The Qatar Stock Exchange (QSE) witnessed an across the board selling, leading to a more than 60 points decline in the key index and more than QR2bn in capitalisation this week.The Gulf individuals were seen net profit takers as the 20-stock Qatar Index shed 0.58% this week which saw Al Mahhar Holding shareholders approve the board’s proposal to shift it to the main market from the junior bourse.The Arab retail investors turned net sellers this week which saw global credit rating agency Standard and Poor’s forecast Qatar's average debt-servicing costs to be below 5% of general government revenues by 2027, aided by debt reduction strategies and higher expected earnings related to the North Field Expansion,The industrials, telecom, insurance and consumer goods and services sectors witnessed higher than average selling pressure this week which saw the United Nations Development Programme join hands with the Ooredoo Group to establish a comprehensive policy framework to accelerate digital transformation across the Arab region.The foreign institutions continued to be bearish but with lesser intensity in the main market this week which saw Mekdam Holding bag QR71.5mn project from QatarEnergy.The Gulf funds also continued to be bearish but with lesser vigour in the main bourse this week which saw Standard and Poor’s affirm Commercial Bank’s rating at ‘A-/A-2’ with stable outlook.The domestic institutions’ substantially weakened net buying had its influence in the main market this week which saw Techno Q bag two major projects in Saudi Arabia.The local retail investors’ lower net buying had its say in the main bourse this week which saw Qatar reiterate its commitment to develop digital ecosystem.The foreign individuals were seen net buyers in the main bourse this week which saw a total of 0.18mn Masraf Al Rayan-sponsored exchange-traded fund QATR worth QR0.39mn trade across 37 deals.The Arab funds’ net selling was seen weakening in the main market this week which saw as many as 0.05mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.55mn change hands across 33 transactions.The Islamic index was seen declining faster than the other indices in the main market this week which saw the real estate and industrials sectors together constitute about 53% of the total trade volumes.Market capitalisation melted 0.35% to QR617.32bn on the back of small and microcap segments this week, which saw no trading of treasury bills.Trade turnover and volumes were on the decrease in the main market, whereas it showed expansion in the junior bourse this week, which saw no trading of sovereign bonds.The Total Return Index shed 0.58%, the All Share Index by 0.49% and the All Islamic Index by 0.73% this week.The industrials sector index tanked 1.08%, telecom (0.99%), insurance (0.93%), consumer goods and services (0.74%), transport (0.49%), banks and financial services (0.17%) and real estate (0.16%) this week.Major losers in the main bourse included Qatar General Insurance and Reinsurance, Aamal Company, Beema, Widam Food, Al Khaleej Takaful, Qatar Islamic Bank, Alijarah Holding, Dlala, Salam International Investment, Woqod, Al Faleh Educational Holding, Qatar Electricity and Water, Industries Qatar, Estithmar Holding, Mazaya Qatar, Ooredoo and Gulf Warehousing. In the venture market, Techno Q saw its shares depreciate in value this week.Nevertheless, Ezdan, QIIB, QLM, Medicare Group and Qatari Investors Group were among the gainers in the main market. In the junior bourse, Al Mahhar Holding saw its shares appreciate in value this week.The Gulf individuals turned net sellers to the tune of QR7.2mn compared with net buyers of QR3.03mn the week ended November 14.The Arab retail investors were net sellers to the extent of QR3.53mn against net buyers of QR10.35mn the previous week.The domestic institutions’ net buying weakened substantially to QR80.11mn compared to QR191.34mn a week ago.The local retail investors’ net buying declined significantly to QR11.24mn against QR47.45mn the week ended November 14.However, the foreign individuals turned net buyers to the tune of QR4.72mn compared with net sellers of QR0.55mn the previous week.The foreign institutions’ net profit booking shrank drastically to QR73.29mn against QR200.48mn a week ago.The Gulf institutions’ net selling decreased considerably to QR12.06mn compared to QR51.1mn the week ended November 14.The Arab institutions’ net profit booking eased marginally to QR0.02mn against QR0.03mn the previous week.The main market witnessed a 22% contraction in trade volumes to 552.73mn shares, 28% in value to QR1.45bn and 24% in deals to 57,955 this week.In the venture market, trade volumes gained 17% to 4.58mn equities, value by 22% to QR11.59mn and transactions by 9% to 337.
November 22, 2024 | 09:46 PM