Non-Qatari individuals were bullish as the main barometer rose 0.22% this week which saw the listed companies better their position in net earnings during January-September this year, notwithstanding the economic blockade imposed by some Gulf neighbours.
The weakened net selling pressure from domestic funds also helped the market this week which saw International Monetary Fund view that Qatar’s economy and financial markets are “adjusting to the impact” of the Gulf diplomatic rift after the initial shock.
However, there was increased net selling from local retail investors and lower buying interests of foreign institutions this week which saw Standard and Poor’s, a global credit rating agency, say the Gulf-based banks’ capitalisation is expected to remain “stable” over the next two years and their capital quality remains strong.
Islamic stocks were seen gaining faster than the main index this week which saw a total of 2,000 sovereign bonds worth QR198.88mn change hands across two transactions.
The market was skewed towards decliners this week which witnessed banking, industrials and real estate counters together account for more than 76% of total trading volume.
The banks and financial services sector accounted for 36% of the total volume, industrials (23%), realty (17%), telecom (8%), transport (7%), insurance (6%) and consumer goods (4%) this week.
The banks and financial services’ share in total trade turnover was 44%, industrials (16%), transport (11%), real estate (10%), consumer goods (8%), telecom (6%) and insurance (4%) this week.
Major gainers included Ezdan, Ooredoo, Qatar Insurance, Qatar National Cement, Qatari Investors Group, Industries Qatar, Aamal Company, Mesaieed Petrochemical Holding, QIIB and Alijarah Holding this week.
Nevertheless, QNB, Qatar First Bank, Al Khaliji, Dlala, Islamic Holding Group, Salam International Investment, Woqod, Gulf International Services and Milaha were among the losers this week.
Non-Qatari individual investors turned net buyers to the tune of QR10.53mn compared with net sellers of QR3.05mn a week ago.
Domestic funds’ net selling weakened considerably to QR33.85mn against QR84.87mn the week ended October 26.
Local retail investors’ net profit booking increased to QR33.23mn compared to QR26.69mn the previous week.
Non-Qatari funds’ net buying fell substantially to QR56.55mn against QR114.61mn the week ended October 26.
Total trade volume fell 17% to 30.76mn shares and value by 10% to QR687.95mn, while deals rose 12% to 10,995.
The market witnessed 44% plunge in the telecom sector’s trade volume to 2.45mn equities and 36% in value to QR44.27mn but on 9% jump in transactions to 1,103.
The banks and financial services sector’s trade volume plummeted 39% to 11.12mn stocks and value by 10% to QR305.6mn, while deals grew 16% to 3,999.
There was 14% shrinkage in the real estate sector’s trade volume to 5.17mn shares, 19% in value to QR66.78mn and 2% in transactions to 1,674.
However, the transport sector’s trade volume more than doubled to 2.01mn equities and value more than tripled to QR76.92mn on 38% increase in deals to 929.
The insurance sector’s trade volume more than doubled to 1.74mn stocks but value shrank 18% to QR27.96mn despite 19% higher transactions to 349.
The consumer goods sector reported 54% surge in trade volume to 1.14mn shares, 23% in value to QR56.86mn and 56% in deals to 842.
The industrials sector’s trade volume shot up 17% to 7.13mn equities, whereas value declined 35% to QR109.55mn and transactions by 3% to 2,059.
