The industrials and banking sectors witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.95% this week which saw Qatar's consumer price index inflation decline 1.4% month-on-month this March.
The domestic funds were seen increasingly into net profit booking this week which saw Qatar's industrial production index jump 0.4% year-on-year in February 2024.
“The index remains below all MAs on the weekly chart, while a cross over the resistance line at 10,300 points would be the first improvement sign that should lead to 10,830 points, knowing that a close above this will target 11,130 points,” said a technical analysis note of Kamco Invest.
The foreign institutions were seen increasingly bearish in the main market this week which saw Qatar Islamic Bank report a 5.5% year-on-year growth in net profit to QR955mn in the first three months of this year.
The Gulf individuals’ increased net selling had its influence on the main bourse this week which saw Qatari Investors Group register net profit of QR43.5mn during January-March 2024.
The foreign retail investors continued to be net profit takers but with lesser intensity in the main market this week which saw a total of 0.2mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.46mn trade across 26 deals.
The local retail investors were seen net buyers in the main bourse this week which saw as many as 0.01mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.09mn change hands across 10 transactions.
The Islamic index was seen gaining slower than the other indices in the main market this week which saw the industrials and banks sectors together constitute about 64% of the total trade volumes.
Market capitalisation eroded QR5.66bn or 0.98% to QR570.64bn on the back of mid and small cap segments this week which saw no trading of sovereign bonds.
Trade volumes and turnover were on the increase in both the main and venture markets this week which saw no trading of treasury bills.
The Total Return Index shed 0.96%, the All Share Index by 0.86% and the All Islamic Index by 0.36% this week.
The industrials sector index tanked 1.83%, banks and financial services (1.31%), telecom (0.43%), consumer goods and services (0.42%) and insurance (0.13%); while transport and real estate gained 2.8% and 1.12% respectively this week.
Major losers in the main market included Qatari Investors Group, Commercial Bank, Qatar Islamic Insurance, Industries Qatar, Alijarah Holding, Qatar Islamic Bank, QNB, Ahlibank Qatar, Woqod, Qatar German Medical Devices, Gulf International Services, Mesaieed Petrochemical Holding, Ezdan and Mazaya Qatar.
In the venture market, Al Mahhar Holding saw its shares depreciate in value this week.
Nevertheless, Meeza, Baladna, Gulf Warehousing, Medicare Group, Milaha, QIIB, Qatar Oman Investment, Widam Food, Mekdam Holding, Aamal Company, Qamco, United Development Company and Nakilat were among the gainers in the main bourse this week.
The domestic funds’ net selling strengthened drastically to QR68.03mn compared to QR2.18mn the week ended April 11.
The foreign institutions turned net sellers to the tune of QR67.42mn against net buyers of QR17.68mn the previous week.
The Gulf individuals’ net profit booking increased perceptibly to QR1.15mn compared to QR0.62mn a week ago.
However, the Gulf institutions’ net buying surged drastically to QR61.81mn against QR13.01mn the week ended April 11.
The Qatari individuals were net buyers to the extent of QR58.05mn compared with net sellers of QR10.08mn the previous week.
The Arab individual investors turned net buyers to the tune of QR17.37mn against net profit takers of QR12.21mn a week ago.
The foreign retail investors’ net selling weakened noticeably to QR0.62mn compared to QR5.62mn the week ended April 11.
The Arab institutions continued to have no major net exposure.
The main market witnessed trade volumes more than tripled to 778.71mn shares and value more than triple to QR2.35bn and deals also more than triple to 80,908 this week.
In the venture market, trade volumes more than doubled to 0.77mn equities and value also more than doubled to QR1.16mn on almost tripled transactions to 108.