The Qatar Stock Exchange largely remained under bullish spell, leading the index once to surpass the 11,600 levels, as foreign institutions were increasingly net buyers this week.
The insurance, transport and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.44% this week which saw Masraf Al Rayan shareholders approve the merging of Al Khaliji with it.
The Gulf funds were increasingly bullish this week, which saw Qatar’s ports witness robust expansion year-on-year in September in cargoes, containers and building materials.
The Arab individuals were also increasingly net buyers this week which saw moves to make real estate investment trusts a reality in the country with the Ministry of Justice opening a real estate registration and authorisation office in the Qatar Financial Centre.
More than 60% of the traded constituents in the main market extended gains this week which saw Qatar automobiles sector robust demand generation, especially in the new vehicles segment, this August.
The Arab funds were seen net buyers this week which saw Qatar German Medical Devices (QGMD) equities touch 52-week high.
The foreign individuals’ weakened net selling pressure also had its role in the market this week which saw a total of 156,566 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR406,189 change hands across 43 transactions.
The Islamic index was seen gaining faster than the main barometer this week which saw a total of 84,967 Doha Bank-sponsored QETF valued at QR952,870 trade across 17 deals.
Market capitalisation saw about QR5bn or 0.73% increase to QR666.08bn, mainly on small and microcap segments this week which saw the industrials and banking sectors together constitute more than 56% of the total trade volume.
The Total Return Index gained 0.44%, All Share Index by 0.72% and All Islamic Index by 0.53% this week which saw no trading of sovereign bonds.
The insurance index surged 2.45%, transport (1.59%), banks and financial services (0.87%), industrials (0.24%), consumer goods and services (0.14%), realty (0.12%) and telecom (0.02%) this week which saw no trading of treasury bills.
Major gainers in the main market included QGMD, Mannai Corporation, Mazaya Qatar, Alijarah Holding, Qatar Insurance, QNB, Doha Bank, Masraf Al Rayan, Al Khaliji, Qatar First Bank, Qatar National Cement, Gulf International Services, Qatar General Insurance and Reinsurance, Ezdan, Vodafone Qatar, Milaha and Nakilat this week. In the venture market, it was Al Faleh Educational Holding and Mekdam Holding.
Nevertheless, Ahlibank Qatar, Ooredoo, Qatar Islamic Insurance, QIIB, United Development Company, Commercial Bank and Qatar Electricity and Water were among the losers this week which saw the overall trade turnover decline amidst higher volumes in the main market, while the junior bourse saw lower volumes amidst higher value.
In the main market, the industrials sector accounted for 35% of the total trade volume, banks and financial services (21%), real estate (17%), consumer goods and services (15%), telecom (5%), transport (4%) and insurance (2%) this week.
In terms of value, the banks and financial services sector’s share was 33%, industrials (32%), consumer goods and services (12%), realty (9%), transport (7%), telecom (4%) and insurance (3%) this week.
The foreign funds’ net buying grew significantly to QR290.13mn against QR196.33mn the week ended September 30.
The Gulf institutions’ net buying increased markedly to QR33.66mn compared to QR30.62mn the previous week.
The Arab individuals’ net buying strengthened perceptibly to QR8mn against QR7.07mn a week ago.
The Arab funds were net buyers to the tune of QR0.58mn compared with no major net exposure the week ended September 30.
The domestic funds’ net selling declined markedly to QR144.56mn against QR173.43mn the previous week.
The foreign individuals’ net profit booking fell marginally to QR2.39mn compared to QR2.55mn a week ago.
However, Qatar individuals’ net selling expanded drastically to QR181.89mn against QR56.73mn the week ended September 30.
The Gulf individuals’ net profit booking increased noticeably to QR3.58mn compared to QR1.32mn the previous week.
Total trade volume in the main market grew 5% to 949.28mn shares, while value fell 5% to QR2.44bn and transactions by 10% to 49,017.
In the venture market, volumes shrank 14% to 0.4mn equities, whereas value shot up 89% to QR2.2bn and deals by 18% to 97.
In the main market, the real estate sector’s trade volume more than doubled to 165.18mn stocks and value also more than doubled to QR230.2mn on 36% increase in transactions to 5,288.
There was 19% surge in the insurance sector’s trade volume to 23.2mn shares and 30% in value to QR66.3mn but on 10% fall in deals to 900.
The banks and financial services sector’s trade volume shot up 19% to 199.73mn equities, while value declined 6% to QR808.5mn and transactions by 1% to 17,408.
The consumer goods and services sector saw 9% expansion in trade volume to 142.13mn stocks and 20% in value to QR293.9mn but on 2% contraction in deals to 5,462.
The transport sector’s trade volume was up 2% to 42.03mn shares, whereas value eroded 8% to QR163.44mn transactions by 3% to 3,019.
However, the industrials sector’s trade volume plummeted 23% to 334.03mn shares, value by 20% to QR783.14mn and deals by 22% to 13,913.
The market witnessed 16% plunge in the telecom sector’s trade volume to 42.98mn equities, 40% in value to QR98.86mn and 44% in transactions to 3,027.