* QSE crosses 11,000 levels as bank scrips soar on 100% foreign ownership limit
The Qatar Stock Exchange witnessed strong buying interests from the foreign funds as it crossed the 11,000 levels this week, which saw the cabinet approve up to 100% foreign ownership limit in four listed banks.
The Gulf and foreign individuals were seen bullish this week, which saw the listed companies register 28% year-on-year rise in net profit to QR20.56bn in the first half of this year.
The banking and financial services counter witnessed higher than average demand as the 20-stock Qatar Index rose 1.03% this week which saw Fitch, a global credit rating agency, revises up Qatar's 2021 fiscal surplus to 4% of gross domestic product from 2.3% on rising hydrocarbon prices.
The Gulf funds and Arab individuals continued to be net buyers but with lesser intensity this week which saw QNB, Qatar Islamic Bank (QIB), Commercial Bank and Masraf Al Rayan receive cabinet approval to enhance foreign ownership limit up to 100%.
However, domestic funds and local retail investors were increasingly net sellers this week which saw Baladna sign memorandum of co-operation with Felcra to produce fresh dairy products in Malaysia.
The Arab funds were seen increasingly into net profit booking this week which saw Fitch confirm QIIB’s credit rating at ‘A’ with stable outlook.
Five of the seven sectors were under selling pressure this week which saw a total of 161,893 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR400,991 change hands across 25 deals.
The Islamic index was seen gaining slower than the other indices this week which saw a total of 545,888 Doha Bank-sponsored QETF valued at QR5.86mn trade across 54 transactions.
Market capitalisation saw more than QR2bn or 0.36% jump to QR638.21bn, mainly on small cap segments this week which saw the industrials and consumer goods and services sectors together constitute about 68% of the total trade volume.
The banks and financial services sector index shot up 1.97% and transport (0.03%); while industrials shrank 1.3%, realty (0.18%), insurance (0.08%), consumer goods and services (0.06%) and telecom (0.01%) this week which saw as many as 263,053 sovereign bonds valued at QR2.7bn change hands across five deals.
Major gainers included Commercial Bank, QIB, Masraf Al Rayan, Al Khaliji, QIIB, Ahlibank Qatar, Baladna and United Development Company this week which saw no trading treasury bills.
Nevertheless, about 65% of the traded constituents were in the red with major losers being Mannai Corporation, QLM, Alijarah Holding, Gulf International Services, Mazaya Qatar, Doha Bank, Qatar First Bank, Dlala, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance and Ezdan this week which the overall trade turnover and volumes shrink.
The industrials sector accounted for 43% of the total trade volume, consumer goods and services (24%), banks and financial services (18%), real estate (9%), transport (3%), telecom (2%) and insurance (1%) this week.
In terms of value, the banks and financial services’ share was 43% of the total, industrials (29%), consumer goods and services (14%), realty and transport (5% each), telecom (2%) and insurance (1%) this week.
The foreign funds’ net buying increased significantly to QR328.62mn against QR86.72mn the week ended August 12.
The Gulf individuals turned net buyers to the tune of QR1.15mn compared with net sellers of QR0.83mn a week ago.
Foreign individuals turned net buyers to the tune of QR1.01mn against net sellers of QR35.83mn the previous week.
However, the domestic funds’ net selling grew considerably to QR170.13mn compared to QR26.41mn the week ended August 12.
Qatari individuals’ net profit boking strengthened substantially to QR161.09mn against QR45.63mn a week ago.
The Arab funds’ net selling expanded perceptibly to QR1.01mn compared to QR0.19mn the previous week.
The Gulf institutions’ net buying weakened noticeably to QR0.25mn against QR12.06mn the week ended August 12.
The Arab individuals’ net buying fell drastically to QR1.2mn compared to QR10.13mn a week ago.
Total trade volume fell 21% to 872.13mn shares, value by 3% to QR2.15bn and transactions by 6% to 45,323.
The consumer goods and services sector reported 28% plunge in trade volume to 211.02mn equities, 27% in value to QR306.53mn and 19% in deals to 6,107.
The industrials sector’s trade volume plummeted 26% to 378.23mn stocks, value by 31% to QR317.7mn and transactions by 24% to 13,124.
There was 19% shrinkage in the real estate sector’s trade volume to 80.33mn shares, 20% in value to QR108.81mn and 20% in deals to 3,193.
The banks and financial services sector’s trade volume was down 3% to 153.69mn equities, whereas value shot up 42% to QR926mn and transactions by 20% to 18,154.
The market witnessed 1% contraction in the insurance’s sector’s trade volume to 8.65mn stocks, 16% in value to QR24.32mn and 36% in deals to 599.
However, the transport sector’s trade soared 72% to 26.63mn shares and value more than doubled to QR114.97mn on 29% jump in transactions to 2,489.
