The foreign funds’ sustained buying interests lifted the Qatar Stock Exchange this week, which saw the bourse outline its efforts to advance environment, social and governance agenda to better attract global investors.
Backed by strong buying in the industrials counters, the 20-stock Qatar Index settled 0.73% higher this week which saw QNB Financial Services start market making for the Masraf Al Rayan sponsored exchange traded fund QATR.
The Gulf funds and foreign individuals turned bullish this week which saw Qatar’s consumer price index inflation shoot up 2.95% year-on-year in August.
The weakened net selling pressure from local and Arab retail investors also had its influence in the market this week which saw report that Islamic banks’ domestic credit grow faster than that of the conventional lenders in August this year.
Nevertheless, losers outnumbered gainers by a wafer thin margin this week which saw a total of 162,396 QATR valued at QR406,572 change hands across 35 deals.
The Islamic index was seen gaining faster than the conventional indices this week which saw a total of 26,564 Doha Bank-sponsored QETF valued at QR287,679 trade across nine transactions.
Market capitalisation saw about QR7bn or 1.04% jump to QR646.08bn, mainly on large and midcap segments this week which saw the industrials, consumer goods and services and banking sectors together constitute more than 84% of the total trade volume.
The Total Return Index rose 0.73%, All Share Index by 0.65% and All Islamic Index by 0.78% this week which saw no trading of sovereign bonds.
The industrials sector index shot up 2.99%, realty (0.23%), banks and financial services (0.22%) and consumer goods and services (0.08%); while insurance declined 1.24%, telecom (0.89%) and transport (0.49%) this week which saw no trading of treasury bills.
Major movers included Industries Qatar, QNB, Mesaieed Petrochemical Holding, Investment Holding Group, Qamco, Gulf International Services, Baladna, Ezdan, Ahlibank Qatar, Qatari German Medical Devices, Qatari Investors Group, Barwaq and Nakilat this week which saw the overall trade turnover and volumes on the increase.
Nevertheless, Qatari General Insurance and Reinsurance, Vodafone Qatar, Milaha, Doha Bank, Medicare Group, Masraf Al Rayan, Qatar First Bank, Qatar National Cement, Qatar Electricity and Water and Al Khaleej Takaful were among the losers this week which saw Wasata Financial Services, a fully-owned brokerage of Investment Holding Group’s pact for liquidity provision for Mekdam Holding Company in the venture market.
The industrials sector accounted for 52% of the total trade volume, consumer goods and services (17%), banks and financial services (16%), real estate (10%), transport (3%), telecom (2%) and insurance (1%) this week.
In terms of value, the industrials sector’s share stood at 45%, banks and financial services (29%), consumer goods and services (12%), realty (6%), transport (4%), telecom (3%) and insurance (1%) this week.
The foreign funds’ net buying increased significantly to QR188.96mn compared to QR151.22mn the week ended September 9.
The Gulf institutions turned net buyers to the tune of QR5.92mn against net sellers of QR6.75mn the previous week.
The foreign individuals were net buyers to the extent of QR4.12mn compared with net sellers of QR5.72mn a week ago.
Local retail investors’ net selling fell significantly to QR0.55mn against QR24.98mn the week ended September 9.
The Arab individuals’ net profit booking shrank noticeably to QR5.22mn compared to QR14.85mn the previous week.
The Gulf individuals’ net selling weakened perceptibly to QR2.16mn against QR2.31mn a week ago.
The Arab funds’ net profit booking eased to QR0.01mn compared to QR0.22mn the week ended September 9.
However, the domestic funds’ net selling strengthened drastically to QR191.08mn against QR96.4mn the previous week.
Total trade volume rose 40% to 1.11bn shares, value by 60% to QR2.75bn and transactions by 28% to 54,279.
The real estate sector’s trade volume almost doubled to 111.56mn equities and value more than doubled to QR176.75mn on 61% increase in deals to 5,618.
The transport sector’s trade volume soared 80% to 28.18mn stocks, value by 78% to QR99.91mn and transactions by 37% to 2,622.
There was 61% surge in the insurance sector’s trade volume to 12.02mn shares, 49% in value to QR34.2mn and 29% in deals to 773.
The industrials sector’s trade volume zoomed 57% to 572.42mn equities and value more than doubled to QR1.24bn on 58% increase in transactions to 19,547.
The telecom sector saw 47% expansion in trade volume to 21.71mn stocks and 4% in value to QR68.64mn but on 27% contraction in deals to 3,014.
The banks and financial services sector’s trade volume shot up 14% to 177.44mn shares, value by 27% to QR805.09mn and transactions by 15% to 16,207.
The market witnessed 8% jump in the consumer goods and services sector’s trade volume to 195.12mn equities, 23% in value to QR328.61mn and 12% in deals to 6,498.