The Qatar Stock Exchange witnessed buying interests in four of the seven sectors, yet it closed negative this week, reflecting the weakened global oil benchmark.
The foreign and Gulf institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index fell more than 98 points or 0.72% this week which saw the listed companies report more than 41% year-on-year in net earnings to QR43.29bn during 2021.
The local retail investors were increasingly into net profit booking this week which saw Aamal Company find “significant” boost for the corporate sector from the 2022 FIFA World Cup.
The Gulf individuals were seen net profit takers this week which saw Qatar Electricity and Water Company’s subsidiary Nebras Power announce its 100% owned arm to build and operate a combined cycle gas thermal power plant in Uzbekistan.
More than 58% of the traded constituents were in the red this week which saw Capital Intelligence affirm QIIB’s rating at ‘A’ with stable outlook.
The Islamic index was seen declining faster than the other indices this week, which saw a total of 779,363 Doha Bank-sponsored exchange traded fund QETF valued at QR10.65mn change hands across 213 transactions.
The domestic institutions continued to be bearish but with lesser vigour this week which saw as many as 54,913 Masraf Al Rayan-sponsored QATR worth QR165,476 trade across 28 deals.
Market capitalisation was seen eroding more than QR9bn or 1.2% to QR760.83bn, mainly on mid and small cap segments this week, which saw the industrials and consumer goods sectors together constitute more than 60% of the trade volume.
The Total Return Index declined 0.72%, All Share Index by 0.55% and All Islamic Index by 1.48% this week which nevertheless saw total trading volumes and value on the decline.
The real estate sector index tanked 3.53%, industrials (3.13%) and telecom (2.25%); while consumer goods and services gained 1.86%, transport (1.78%), insurance (0.61%) and banks and financial services (0.28%) this week, which saw no trading of sovereign bonds and treasury bills.
Major losers in the main market included Aamal Company, Dlala, Ezdan, Doha Bank, Industries Qatar, Mesaieed Petrochemical Holding, Alijarah Holding, Inma Holding, Baladna, Qatar Industrial Manufacturing, Gulf International Services, Qamco, Barwa, Mazaya Qatar, Vodafone Qatar and Ooredoo. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value this week.
Nevertheless, Zad Holding, Mannai Corporation, Al Khaleej Takaful, Qatar Cinema and Film Distribution, QIIB, Salam International Investment, Medicare Group, Widam Food, Doha Insurance and Milaha were among the gainers in the main market this week.
In the main market, the industrials sector accounted for 33% of the total trade volume, consumer goods and services (28%), banks and financial services (17%), real estate (11%), transport (3%), and telecom and insurance (2% each) this week.
In terms of value, the banks and financial sector’s share was 41%, industrials (28%), consumer goods and services (16%), realty and transport (5% each), and telecom and insurance (2% each) this week.
Qatari individuals’ net selling increased markedly to QR162.43mn compared to QR135.2mn the week ended March 24.
The Gulf individuals turned net sellers to the tune of QR3.88mn against net buyers of QR4.16mn the previous week.
The foreign institutions’ net buying fell significantly to QR542.05mn compared to QR694.38mn a week ago.
The Gulf funds’ net buying fell drastically to QR121.3mn against QR301.32mn the week ended March 24.
The Arab individuals’ net buying weakened perceptibly to QR6.46mn compared to QR7.14mn the previous week.
The Arab institutions’ net profit booking grew marginally to QR0.17mn against QR0.08mn a week ago.
However, the foreign individuals were net buyers to the extent of QR15.36mn compared with net sellers of QR1.51mn the week ended March 24.
The domestic funds’ net selling shrank substantially to QR518.7mn against QR870.21mn the previous week.
Total trade volume in the main market fell less than 1% to 1.14bn shares, value by 7% to QR3.86bn and transactions by less than 1% to 92,308.
The banks and financial services sector’s trade volume plummeted 25% to 195.81mn equities, value by 15% to QR1.59bn and deals by 7% to 37,910.
The real estate sector reported 22% plunge in trade volume to 129.97mn stocks, 21% in value to QR194.63mn and 21% in transactions to 6,593.
The industrials sector’s trade volume tanked 19% to 380.32mn shares, value by 22% to QR1.09bn and deals by 14% to 22,348.
However, the market witnessed 67% surge in the insurance sector’s trade volume to 28.22mn equities, 55% in value to QR88.33mn and 81% in transactions to 2,920.
The telecom sector’s trade volume soared 64% to 23.17mn stocks, value by 63% to QR76.27mn and deals by 37% to 4,090.
There was 63% expansion in the consumer goods and services sector’s trade volume to 323.02mn shares, 49% in value to QR624.98mn and 22% in transactions to 11,718.
The transport sector’s trade volume zoomed 61% to 32.28mn equities and value more than doubled to QR193.94mn on 82% growth in deals to 6,079.
In the venture market, trade volumes almost tripled to 2.29mn stocks and value almost doubled to QR16.91mn on more than doubled transactions to 840.