The Qatar Stock Exchange settled below 8,600 levels as domestic institutions turned profit takers this week which saw improved earnings performance of banking and industry help the listed companies’ 2017 net profitability expand more than 1%.
Insurance, real estate, transport and banking counters witnessed stronger selling pressure this week which witnessed Capital Intelligence, the international credit rating agency, affirm Doha Bank's financial strength rating at ‘A’ with a "stable" outlook.
Foreign institutions’ weakened net buying interests also played its part in the bearish market this week which saw Qatar’s February 2018 trade surplus at QR14.05bn mainly on higher shipments to South Korea, Japan and India, which together accounted for more than 53% of exports.
Notwithstanding, the bullish outlook of local and non-Qatari retail investors, the 20-stock Qatar Index shrank 2.85% this week which saw Al Meera Consumer Goods Company all set to open nine more outlets this year with one dedicating half of its store space for organic products.
Islamic stocks were seen declining faster than the other constituents this week which saw Woqod’s intent to invest around QR634mn this year for its expansion as part of initiatives to cater to the local market.
Profit booking was squarely visible within micro, large and midcap segments this week which saw a total of 0.48mn QATR valued at QR11.18mn change hands across 294 deals.
The Total Return Index shed 2.56%, All Share Index by 2.97% and Al Rayan Islamic Index by 2.91% and Al Rayan Islamic Index (Price) by 3.81% this week which saw a total of 0.06mn QETFs valued at QR5.65mn trade across 110 transactions.
The insurance index plummeted 6.58%, realty (4.1%), transport (3.62%), banks and financial services (3.08%), industrials (2.46%) and telecom (0.45%); while consumer goods gained 0.5% this week which saw no trading in the debt segment.
More than 82% of the traded stocks were in the red with major losers being Qatar Insurance, Industries Qatar, Gulf International Services, Mazaya Qatar, Ezdan, QIIB, Qatar Islamic Insurance, Qatar First Bank, Milaha, Woqod, Ooredoo, Nakilat; whereas Ahlibank, Vodafone Qatar, Zad Holding and Qatari Investors Group were among the gainers this week which saw banking, industrials and real estate sectors accounted for about 81% of total trade volumes.
The banks and financial services sector accounted for 44% of the total volume, industrials (20%), realty (17%), telecom (8%), insurance (5%), consumer goods (4%) and transport (3%) this week.
The banks and financial services’ share in total trade turnover was 42%, industrials (25%), consumer goods and real estate (9% each), insurance (7%), telecom (6%) and transport (3%) this week.
Domestic institutions’ net selling strengthened significantly to QR109.22mn against QR4.3mn the week ended March 22.
Non-Qatari funds’ net buying weakened considerably to QR65.57mn compared to QR110.63mn a week ago.
However, local retail investors turned net buyers to the tune of QR26.87mn against net sellers of QR59.53mn the previous week.
Non-Qatari individuals were also net buyers to the extent of QR16.78mn compared with net sellers of QR46.63mn a week ago.
Total trade volume shrank 44% to 43.14mn shares, value by 38% to QR1.03bn and transactions by 31% to 16,924.
The market witnessed 77% plunge in the telecom sector’s trade volume to 3.48mn equities, 64% in value to QR57.26mn and 54% in deals to 1,268.
The transport sector’s trade volume tanked 69% to 1.21mn equities, value by 71% to QR28.17mn and transactions by 55% to 899.
The insurance sector reported 69% shrinkage in trade volume to 2.07mn shares, 73% in value to QR66.91mn and 58% in deals to 890.
The industrials sector’s trade volume declined 49% to 8.49mn equities, value by 22% to QR252.65mn and transactions by 38% to 3,057.
There was 26% slump in the real estate sector’s trade volume to 7.19mn stocks, 31% in value to QR93.57mn and 16% in deals to 3,033.
The banks and financial services sector’s trade volume shrank 17% to 19.08mn shares, value by 26% to QR433.32mn and transactions by 19% to 6,064.
