The industrials, insurance and banking counters witnessed higher than average net selling as the 20-stock Qatar Index knocked off 1.4% this week which saw the Qatar Investment Authority and Ashmore Group enter into a strategic tie up to launch a $200mn Qatari equity fund.
The foreign institutions were seen increasingly net profit takers this week which saw QIIB issue $500mn sustainable sukuk and was oversubscribed eight times.
The Gulf institutions were seen net sellers this week which saw Qatar Islamic Bank report net profit of QR4.3bn in 2023.
The Arab retail investors’ weakened net buying had its influence in the main market this week which saw Woqod report net profit of QR983.96mn in 2023.
More than 80% of the traded constituents were in the red in the main bourse this week which saw Ahlibank Qatar register net profit of QR836.5mn in 2023.
However, the domestic funds were increasingly net buyers in the main market this week which saw the third national development strategy forecast that Qatar’s sovereign expenditure growth not to exceed non-hydrocarbon growth by 2030.
The local retail investors turned bullish in the main bourse this week which saw Q-Fab, a subsidiary of Mahhar Holding, in a dealership contract with Zhejiang Dingli Machinery Company.
The foreign individuals were seen net buyers in the main market this week which saw a total of 0.28mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.63mn trade across 36 deals.
The Arab institutions turned net buyers in the main bourse this week which saw this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.29mn change hands across 53 transactions.
The Gulf individuals continued to bet net sellers but with lesser intensity in the main market this week, which saw consumer price index inflation in Qatar rise 1.59% month-on-month and 1.65% year-on-year in December 2023.
The Islamic index was seen declining slower than the other indices in the main bourse this week which saw the banks and industrials together constitute more than 57% of the total trade volumes.
Market capitalisation eroded QR9.13bn or 1.5% to QR600.23bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds.
Trade volumes and turnover were on the decline in the main bourse; while it was on the decline in the venture market this week, which saw no trading of treasury bills.
The Total Return Index shed 1.4%, the All Share Index by 1.48% and the All Islamic Index by 1.19% this week, which saw Qatar’s industrial production index plunge 5.8% year-on-year in November 2023.
The industrial sector index tanked 3.1%, insurance (2.99%), banks and financial services (1.41%), consumer goods and services (1.35%) and real estate (0.91%); while telecom and transport gained 3.3% and 0.13% respectively this week.
Major losers in the main market included Industries Qatar, Aamal Company, Qamco, Qatar Insurance, Ezdan, Mazaya Qatar, Mesaieed Petrochemical Holding, Qatar General Insurance and Reinsurance, QLM, Inma Holding, Qatari German Medical Devices, QNB, QIIB, Doha Bank, Medicare Group and Baladna. In the venture market, Mahhar Holding saw its shares depreciate in value this week.
Nevertheless, Ooredoo, Gulf International Services, Ahlibank Qatar, Doha Insurance and Milaha were among the gainers in the main market. In the junior bourse, Al Faleh Educational Holding saw its shares appreciate in value this week.
The foreign funds’ net selling increased substantially to QR66.34mn compared to QR9.35mn the week ended January 11.
The Gulf funds were net profit takers to the tune of QR59.16mn against net buyers of QR9.09mn the previous week.
The Arab individual investors’ net buying eased marginally to QR4.04mn compared to QR5mn a week ago.
However, the domestic funds’ net buying rose significantly to QR84.78mn against QR33.53mn the week ended January 11.
The local retail investors were net buyers to the extent of QR36.96mn compared with net sellers of QR23.12mn the previous week.
The foreign individuals turned net buyers to the tune of QR1.04mn against net profit takers of QR13.6mn a week ago.
The Arab institutions were net buyers to the extent of QR0.05mn compared with net sellers of QR0.14mn the week January 11.
The Gulf individual investors’ net profit booking eased marginally to QR1.37mn against QR1.4mn the previous week.
The main market witnessed a 30% surge in trade volumes to 885.83mn shares, 52% in value to QR2.93bn and 26% in deals to 94,378 this week.
In the venture market, trade volumes declined 49% to 0.74mn equities, value by 39% to QR0.89mn and transactions by 19% to 79.
