The lifting of sentiments on the gradual easing of Covid-19 related restrictions had its reflection on the Qatar Stock Exchange, which saw the addition of 379 points in its key index and more than QR20bn in capitalisation.
Foreign institutions were seen bullish this week which saw Aamal Company being included in the MSCI small cap index.
“Qatar has probably weathered the storm and it is better than most of the emerging markets,” Jean-Maurice Ladure, Head of Applied Research in EMEA (Europe, the Middle East, and Africa), MSCI, told a recent web meeting.
The Arab individuals’ increased net buying and the significantly lower selling pressure from the Arab funds also had its influence in lifting the sentiments this week which saw Qatar’s trade surplus at QR4.3bn in April this year.
Four of the five days witnessed strong buying interests this week which saw Thaddeus Malesa, Senior Advisor, Economics and Research of the Financial Sector Office at the Qatar Financial Center, opine that Doha’s capital market needs short term good quality Islamic monetary market instruments to help banks address liquidity.
Notwithstanding the increased net profit booking pressure from local retail investors and the substantially weakened net buying by domestic funds, the 20-stock Qatar Index surged 4.27% this week which saw conventional brokerage outfits improve their share in market trade turnover in April 2020.
The telecom, industrials and consumer goods counters witnessed higher than average demand this week which saw Islamic stocks gain faster than the conventional ones.
The Total Return Index shot up 4.27%, Al Rayan Islamic Index by 4.52% and All Share Index by 3.7% this week this which saw as many as 3.26mn Masraf Al Rayan sponsored exchange traded fund QATR valued at QR6.77mn changed hands across 123 transactions.
Market capitalisation registered 4.01% expansion to QR524.63bn mainly on large and small cap segments this week which saw a total of 4,500 Doha Bank-sponsored QETF worth QR41,482 traded across five deals.
The telecom index soared 7.41%, industrials (7.11%), consumer goods and services (5.28%), transport (3.76%), real estate (2.66%) and banks and financial services (2.58%); while insurance was down 0.67% this week which saw more than 74% of the traded stocks extend gains.
Major movers included Ooredoo, Vodafone Qatar, Industries Qatar, Gulf International Services, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Qamco, Commercial Bank, Qatar Islamic Bank, Doha Bank, QNB, Alijarah Holding, Qatar First Bank, Mannai Corporation, Qatar German Company for Medical Devices, Nakilat and Qatar Industrial Manufacturing; even as Qatar Insurance, Qatar General Insurance and Reinsurance, Aamal Company, Masraf Al Rayan and Dlala were among the losers.
Trade turnover and volume were on the decline this week which saw the real estate sector account for 34% of the total trading volume, industrials (21%), banks and financial services (19%), consumer goods and services (12%), transport (7%), insurance (4%) and telecom (3%) this week.
In value, the banks and financial sector’s share was 41%, industrials (18%), realty (14%), consumer goods and services (13%), transport (8%), telecom (4%) and insurance (3%) this week.
Foreign institutions turned net buyers to the extent of QR164.58mn against net sellers of QR213.54mn a week ago.
The Arab individuals’ net buying increased markedly to QR2.06mn compared to QR0.91mn the week ended May 21.
The Arab institutions’ net selling declined noticeably to QR0.45mn against QR5.78mn the previous week.
The Gulf individuals’ net profit booking fell perceptibly to QR3.29mn compared to QR6.17mn a week ago.
However, local retail investors turned net sellers to the tune of QR188.44mn against net buyers of QR8.22mn the week ended May 21.
Foreign individuals were also net sellers to the extent of QR2.47mn compared with net buyers of QR7.54mn the previous week.
Domestic institutions’ net buying shrank influentially to QR2.47mn compared to QR174.49mn a week ago.
The Gulf institutions’ net buying also eased perceptibly to QR25.72mn against QR34.26mn the week ended May 21.
Total trading volume fell 9% to 884.98mn shares and value by 10% to QR2.06bn, while transactions were up 16% to 61,176.
The insurance sector’s trade volume plummeted 75% to 34.27mn equities, value by 75% to QR70.05mn and deals by 45% to 3,084.
The transport sector reported 45% plunge in trade volume to 60.3mn stocks, 42% in value to 156.27mn and 44% in transactions to 3,998.
The consumer goods sector’s trade volume tanked 36% to 110.04mn shares, while value grew 2% to QR269.49mn despite 18% lower deals at 6,537.
The market witnessed 16% shrinkage in the industrials sector’s trade volume to 189.04mn equities and 2% in value to QR360.6mn but on 43% growth in transactions to 12,200.
The banks and financial services sector’s trade volume was down 2% to 164.75mn stocks and value by 8% to QR835.45mn, while deals increased 45% to 24,181.
However, the real estate sector’s trade volume more than doubled to 297.63mn shares and value also more than doubled to QR289.85mn on 34% rise in transactions to 7,127.
There was 77% surge in the telecom sector’s trade volume to 28.93mn equities and 56% in value to QR75.49mn on more than doubled deals to 4,049.