The Qatar Stock Exchange settled above 11,100 points this week, mainly on the back of increased buying interests of the foreign institutions.
The industrials, telecom, insurance and banking counters witnessed higher-than-average demand as the 20-stock Qatar Index settled 0.26% higher this week, which saw Qatar Electricity and Water Company’s subsidiary Nebras Power form a joint venture in Brazil as part of strengthening its regional aspirations in Latin America.
The weakened net selling pressure from local retail investors and domestic funds also had its role in the market this week, which saw Investing Holding Group, Gulf International Services (GIS), Salam International (SIL) and Vodafone Qatar find place in the 20-stock barometer, effective from October 1.
More than 51% of the traded constituents extended gains this week, which saw the Qatar Financial Centre’s purchasing managers’ index point to the rising optimism in Doha’s business environment, especially in the non-energy private sector, in August.
Nevertheless, the Gulf funds and individuals were seen net sellers in the week, which saw Qatar witness robust month-on-month jump in building permits issued this August.
The Arab individuals and institutions were also seen net profit takers this week, which saw a total of 84,466 Masraf Al Rayan-sponsored exchange traded fund QATR valued at QR209,191 change hands across 18 deals.
The foreign individuals were seen net sellers this week, which saw a total of 79,705 Doha Bank-sponsored QETF valued at QR859,592mn trade across 11 transactions.
Market capitalisation saw about QR2bn, or 0.26%, jump to QR639.44bn, mainly on small cap segments this week, which saw the industrials, consumer goods and services and banking sectors together constitute about 88% of the total trade volume.
The Total Return Index rose 0.26%, the All Share Index by 0.31% and the All Islamic Index by 0.28% this week, which saw no trading of sovereign bonds.
The industrials sector index expanded 0.8%, telecom (0.74%), insurance (0.4%) and banks and financial services (0.28%); whereas transport declined 0.66%, real estate (0.13%) and consumer goods and services (0.03%) this week, which saw no trading of treasury bills.
Major movers included Investment Holding Group, Qamco, Qatar General Insurance and Reinsurance, Qatar First Bank, Doha Insurance, QNB, Commercial Bank, SIL, Widam Food, GIS and Vodafone Qatar this week, which saw the overall trade turnover decline amidst higher volumes.
Nevertheless, Al Khaleej Takaful, Qatari Investors Group, Al Khaliji, Dlala, Medicare Group, Ezdan and Nakilat were among the losers this week, which saw Al Khaleej Takaful, Investment Holding Group and Ooredoo to join the Al Rayan Islamic Index.
The industrials sector accounted for 46% of the total trade volume, consumer goods and services (23%), banks and financial services (19%), real estate (7%), telecom and transport (2% each), and insurance (1% each) this week, which saw QLM set to join QE All Share Index and QE insurance index from October 1.
In terms of value, the banks and financial services’ share stood at 37% of the total, industrials (34%), consumer goods and services (16%), realty (5%), telecom (4%), transport (3%) and insurance (1%) this week.
The foreign funds’ net buying increased significantly to QR151.22mn against QR104.82mn the week ended September 2.
The domestic funds’ net selling weakened marginally to QR96.4mn compared to QR97.44mn a week ago.
Qatari individuals’ net profit booking fell perceptibly to QR24.98mn against QR26.99mn the previous week.
However, the Arab individuals turned net sellers to the tune of QR14.85mn compared with net buyers of QR5.01mn the week ended September 2.
The Gulf institutions were net sellers to the extent of QR6.75mn against net buyers of QR10.27mn a week ago.
The foreign individuals turned net sellers to the tune of QR5.72mn compared with net buyers of QR1.29mn the previous week.
The Gulf individuals were net sellers to the extent of QR2.31mn against net buyers of QR2.4mn the week ended September 2.
The Arab funds turned net profit takers to the tune of QR0.22mn compared with net buyers of QR0.65mn a week ago.
Total trade volume rose 2% to 796.07mn shares, while value shrank 13% to QR1.72bn and transactions by 4% to 42,356.
The banks and financial services sector saw a 14% surge in trade volume to 154.97mn equities but on a 15% decline in value to QR632.65mn and 6% in deals to 14,095.
The transport sector’s trade volume grew 8% to 15.68mn stocks, value by 9% to QR56.08mn and transactions by 38% to 1,917.
There was a 3% increase in the consumer goods and services sector’s trade volume to 181.08mn shares but on a 16% shrinkage in value to QR266.54mn and 11% in deals to 5,780.
The industrials sector’s trade volume was up 2% to 363.65mn equities, while value shrank 8% to QR592.15mn and transactions by 8% to 12,377.
However, the insurance sector reported a 27% plunge in trade volume to 7.48mn stocks, 28% in value to QR23.03mn and 24% in deals to 600.
The real estate sector’s trade volume plummeted 18% to 58.46mn shares, value by 16% to QR82.07mn and transactions by 8% to 3,483.
The telecom sector saw a 4% contraction in trade volume to 14.74mn equities and 14% in value to QR66.28mn but on 25% jump in deals to 4,104.