The telecom sector saw 18% surge in trade volume to 13.58mn equities, 28% in value to QR48.8mn and less than 1% in deals to 1,657.
The Gulf and foreign individuals were seen bullish this week, which saw the listed companies register 28% year-on-year rise in net profit to QR20.56bn in the first half of this year.
The banking and financial services counter witnessed higher than average demand as the 20-stock Qatar Index rose 1.03% this week which saw Fitch, a global credit rating agency, revises up Qatar's 2021 fiscal surplus to 4% of gross domestic product from 2.3% on rising hydrocarbon prices.
The Gulf funds and Arab individuals continued to be net buyers but with lesser intensity this week which saw QNB, Qatar Islamic Bank (QIB), Commercial Bank and Masraf Al Rayan receive cabinet approval to enhance foreign ownership limit up to 100%.
However, domestic funds and local retail investors were increasingly net sellers this week which saw Baladna sign memorandum of co-operation with Felcra to produce fresh dairy products in Malaysia.
The Arab funds were seen increasingly into net profit booking this week which saw Fitch confirm QIIB’s credit rating at ‘A’ with stable outlook.
Five of the seven sectors were under selling pressure this week which saw a total of 161,893 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR400,991 change hands across 25 deals.
The Islamic index was seen gaining slower than the other indices this week which saw a total of 545,888 Doha Bank-sponsored QETF valued at QR5.86mn trade across 54 transactions.
Market capitalisation saw more than QR2bn or 0.36% jump to QR638.21bn, mainly on small cap segments this week which saw the industrials and consumer goods and services sectors together constitute about 68% of the total trade volume.
The banks and financial services sector index shot up 1.97% and transport (0.03%); while industrials shrank 1.3%, realty (0.18%), insurance (0.08%), consumer goods and services (0.06%) and telecom (0.01%) this week which saw as many as 263,053 sovereign bonds valued at QR2.7bn change hands across five deals.
Major gainers included Commercial Bank, QIB, Masraf Al Rayan, Al Khaliji, QIIB, Ahlibank Qatar, Baladna and United Development Company this week which saw no trading treasury bills.
Nevertheless, about 65% of the traded constituents were in the red with major losers being Mannai Corporation, QLM, Alijarah Holding, Gulf International Services, Mazaya Qatar, Doha Bank, Qatar First Bank, Dlala, Industries Qatar, Mesaieed Petrochemical Holding, Qatar Islamic Insurance and Ezdan this week which the overall trade turnover and volumes shrink.
The industrials sector accounted for 43% of the total trade volume, consumer goods and services (24%), banks and financial services (18%), real estate (9%), transport (3%), telecom (2%) and insurance (1%) this week.
In terms of value, the banks and financial services’ share was 43% of the total, industrials (29%), consumer goods and services (14%), realty and transport (5% each), telecom (2%) and insurance (1%) this week.
The foreign funds’ net buying increased significantly to QR328.62mn against QR86.72mn the week ended August 12.
The Gulf individuals turned net buyers to the tune of QR1.15mn compared with net sellers of QR0.83mn a week ago.
Foreign individuals turned net buyers to the tune of QR1.01mn against net sellers of QR35.83mn the previous week.
However, the domestic funds’ net selling grew considerably to QR170.13mn compared to QR26.41mn the week ended August 12.
Qatari individuals’ net profit boking strengthened substantially to QR161.09mn against QR45.63mn a week ago.
The Arab funds’ net selling expanded perceptibly to QR1.01mn compared to QR0.19mn the previous week.
The Gulf institutions’ net buying weakened noticeably to QR0.25mn against QR12.06mn the week ended August 12.
The Arab individuals’ net buying fell drastically to QR1.2mn compared to QR10.13mn a week ago.
Total trade volume fell 21% to 872.13mn shares, value by 3% to QR2.15bn and transactions by 6% to 45,323.
The consumer goods and services sector reported 28% plunge in trade volume to 211.02mn equities, 27% in value to QR306.53mn and 19% in deals to 6,107.
The industrials sector’s trade volume plummeted 26% to 378.23mn stocks, value by 31% to QR317.7mn and transactions by 24% to 13,124.
There was 19% shrinkage in the real estate sector’s trade volume to 80.33mn shares, 20% in value to QR108.81mn and 20% in deals to 3,193.
The banks and financial services sector’s trade volume was down 3% to 153.69mn equities, whereas value shot up 42% to QR926mn and transactions by 20% to 18,154.
The market witnessed 1% contraction in the insurance’s sector’s trade volume to 8.65mn stocks, 16% in value to QR24.32mn and 36% in deals to 599.
However, the transport sector’s trade soared 72% to 26.63mn shares and value more than doubled to QR114.97mn on 29% jump in transactions to 2,489.
The telecom sector saw 18% surge in trade volume to 13.58mn equities, 28% in value to QR48.8mn and less than 1% in deals to 1,657.
