The concerns on the US inflation data before its release on Friday had its lingering effect on the Qatar Stock Exchange (QSE), whose key index shed as much as 268 points and market capitalisation erode QR15bn this week.The local retail investors were seen net profit takers as the 20-stock Qatar Index tanked 2.62% this week which saw Fitch, an international credit rating agency, upgrade Qatar’s seven banks, following the upgrade of sovereign rating.The transport, insurance and banking counters experienced higher than average selling pressure this week which saw QatarEnergy and Nakilat sign a long-term charter agreement for 25 liquefied natural gas vessels.The foreign institutions were seen bearish in the main market this week which saw Masraf Al Rayan and Aamal Company begin negotiations for selling the former’s stake Ci-San Trading.The Gulf individuals’ weakened net buying had its influence in the main bourse this week which saw the QSE move to ‘T+2’ settlement cycle from ‘T+3’.More than 88% of the traded constituents were in the red in the main market this week which saw Fitch upgrade Nakilat’s credit rating to ‘AA-‘ from ‘A’ with stable outlook.However, the domestic funds turned bullish in the main bourse this week which saw a total of 0.03mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.06mn trade across 12 deals.The foreign retail investors were increasingly net buyers in the main market this week which saw as many as 2,573 Doha Bank-sponsored exchange-traded fund QETF valued at QR0.03mn change hands across six transactions.The Islamic index was seen declining slower than the other indices in the main market this week which saw the banks and real estate sectors together constitute about 57% of the total trade volumes.Market capitalisation melted QR14.78bn or 2.51% to QR574.22bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds and treasury bills.Trade volumes and turnover were on the increase in both the main and junior bourses his week which saw Masraf Al Rayan enter into pact with Edaa for dividend distribution.The Total Return Index tanked 2.36%, the All Share Index by 2.49% and the All Islamic Index by 2.15% this week.The transport sector index plummeted 4.25%, insurance (3.28%), banks and financial services (2.92%), realty (2.24%), consumer goods and services (1.81%), industrials (1.21%) and telecom (1.1%) this week.Major losers in the main market included Qatar Islamic Insurance, Doha Insurance, Zad Holding, Qatari German Medical Devices, Widam Food, QNB, Qatar Islamic Bank, Commercial Bank, Doha Bank, Lesha Bank, Masraf Al Rayan, Dlala, Baladna, Al Faleh Educational Holding, Industries Qatar, Aamal Company, Estithmar Holding, Ezdan, Barwa, Milaha, Gulf Warehousing and Nakilat. In the venture market, Al Mahhar Holding saw its shares depreciate in value this week.Nevertheless, Ahlibank Qatar, Mekdam Holding, United Development Company, Qatar General Insurance and Reinsurance and Mesaieed Petrochemical Holding were among the gainers in the main bourse this week.The Qatari individuals were net sellers to the tune of QR41.07mn against net buyers of QR37.42mn the week ended March 21.The foreign institutions turned net sellers to the extent of QR2.38mn compared with net buyers of QR53.71mn the previous week.The Gulf individual investors’ net buying weakened marginally to QR2.45mn against QR2.72mn a week ago.However, the domestic funds turned net buyers to the tune of QR21.91mn compared with net sellers of QR77.06mn the week ended March 21.The foreign retail investors’ net buying strengthened noticeably to QR12.18mn against QR6.74mn the previous week.The Gulf institutions were net buyers to the extent of QR5.79mn compared with net profit takers of QR24.22mn a week ago.The Arab individual investors’ net buying expanded marginally to QR1.11mn against QR0.78mn the week ended March 21.The Arab institutions had no major net exposure compared with net sellers to the tune of QR0.11mn the previous week.The main market witnessed less than 1% jump in trade volumes to 688.19mn shares, 12% in value to QR2.22bn and 5% in deals to 70,265 this week.In the venture market, trade volumes zoomed 62% to 0.42mn equities, value by 60% to QR0.64mn and transactions by 11% to 61.
March 29, 2024 | 11:32 PM