The consumer goods sector saw 16% slippage in trade volume to 1.62mn equities and 6% in value to QR97.49mn but on 2% jump in deals to 1,713.
Foreign institutions’ weakened net buying interests also played its part in the bearish market this week which saw Qatar’s February 2018 trade surplus at QR14.05bn mainly on higher shipments to South Korea, Japan and India, which together accounted for more than 53% of exports.
Notwithstanding, the bullish outlook of local and non-Qatari retail investors, the 20-stock Qatar Index shrank 2.85% this week which saw Al Meera Consumer Goods Company all set to open nine more outlets this year with one dedicating half of its store space for organic products.
Islamic stocks were seen declining faster than the other constituents this week which saw Woqod’s intent to invest around QR634mn this year for its expansion as part of initiatives to cater to the local market.
Profit booking was squarely visible within micro, large and midcap segments this week which saw a total of 0.48mn QATR valued at QR11.18mn change hands across 294 deals.
The Total Return Index shed 2.56%, All Share Index by 2.97% and Al Rayan Islamic Index by 2.91% and Al Rayan Islamic Index (Price) by 3.81% this week which saw a total of 0.06mn QETFs valued at QR5.65mn trade across 110 transactions.
The insurance index plummeted 6.58%, realty (4.1%), transport (3.62%), banks and financial services (3.08%), industrials (2.46%) and telecom (0.45%); while consumer goods gained 0.5% this week which saw no trading in the debt segment.
More than 82% of the traded stocks were in the red with major losers being Qatar Insurance, Industries Qatar, Gulf International Services, Mazaya Qatar, Ezdan, QIIB, Qatar Islamic Insurance, Qatar First Bank, Milaha, Woqod, Ooredoo, Nakilat; whereas Ahlibank, Vodafone Qatar, Zad Holding and Qatari Investors Group were among the gainers this week which saw banking, industrials and real estate sectors accounted for about 81% of total trade volumes.
The banks and financial services sector accounted for 44% of the total volume, industrials (20%), realty (17%), telecom (8%), insurance (5%), consumer goods (4%) and transport (3%) this week.
The banks and financial services’ share in total trade turnover was 42%, industrials (25%), consumer goods and real estate (9% each), insurance (7%), telecom (6%) and transport (3%) this week.
Domestic institutions’ net selling strengthened significantly to QR109.22mn against QR4.3mn the week ended March 22.
Non-Qatari funds’ net buying weakened considerably to QR65.57mn compared to QR110.63mn a week ago.
However, local retail investors turned net buyers to the tune of QR26.87mn against net sellers of QR59.53mn the previous week.
Non-Qatari individuals were also net buyers to the extent of QR16.78mn compared with net sellers of QR46.63mn a week ago.
Total trade volume shrank 44% to 43.14mn shares, value by 38% to QR1.03bn and transactions by 31% to 16,924.
The market witnessed 77% plunge in the telecom sector’s trade volume to 3.48mn equities, 64% in value to QR57.26mn and 54% in deals to 1,268.
The transport sector’s trade volume tanked 69% to 1.21mn equities, value by 71% to QR28.17mn and transactions by 55% to 899.
The insurance sector reported 69% shrinkage in trade volume to 2.07mn shares, 73% in value to QR66.91mn and 58% in deals to 890.
The industrials sector’s trade volume declined 49% to 8.49mn equities, value by 22% to QR252.65mn and transactions by 38% to 3,057.
There was 26% slump in the real estate sector’s trade volume to 7.19mn stocks, 31% in value to QR93.57mn and 16% in deals to 3,033.
The banks and financial services sector’s trade volume shrank 17% to 19.08mn shares, value by 26% to QR433.32mn and transactions by 19% to 6,064.
The consumer goods sector saw 16% slippage in trade volume to 1.62mn equities and 6% in value to QR97.49mn but on 2% jump in deals to 1,713.
