Robust earnings of the listed companies in the first half and a lower than expected inflation in the US lifted sentiments in the Qatar Stock Exchange, which otherwise saw weakened trading volumes this week.
The foreign and Gulf funds were bullish as the 20-stock Qatar Index surged 2.75% and capitalisation expanded about QR19bn this week which saw Industries Qatar (IQ) report net profit of QR5.4bn in the first half (H1) of this year.
The banking and industrials counters witnessed higher than average demand this week which saw Gulf International Services (GIS) report H1 net profit at QR168mn.
More than 57% of the traded constituents extended gains to investors this week which saw Mesaieed Petrochemical Holding report net profit of QR1bn in H1, 2022.
The Arab individuals were also seen net buyers this week which saw Milaha report net profit of QR641mn in H1, 2022.
However, local retail investors were net sellers this week which saw a total of 0.08mn Masraf Al Rayan-sponsored exchange traded fund QATR worth QR0.22mn trade across 24 deals.
The Gulf individuals were also net sellers this week which saw as many as 1.07mn Doha Bank-sponsored QETF valued at QR14.19mn change hands across 327 transactions.
The overall trading turnover and volumes were on the decline in the main market this week, which saw the industrials and real estate sectors together constitute about 67% of the total trade volume.
Market capitalisation zoomed about QR19bn or 2.53% to QR762.07bn, mainly on large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.
The Total Return Index shot up 2.75%, All Share Index by 2.62% and All Islamic Index by 1.86% this week.
The banks and financial services sector index surged 3.64%, industrials (3%) and transport (2.3%); while telecom declined 3.61%, consumer goods and services (0.53%), realty (0.21%) and insurance (0.11%) this week.
Major gainers in the main market included GIS, Estithmar Holding, Milaha, Qamco, Commercial Bank, QNB, Qatar Islamic Bank, Qatar Industrial Manufacturing, Qatar National Cement, IQ, Ezdan and Gulf Warehousing.
In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their stocks appreciate in value.
Nevertheless, Qatar Cinema and Film Distribution, Dlala, Ooredoo, Qatar General Insurance and Reinsurance, Salam International Investment, Baladna, Qatari Investors Group and Aamal Company were among the losers in the main market.
In the main market, the industrials sector accounted for 50% of the total trade volume, realty (16%), consumer goods and services (15%), banks and financial services (14%), transport and telecom (2% each) and insurance (1%) this week.
In terms of value, the industrials sector’s share was 46%, banks and financial services (30%), consumer goods and services (10%), real estate (7%), transport (4%), telecom (2%) and insurance (1%) this week.
The foreign institutions were net buyers to the tune of QR134.4mn, while foreign individuals were net sellers to the extent of QR1.3mn this week.
The Gulf funds were net buyers to the tune of QR51.75mn; whereas the Gulf retail investors were net sellers to the extent of QR15.6mn this week.
The Arab individuals were net buyers to the tune of QR7.16mn, while the Arab institutions were net sellers to the extent of QR0.03mn this week.
In the case of local retail investors and domestic funds, both were net profit takers to the tune of QR148.82mn and QR27.56mn respectively this week.
Total trade volume in the main market fell 24% to 1.08mn shares, value by 18% to QR3.02bn and deals by 17% to 82,746.
The venture market’s trade volume stood at 1.05mn stocks, value at QR5.35mn and transactions at 298.