* Cabinet nod to allow up to 100% foreign ownership lifts QSE sentiments
The Cabinet decision to allow up to 100% foreign ownership in the listed companies had profound impact in the Qatar Stock Exchange (QSE), which saw its key index gain 538 points and capitalisation add QR24bn this week.
The industrials, consumer goods, real estate and transport counters witnessed higher than average demand as the 20-stock Qatar Index zoomed 3.73% this week, which saw Estithmar Holding establish Lusail Winter Wonderland.
More than 91% of the traded constituents extended gains to investors this week which saw Mannai Infotech and Liferay partner to offer full-scale digital experience in the country.
Foreign institutions continued to be net buyers but with lesser intensity this week which saw Qatar's industrial production index jump 6.7% year-on-year in April 2022.
The local retail investors were also seen bullish but with lesser vigour this week which saw an Oxford Economics report forecast that Qatar is slated to see sustained upward pressure on rentals in the coming months owing to FIFA World Cup.
The domestic institutions’ weakened net selling had its influence in the market this week which saw Qatar' trade surplus grew more than 120% year-on-year to QR36.6bn in May 2022.
Similarly, the Gulf institutions’ net selling pressure also weakened this week which saw Qatar's producers’ price index surge 70.8% year-on-year in May 2022.
The Gulf retail investors were seen net profit takers this week which saw a total of 0.12mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.32mn trade across 37 deals.
The Arab individuals continued to be net buyers but with lesser intensity this week which saw as many as 0.05mn Doha Bank-sponsored QETF valued at QR0.63mn change hands across 17 transactions.
The overall trading turnover and volumes were on the decline in the main market this week, which saw the industrials, consumer goods and banking sectors together constitute about 83% of the total trade volume.
Market capitalisation gained more than QR24bn or 3.68% to QR684.02bn, mainly on large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.
The Total Return Index soared 3.73%, All Share Index by 3.43% and All Islamic Index by 4.36% this week.
The industrials sector zoomed 8.01%, consumer goods and services (5.12%), real estate (4.33%), transport (4.13%), telecom (2.46%), banks and financial services (1.61%) and insurance (0.18%) this week.
Major gainers in the main market included Salam International Investment, Baladna, Qamco, Gulf International Services, Aamal Company, Commercial Bank, QNB, QIIB, Qatar First Bank, Masraf Al Rayan, Dlala, Qatar Oman Investment, Inma Holding, Qatar National Cement, Industries Qatar, Woqod, Qatar Electricity and Water, Qatar Industrial Manufacturing, Mazaya Qatar, Ezdan, Barwa, Vodafone Qatar, Ooredoo, Milaha and Nakilat. In the venture market, Al Faleh Educational Holding saw its depreciate in value.
Nevertheless, Qatar General Insurance and Reinsurance, Doha Bank, QLM and Doha Insurance notably saw their shares increase in value. In the junior bourse, Mekdam Holding saw its shares appreciate in value.
In the main market, the industrials sector accounted for 42% of the total trade volume, consumer goods and services (21%), banks and financial services (20%), real estate (12%), transport (3%), telecom (2%) and insurance (1%) this week.
In terms of value, the banks and financial sector’s share was 45%, industrials (32%), consumer goods and services (11%), realty (5%), transport (4%), telecom (3%) and insurance (1%) this week.
The domestic funds’ net selling declined substantially to QR274.85mn compared to QR405.52mn the week ended June 23.
The Gulf institutions’ net profit booking shrank markedly to QR6.67mn against QR31.83mn the previous week.
However, the Gulf individuals were net sellers to the tune of QR13.25mn compared with net buyers of QR4.59mn a week ago.
Qatari individuals’ net buying weakened drastically to QR49.53mn against QR148.52mn the week ended June 23.
The foreign funds’ net buying shrank noticeably to QR237.61mn compared to QR267.55mn the previous week.
The Arab individuals’ net buying declined perceptibly to QR2.49mn against QR2.97mn a week ago.
The foreign individuals’ net buying sunk notably to QR2.14mn compared to QR9.29mn the week ended June 23.
The Arab institutions’ net buying eased marginally to QR3mn against QR4.45mn the previous week.
Total trade volume in the main market fell 11% to 873.2mn shares, value by 13% to QR2.71bn and transactions by 5% to 76,428.
The telecom sector’s trade volume plummeted 42% to 15.19mn equities and value by 5% to QR68.71mn, whereas deals rose 12% to 3,181.
The banks and financial services sector reported 24% plunge in trade volume to 177.68mn stocks, 10% in value to QR1.22bn and 2% in transactions to 36,403.
The insurance sector’s trade volume tanked 22% to 6.41mn shares, value by 29% to QR19.4mn and deals by 26% to 659.
The market witnessed 18% shrinkage in the industrials sector’s trade volume to 363.34mn equities, 24% in value to QR872.58mn 22% in transactions to 19,155.
The transport sector’s trade volume shrank 4% to 26.23mn stocks and value by 8% to QR118.7mn, while deals expanded 11% to 5,171.
There was a 2% contraction in the real estate sector’s trade volume to 100.77mn shares and 2% in value to QR125.69mn but on 14% growth in transactions to 4,449.
However, the consumer goods and services sector’s trade volume soared 31% to 183.57mn equities, value by 9% to QR286.8mn and deals by 5% to 7,410.
The venture market saw 3.03% jump in trade volumes to 2.04mn stocks but on 2.04% fall in value to QR12.46mn amidst 8.77% higher transactions at 744.