Skyrocketing oil prices, on account of the simmering Russia-Ukraine crisis, had its reflections across the Gulf bourses, including in the Qatar Stock Exchange, which gained a huge 824 points in key index and QR53bn in capitalisation.
Foreign institutions were seen increasingly into net buying as the 20-stock Qatar Index soared as much as 6.52% this week, which saw the global oil prices hover around $120 a barrel.
The banking and industrials counters witnessed higher than average demand this week which saw the market heavyweight Industries Qatar earmark QR11.1bn planned capital expenditure for the next five years.
The Gulf institutions turned extremely bullish this week which saw Qamco focus on its five-year strategic plan to strengthen its aluminium joint venture’s market position.
About 66% of the traded constituents extended gains in the market this week which saw the purchasing managers’ index point out Qatar’s non-energy growth to regain momentum this February.
The weakened net selling pressure from the Arab individuals also had its role in the market this week which saw Qatar Insurance report net profit of QR615.88mn in 2021.
The foreign individuals were seen net buyers this week which saw Doha Bank-sponsored exchange traded fund, QETF, report net asset value of QR461.47mn in 2021.
The Islamic index was seen gaining slower than the other indices this week, which saw Al Khaleej Takaful report net profit of QR40.13mn in 2021.
Nevertheless, the domestic funds were seen increasingly into net selling this week which saw a total of 452,650 QETF valued at QR5.75mn change hands across 73 transactions.
The Arab institutions turned net profit takers in the market this week, which saw as many as 138,158 Masraf Al Rayan-sponsored QATR worth QR394,388 trade across 36 deals.
Market capitalisation saw 7.48% surge to QR768.58bn, mainly on large and midcap segments this week, which saw the industrials and consumer goods sectors together constitute about 63% of the total trade volume.
The Total Return Index shot up 7.03%, All Share Index by 7.12% and All Islamic Index by 4.34% this week which saw Qatar Electricity and Water Company subsidiary Nebras Power acquired 24% stake in Bangladesh’s Meghnaghat Power project.
The banks and financial services sector index zoomed 8.79%, industrials (8.4%), transport (4.83%), real estate (2.49%), telecom (1.13%), insurance (0.98%) and consumer goods and services (0.54%) this week which saw no trading of treasury bills.
Major gainers in the main market included Investment Holding Group, QNB, Ezdan, Mesaieed Petrochemical Holding, Qamco, Qatar Islamic Bank, Industries Qatar, Commercial Bank, QIIB, Gulf International Services, Qamco, Qatar Insurance, Milaha and Nakilat; while in the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value this week which saw no trading sovereign bonds.
Nevertheless, Qatar Cinema and Film Distribution, Qatar National Cement, Ahlibank Qatar, Woqod, Doha Insurance, Dlala, Medicare Group, Qatar General Insurance and Reinsurance and Vodafone Qatar were among the losers in the main market this week which saw which saw the overall trade volume and value on the increase.
In the main market, the industrials sector accounted for 38% of the total trade volume, consumer goods and services (24%), banks and financial services (18%), real estate (11%), telecom and transport (3% each), and insurance (2%) this week.
In terms of value, the banks and financial services sector’s share was 40%, industrials (37%), consumer goods and services (10%), realty (5%), transport (4%), telecom (3%) and insurance (1%) this week.
The foreign funds’ net buying strengthened substantially to QR1.4bn compared to QR374.14mn the week ended February 24.
The Gulf institutions turned net buyers to the tune of QR317.55mn against net sellers of QR12.95mn the previous week.
The foreign individuals were net buyers to the extent of QR13.77mn compared with net sellers of QR19.16mn a week ago.
The Arab individuals’ net profit booking shrank markedly to QR3.47mn against QR35.14mn the week ended February 24.
However, the domestic funds’ net selling increased significantly to QR1.09bn compared to QR91.42mn the previous week.
Qatari individuals’ net profit booking rose considerably to QR607.87mn against QR225.05mn a week ago.
The Gulf individuals turned net sellers to the tune of QR16.77mn compared with net buyers of QR2.03mn the week ended February 24.
The Arab funds were net profit takers to the extent of QR8.35mn against net buyers of QR7.55mn the previous week.
Total trade volume in the main market rose 75% to 1.94bn shares and value more than doubled to QR6.98bn on 73% increase in transactions to 114,567.
The transport sector’s trade volume almost tripled to 64mn equities and value more than tripled to QR262.81mn on more than doubled deals to 6,016.
The telecom sector’s trade volume more than doubled to 57.83mn stocks and value also more than doubled to QR222.01mn on 61% growth in transactions to 6,431.
The real estate sector’s trade volume more than doubled to 221.85mn shares and value also more than doubled to QR331.58mn on 47% jump in deals to 6,380.
The banks and financial services sector’s trade volume more than doubled to 345.65mn equities and value also more than doubled to QR2.8bn on 88% surge in transactions to 46,705.
The market witnessed 77% expansion in the consumer goods and services sector’s trade volume to 474.18mn stocks, 80% in value to QR723.72mn and 54% in deals to 11,452.
The industrials sector’s trade volume soared 49% to 747.63mn shares and value almost doubled to QR2.56bn on 65% hike in transactions to 35,538.
There was 35% increase in the insurance sector’s trade volume to 29.07mn equities, 21% in value to QR79.93mn and 47% jump in deals to 2,135.
The venture market’s trade volumes plummeted 47.7% to 3.52mn stocks, value by 48.33% to QR33.93mn and transactions by 65.67% to 919.
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