Strengthening global oil prices, which hit a seven-year high due to geopolitical tensions, had its reflection in the Qatar Stock Exchange, whose key barometer had once crossed the 12,600 levels this week.
The Gulf institutions were seen increasingly into net buying as the 20-stock Qatar Index added about 194 points or 1.57% this week which saw Qatar Islamic Bank report a net profit of QR3.56bn in 2021.
The transport, real estate, industrials and banking counters witnessed higher than average demand this week which saw Commercial Bank register QR2.3bn net profit in 2021.
About 66% of the traded constituents extended gains in the main market this week which saw Woqod record net profit of QR974mn in 2021.
The Arab individuals were seen bullish this week which saw a Qatar Economic Outlook report expect Qatar to retain its position as preeminent and largest exporter of liquefied natural gas by 2026.
The domestic institutions’ substantially weakened net selling pressure also had its influence in the bourse this week which saw Mannai Corporation enter into an exclusive negotiations with a group of investors, led by Bains Capital Private Equity, to offload its entire stake in French IT services firm Inetum.
The Islamic equities were seen gaining slower than the other indices this week which saw Qatar’s industrial production index expand 1.8% year-on-year in November.
Both foreign and Gulf individuals continued to be net buyers but with lesser vigour this week which saw a total of 291,021 Doha Bank-sponsored exchange traded funds QETF valued at QR3.52mn change hands across 50 transactions.
Six of the seven sectors were under buying spotlight this week which saw as many as 54,189 Masraf Al Rayan-sponsored QATR worth QR147,729mn trade across 24 deals.
Market capitalisation expanded more than QR16bn or 2.3% to QR716.4bn, mainly on large and midcap segments this week which saw the industrials, banking and realty sectors together constitute more than three-fourth of the total trade volume.
The transport sector index soared 2.87%, real estate (2.68%), industrials (1.95%), banks and financial services (1.75%), consumer goods and services (1.2%) and telecom (0.87%); while insurance fell 0.43% this week which saw no trading of sovereign bonds.
Major gainers in the main market included Mannai Corporation, Ezdan, Qatar Islamic Insurance, QNB, Nakilat, Ahlibank Qatar, Masraf Al Rayan, Dlala, Salam International Investment, Woqod, Qatar Industrial Manufacturing, Industries Qatar, Qamco, Qatar Electricity and Water, Barwa and Gulf Warehousing.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their scrips appreciate in value this week which saw no trading of treasury bills.
Nevertheless major losers in the main market included Qatar General Insurance and Reinsurance, Al Khaleej Takaful, Mesaieed Petrochemical Holding, QLM and Commercial Bank this week which saw a Qatar Financial Centre economist opine that Doha should capitalise on factoring to “unlock the full potential” of trade finance.
The Gulf institutions’ net buying grew markedly to QR93.42mn compared to QR38.63mn the week ended January 13.
The Arab individuals turned net buyers to the tune of QR14.47mn against net sellers of QR1.46mn the previous week.
The domestic funds’ net selling declined drastically to QR64.29mn compared to QR473.65mn a week ago.
However, Qatari individuals’ net selling jumped notably to QR402.47mn against QR331.37mn the week ended January 13.
The foreign funds’ net buying shrank substantially to QR353.09mn compared to QR759.7mn the previous week.
The foreign individuals’ net buying declined perceptibly to QR4.24mn against QR6.46mn a week ago.
The Gulf individuals’ net buying eased marginally to QR1.53mn compared to QR1.67mn the week ended January 13.
The Arab institutions had no major next exposure.
Total trade turnover and volume were on the increase in the main market this week, which saw a declining trend in the value and volumes in the venture market.
The banks and financial services sector accounted for 27% of the total trade volume, followed by industrials (25%), real estate (24%), consumer goods and services (14%), transport and telecom (4% each), and insurance (2%) this week.
In terms of value, the banks and financial services sector’s share was 48% of the total, industrials (22%), realty (10%), consumer goods and services (8%), transport (6%), telecom (5%) and insurance (2%) this week.
Total trade volume in the market rose 8% to 951.75mn shares, value by 15% to QR3.32mn and transactions by 18% to 66,807.
The real estate sector’s trade volume soared 78% to 227.88mn equities, value by 75% to QR334.52mn and deals by 22% to 6,731.
The telecom sector’s trade volume shot up 48% to 35.28mn stocks and value more than doubled to QR149.28mn on a 58% increase in transactions to 3,494.
There was an 18% surge in the insurance sector’s trade volume to 22.93mn shares but a 14% decline in value to QR62.61mn amidst 79% higher deals at 1,686.
The banks and financial sector’s trade volume zoomed 17% to 253.51mn equities, value by 12% to QR1.58bn and transactions by 21% to 30,384.
The market witnessed a 12% expansion in the transport sector’s trade volume to 39.96mn stocks, 11% in value to QR197.69mn and 37% in deals to 3,019.
However, the industrials sector’s trade volume tanked 19% to 236.71mn shares and value by 1% to QR729.03mn; while transactions were up 2% to 15,124.
The consumer goods and services sector saw a 16% contraction in trade volume to 135.48mn equities but a 15% jump in value to QR259.05mn and 15% in deals to 6,369.
In the venture market, trade volume tanked 27.24% to 0.96mn stocks, value by 31.46% to QR5.99mn and transactions by 13.27% to 562.