The transport, telecom and banking counters witnessed higher than average demand as the 20-stock Qatar Index surged 1.41% this week which saw the Qatar Central Bank maintain status quo on its key rates, following the US monetary policy due to the fixed exchange rate parity.
The domestic institutions were seen net buyers but with lesser intensity tin the main bourse this week which saw Alijarah Holding disclose it plans to expand operations into Saudi Arabia.
The foreign funds’ weakened net selling had its influence in the main market this week which saw Mesaieed Petrochemical Holding and Qatar Industrial Manufacturing join with QatarEnergy in a joint venture to establish QR1bn salt production plant.
The Gulf institutions’ lower net profit booking had its say in the main bourse this week which saw GIS shareholders approve its subsidiary Gulf Drilling International to buy the remaining 50% stake in Gulfdrill from the US-based Seadrill.
About 58% of the traded constituents extended gains in the main market this week which saw Mazaya Qatar disclose that it sold land in Dubai for QR24.3mn.
The foreign individuals’ weakened net selling also had its say in the main bourse this week which saw soon to be listed Techno Q disclose its intention to be QR1bn turnover entity in five years.
The Arab individuals’ lower net profit booking had its influence in the main market this week which saw a total of 0.08mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.17mn trade across 14 deals.
However, the local retail investors were increasingly bearish in the main bourse which saw as many as 0.04mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.39mn change hands across 32 transactions.
The Islamic index was seen gaining slower than the other indices in the main market this week which saw the banks and industrials sectors together constitute more than 52% of the total trade volumes.
Market capitalisation shot up QR8.44bn or 1.53% to QR561.47bn on the back of large and midcap segments this week, which saw no trading of sovereign bonds.
Trade turnover and volumes were on the increase in the main market this week which saw no trading of treasury bills.
In the case of venture market, trade turnover and volumes were also on an expansion this week, which saw the QCB unveil its environment, social and governance (ESG) strategy.
The Total Return Index zoomed 1.41%, the All Share Index by 1.49% and the All Islamic Index by 0.39% this week.
The transport sector index surged 3.61%, telecom (1.95%), banks and financial services (1.88%) and industrials (1.3%); while real estate declined 1.66%, consumer goods and services (0.64%) and insurance (0.6%) this week.
Major gainers in the main market included Widam Food, Nakilat, Gulf International Services, Qatari Investors Group, Qatari German Medical Devices, QNB, Zad Holding, Industries Qatar, Ooredoo and Qatari Investors Group. In the venture market, Al Mahhar Holding saw its shares appreciate in value this week.
Nevertheless, Qatar Cinema and Film Distribution, Qatar General Insurance and Reinsurance, Qamco, Qatar Oman Investment, Barwa, Ahlibank Qatar, Medicare Group, Salam International Investment, Meeza and Qatar Islamic Insurance were among the shakers in the main bourse this week.
The foreign institutions’ net selling declined significantly to QR166.33mn compared to QR234.32mn the week ended June 6.
The Gulf institutions’ net profit boking shrank substantially to QR36.56mn against QR81.77mn the previous week.
The Arab retail investors’ net selling weakened drastically to QR2.06mn compared to QR21.71mn a week ago.
The foreign individual investors’ net selling fell noticeably to QR5.62mn against QR10.66mn the week ended June 6.
The Gulf individuals’ net profit booking decreased perceptibly to QR2.11mn compared to QR5.34mn the previous week.
However, the local individuals’ net selling strengthened markedly to QR85.99mn against QR48.32mn a week ago.
The domestic funds’ net buying fell considerably to QR298.66mn compared to QR402.12mn the week ended June 6.
The Arab institutions had no major net exposure for the second straight week.
The main market witnessed 11% jump in trade volumes to 810.67mn shares and 1% in value to QR2.23bn but on less than 1% decline in deals to 78,100 this week.
In the venture market, trade volumes more than doubled to 0.69mn equities and value also more than doubled to QR1.11mn on more than doubled transactions to 109.
