The Qatar Stock Exchange (QSE) witnessed strong selling pressure from local retail investors, leading to 26 points decline in its key index this week, which otherwise saw regional sentiments strengthen ahead of an Opec+ meeting and a likely US interest rate cuts.
Five of the seven sectors witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.25% this week which saw the Qatar Financial Centre’s purchasing managers’ index reveal that the sustained growth in new business led Doha report solid improvement in its non-energy private sector in November 2024.
The industrials, real estate, telecom, consumer goods, transport and insurance were seen as the drag in the main bourse this week which saw Qatar’s ports see increased ship calls and higher volumes of cargoes and RORO in November 2024.
The foreign retail investors were increasingly bearish this week which saw Estithmar Holding sign a 15-year contract for managing a hospital in Libya.
The Arab individuals were seen increasingly net profit takers in the main market this week which saw Qatar’s automobile sector register double-digit year-on-year growth in new registrations this September.
The Arab institutions turned net sellers, albeit at lower levels, in the main bourse this week which saw a total of 0.1mn AlRayan Bank-sponsored exchange-traded fund QATR worth QR0.24mn trade across 21 deals.
The domestic funds’ substantially weakened net buying had its influence in the main market this week which saw as many as 0.03mn Doha Bank-sponsored exchange-traded fund QETF valued at QR0.24mn change hands across seven transactions
However, the Gulf retail investors were seen net buyers in the main bourse this week which saw the banks and industrials sectors together constitute about 56% of the total trade volumes.
The Islamic index was seen declining faster than the other indices in the main market this week, which saw market capitalisation melt QR2.09bn or 0.34% to QR615.07bn on the back of small and microcap segments.
Trade turnover and volumes were on the decline in the main and junior markets this week which saw not trading of treasury bills and sovereign bonds.
The Total Return Index fell 0.25%, the All Share Index by 0.2% and the All Islamic Index by 0.6% this week.
The industrials sector index tanked 1.08%, realty (0.61%), telecom (0.61%), consumer goods and services (0.6%), transport (0.54%) and insurance (0.46%); while banks and financial services gained 0.35% this week.
Major losers in the main bourse included Qatar General Insurance and Reinsurance, Qatar Cinema and Film Distribution, Al Faleh Educational Holding, Medicare Group, Qatari Investors Group, Dukhan Bank, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qamco, Mazaya Qatar, Ezdan, Vodafone Qatar and Gulf Warehousing. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value this week.
Nevertheless, Alijarah Holding, Commercial Bank, Dlala, Widam Food, Doha Bank and Lesha Bank were among the gainers in the main market this week.
The Qatari individuals were net sellers to the tune of QR31.94mn against net buyers of QR32.88mn the week ended November 28.
The foreign individual investors’ net selling grew significantly to QR7.47mn compared to QR0.13mn the previous week.
The Arab retail investors’ net profit booking increased perceptibly to QR5.58mn against QR4.02mn a week ago.
The Arab funds turned net sellers to the tune of QR0.02mn compared with no major net exposure the week ended November 28.
The domestic institutions’ net buying fell substantially to QR71.61mn against QR185.63mn the previous week.
However, the Gulf individuals were net buyers to the extent of QR1.84mn compared with net sellers of QR12.62mn a week ago.
The foreign institutions’ net selling weakened drastically to QR10.06mn against QR134.58mn the week ended November 28.
The Gulf institutions’ net profit booking shrank considerably to QR18.18mn compared to QR67.17mn the previous week.
The main market witnessed a 15% decline in trade volumes to 506.06mn shares, 38% in value to QR1.26bn and 10% in deals to 55,147 this week.
In the venture market, trade volumes plummeted 23% to 0.54mn equities, value by 24% to QR1.39mn and transactions by 46% to 71.
Five of the seven sectors witnessed higher than average selling pressure as the 20-stock Qatar Index fell 0.25% this week
