The Gulf funds were increasingly net sellers as the 20-stock Qatar Index tanked 1.93% this week, which saw Doha's non-energy private sector see improved business conditions towards the end of 2023, according to the Qatar Financial Centre’s purchasing mangers’ index.
The industrials and telecom counters witnessed higher than average selling pressure in the main market this week which saw Ooredoo, Zain and TASC create largest tower company in the Middle East and North Africa with valuation of $2.2bn.
As much as 73% of the traded constituents were in the red in the main market this week which saw Qatar’s banking sector being strategised to launch new products to support growth in priority sectors, expansion of trade and export finance for corporates, special finance for small and medium enterprises and create savings and investment products for expatriates.
The Arab retail investors turned net sellers in the main bourse this week which saw Al-Faleh Educational Holding approach the Qatar Financial Markets Authority to transfer its listing to the main market.
The foreign institutions’ weakened net buying had its influence in the main market this week which saw plans afoot in the Qatar's insurance industry to expand the offerings like life and health and launch climate insurance as well as tailored services for priority sectors as logistics and manufacturing.
The Gulf individuals continued to be bearish but with lesser intensity in the main bourse this week which saw a total of 0.09mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.19mn trade across 32 deals.
The domestic institutions were seen increasingly net buyers in the main market this week which saw as many as 0.02mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.17mn change hands across 10 transactions.
The Islamic index was seen declining faster than the other indices in the main bourse this week which saw the industrials and banks together constitute about 68% of the total trade volume.
Market capitalisation was seen eroding QR10.1bn or 1.72% to QR577399bn on the back of mid and microcap segments this week, which saw no trading of sovereign bonds.
Trade volumes and turnover were on the decline both in the main bourse and venture market this week, which saw no trading of treasury bills.
The Total Return Index shed 1.93%, the All Share Index by 1.57% and the All Islamic Index by 2.41% this week which saw robust increase in the container movement and cargo handling in Hamad, Doha and Al Ruwais ports this November on an annualised basis, reflecting the vibrancy in the private sector.
The industrials sector index tanked 2.94%, telecom (2.7%), banks and financial services (1.36%), insurance (1.26%), real estate (0.65%), consumer goods and services (0.32%) and transport (0.03%) this week which saw Qatar Plastic and Wooden Products Company, a subsidiary of Qatar Industrial Manufacturing Company, commence the plastic bags and wooden pallets project in the Ras Laffan Industrial City.
Major losers in the main market included Mesaieed Petrochemical Holding, Gulf International Services, Qatari German Medical Devices, Ezdan, Masraf Al Rayan, Qatar Islamic Bank, Ahlibank Qatar, Lesha Bank, Medicare Group, Widam Food, Baladna, Industries Qatar, Qamco, Qatari Investors Group, Mazaya Qatar, Vodafone Qatar and Ooredoo. In the venture market, both Al Faleh Educational Holding and Mahhar Holding saw their shares depreciate in value this week which saw Qatar's producers' price index rise in October 2023 but at a reduced pace against the previous month.
Nevertheless, Qatar General Insurance and Reinsurance, Zad Holding, Doha Insurance and Untied Development Company were among the gainers in the main market this week which saw Qatar's hospitality sector register improved rooms' yield in October 2023 year-on-year on higher occupancy.
The Gulf institutions’ net selling increased substantially to QR143.02mn compared to QR56.09mn the week ended November 30.
The Arab individual investors turned net sellers to the tune of QR0.41mn against net buyers of QR4.29mn the previous week.
The foreign institutions’ net buying declined significantly to QR30.34mn compared to QR77.46mn a week ago.
However, the domestic institutions’ net buying strengthened drastically to QR63.21mn against QR9.79mn the week ended November 30.
The local retail investors were net buyers to the extent of QR40.01mn compared with net sellers of QR28.07mn the previous week.
The foreign individual investors’ net buying expanded markedly to QR9.91mn against QR5.3mn a week ago.
The Arab funds turned net buyers to tune of QR0.06mn compared with net sellers of QR0.1mn the week ended November 30.
The Gulf individual investors’ net profit booking weakened noticeably to QR0.11mn against QR12.57mn the previous week.
The main market witnessed a 14% decline in trade volumes to 599.14mn shares and 24% in value to QR1.81bn but on 35% expansion in deals to 66,693 this week.
In the venture market, trade volumes plunged 84% to 1.41mn equities, value by 82% to QR1.6mn and transactions by 70% to 141.
