Domestic funds as well as local and foreign retail investors turned net buyers in an otherwise bearish Qatar Stock Exchange (QSE) this week, which saw energy prices soften after major global oil producers struck a compromise deal on supply.
The Gulf individuals were increasingly bullish even as the 20-stock Qatar Index tanked 1.35% to below the 10,700 levels this week which saw the QSE announce that Mekdam Holding will start trading in the venture market from August 2.
An across the board selling - especially in the transport, industrials and real estate sectors - dampened the overall sentiments in the market this week which saw QNB report QR6.8bn net profit in the first half (H1) of 2021.
Foreign institutions and Arab individuals turned net profit takers this week which saw Masraf Al Rayan and Al Khaliji, both of which are right now in the merger hangar, report H1 net profit of QR1.14bn and QR372mn respectively.
The Gulf institutions weakened net profit booking also had its influence this week, which saw Ahlibank Qatar register net profit of QR308.43mn in January-June this year.
The Arab institutions continued to be net sellers but with lesser intensity this week which saw Nakilat record QR636mn net profit in H1 2021.
More than 85% of the constituents were in the red this week which saw a total of 158,860 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR388,414 change hands across 30 deals.
The Islamic index was seen declining slower than the other indices this week which saw a total of 102,276 Doha bank-sponsored QETF valued at QR1.08mn trade across 14 transactions.
Market capitalisation saw more than QR9bn or 1.44% erosion to QR618.79bn, mainly on large and small cap segments this week which saw the industrials and consumer goods and services sectors together constitute more than 53% of the total trade volume.
The transport sector plummeted 3.15%, industrials (1.94%), realty (1.43%), banks and financial services (0.85%), consumer goods and services (0.54%), telecom (0.37%) and insurance (0.3%) this week which saw no trading of sovereign bonds.
Major losers included Industries Qatar, Nakilat, Qatar National Cement, Ezdan, Qatar Islamic Bank, Commercial Bank, Aamal Company, Mazaya Qatar, Vodafone Qatar, Qatari Investors Group, Ahlibank Qatar, Alijarah Holding, Salam International Investment and Widam Food this week which saw no trading treasury bills.
The overall trade turnover and volumes were on the decline this week which saw the industrials account for 30% of the total trade volume, consumer goods and services 24%, banks and financial services (18%), real estate (16%), transport (7%), telecom (4%) and insurance (1%).
In terms of value, the banks and financial services sector’s share was 37% of the total, industrials (22%), consumer goods and services (16%), transport (9%), realty (8%), telecom (6%) and insurance (1%) this week.
Foreign funds turned net sellers to the tune of QR69.21mn compared with net buyers of QR68.27mn the week ended July 8.
The Arab individuals turned net sellers to the extent of QR5.91mn against net buyers of QR5.41mn a week ago.
The Gulf institutions’ net buying declined perceptibly to QR29.43mn compared to QR38.85mn the previous week.
However, domestic funds were net buyers to the tune of QR24.62mn against net sellers of QR65.76mn the week ended July 8.
Qatari individuals turned net buyers to the extent of QR16.12mn compared with net sellers of QR29.36mn a week ago.
The Gulf individuals’ net buying strengthened markedly to QR3.05mn against QR0.76mn the previous week.
Foreign individuals were net buyers to the tune of QR1.91mn compared with net sellers of QR17.83mn the week ended July 8.
The Arab institutions’ net profit booking eased marginally to QR0.01mn against QR0.33mn a week ago.
Total trade volume fell 23% to 450.15mn shares, value by 10% to QR1.29bn and transactions by 5% to 31,603.
There was 52% plunge in the insurance’s sector’s trade volume to 4.75mn equities, 57% in value to QR16.64mn and 44% in deals to 542.
The real estate sector’s trade volume plummeted 38% to 73.59mn stocks, value by 36% to QR105.95mn and transactions by 26% to 3,347.
The market witnessed 30% shrinkage in the industrials sector’s trade volume to 134.17mn shares, 25% in value to QR284.83mn and 11% in deals to 7,430.
The consumer goods and services sector’s trade volume tanked 18% to 106.45mn equities, value by 13% to QR208.22mn and transactions by 20% to 4,840.
The transport sector saw 6% contraction in trade volume to 32.3mn stocks and 9% in value to QR114.92mn but on 2% jump in deals to 2,620.
The banks and financial services sector’s trade volume was down 4% to 79.4mn shares, whereas value grew 17% to QR479.64mn and transactions by 20% to 9,168.
However, the market witnessed 16% expansion in the telecom sector’s trade volume to 19.49mn equities, 13% in value to QR79.28mn and 16% in deals to 3,656.