked 27% to 268.59mn shares, while value expanded 38% to QR929.95mn despite 17% lower deals at 13,525.
The banks and financial services sector saw 15% shrinkage in trade volume to 131.77mn equities but on 5% growth in value to QR661.78mn in spite of 6% decline in transactions to 13,632.
The telecom sector’s trade volume was down 9% to 30.04mn stocks, whereas value shot up 52% to QR118.71mn and deals by 34% to 3,872.
However, there was 47% surge in the transport sector’s trade volume to 22.62mn shares, 48% in value to QR94.99mn and 23% in transactions to 2,394.
However, the real estate sector’s trade volume soared 35% to 133.81mn equities, value by 37% to QR206.81mn and deals by 18% to 4,785.