The global concerns such as rising inflation and hardening interest rates had an overarching role in dampening the sentiments in the Qatar Stock Exchange, which saw its main barometer plunge 413 points and capitalisation erode QR27bn this week.
The domestic funds were seen hurriedly squaring off their position as the 20-stock Qatar Index tanked 3.14% this week which saw Qatar’s retail inflation, based on consumer price index, firm up in the beginning of the second quarter of this year.
The banking counter witnessed higher than average selling pressure this week which saw the country’s first phase of health insurance cover includes non-Qatari workers in public, private sectors and visitors.
More than 57% of the traded constituents in the main market were in the red this week which saw Gulf Warehousing Company incorporate Flag Logistics in Saudi Arabia.
The Islamic benchmark was seen declining slower than the other indices this week which saw Qatar report a steady increase (on an annualised basis) in the building permits issued in April 2022.
The foreign institutions’ net buying was seen markedly this week which saw Qatar’s import unit value index jump 0.74% year-on-year in the first quarter of this year.
The foreign individuals were seen net profit takers this week which saw a total of 0.6mn Doha Bank-sponsored exchange traded fund QETF valued at QR7.65mn change hands across 148 transactions.
The overall trading and turnover in the main market were on the decline this week, which saw as many as 0.06mn Masraf Al Rayan-sponsored QATR worth QR0.16mn trade across 19 deals.
The venture market nevertheless witnessed heightened trading this week which however saw five of the seven sectors under buying spotlight.
Market capitalisation was seen eroding more than QR27bn or 3.69% to QR715.73bn, mainly on large and midcap segments this week, which saw the banks, industrials and consumer goods sectors together constitute about 84% of the trade volume.
The Total Return Index tanked 3.14%, All Share Index by 3.65% and All Islamic Index by 1.45% this week which saw no trading of sovereign bonds.
The banks and financial services sector index plummeted 7.14% and real estate 1.1%: whereas insurance gained 3.47%, consumer goods (2.02%), industrials (1%), telecom (0.26%) and transport (0.01%) this week which saw no trading of treasury bills.
Major losers in the main market included Masraf Al Rayan, QNB, Qatari German Medical Devices, Gulf International Services, Commercial Bank, Qatar Islamic Bank, Dlala, Aamal Company, United Development Company, Mazaya Qatar, Barwa, Gulf Warehousing and Nakilat. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value this week.
Nevertheless, Qatar General Insurance and Reinsurance, Woqod, Qatar Insurance, Qatar Electricity and Water, Salam International Investment, Inma Holding, Industries Qatar, Mesaieed Petrochemical Holding, Doha Insurance, Al Khaleej Takaful, QLM and Milaha were among the gainers in the main market this week.
In the main market, the banks and financial services sector accounted for 30% of the total trade volume, industrials (28%), consumer goods and services (25%), real estate (8%), and insurance, telecom and transport (3% each) this week.
In terms of value, the banks and financial sector’s share was 58%, industrials (22%), consumer goods and services (10%), telecom and transport (3% each), realty and insurance (2% each) this week.
The domestic funds’ net selling increased considerably to QR525.94mn against QR467.11mn the week ended May 12.
The Gulf funds’ net selling grew significantly to QR74.48mn compared to QR41.03mn the previous week.
The foreign individuals were net sellers to the tune of QR4.02mn against net buyers of QR16.86mn a week ago.
The Gulf individuals turned net sellers to the extent of QR2.66mn compared with net buyers of QR1.96mn the week ended May 12.
The foreign funds’ net buying declined markedly to QR590.31mn against QR615.51mn the previous week.
The Arab individuals’ net buying shrank perceptibly to QR0.46mn compared to QR3.87mn a week ago.
However, Qatari individuals were net buyers to the tune of QR16.43mn against net sellers of QR113.14mn the week ended May 12.
The Arab funds’ net profit booking weakened significantly to QR0.09mn compared to QR16.92mn the previous week.
Total trade volume in the main market fell 18% to 941.07mn shares and value by 8% to QR4.04bn, while transactions rose 3% to 122,432.
There was a 40% plunge in the real estate sector’s trade volume to 73.07mn equities, 36% in value to QR96.61mn and 19% in deals to 3,628.
The industrials sector’s trade volume plummeted 32% to 267.49mn stocks, value by 31% to QR878.51mn and transactions by 17% to 22,859.
The market witnessed 29% shrinkage in the consumer goods and services sector’s trade volume to 235.81mn shares and 29% in value to QR421.2mn but on 7% jump in deals to 10,408.
The insurance sector’s trade volume tanked 22% to 26.81mn equities and value by 17% to QR74.78mn, while transactions zoomed 15% to 2,240.
However, the market witnessed 52% surge in the transport sector’s trade volume to 26.89mn stocks, 40% in value to QR106.52mn and 82% in deals to 4,334.
The banks and financial services sector’s trade volume soared 27% to 286.4mn shares, value by 13% to QR2.36bn and transactions by 9% to 73,211.
The telecom sector reported 18% expansion in trade volume to 24.59mn equities, 12% in value to QR105.05mn and 17% in deals to 5,752.
In the venture market, trade volumes more than doubled to 1.39mn stocks and value more than doubled to QR9.08mn on more than doubled transactions to 572.