The Qatar Stock Exchange (QSE) witnessed strong buying interest for most part of the week and its key index gained more than 208 points to inch near the 10,500 levels.
Foreign institutions were increasingly net buyers this week which saw time and savings deposits of public sector in Qatar’s commercial banks register a huge 41% year-on-year expansion in July 2019.
The weakened net selling pressure from local and non-Qatari individual investors also helped the market, reflecting in a 2.03% surge in the main index this week which saw Qatar witness a seasonal downward pressure in the construction sector in August with it reporting slowdown month-on-month in the new building permits issued in August this year.
Realty, insurance, telecom and consumer goods counters witnessed higher than average demand this week which saw the conventional stock brokerage houses – The Group Securities and QNBFS (a subsidiary of QNB) together account for more than 56% of total share trade turnover in January-August 2019.
However, there was weakened net profit booking pressure from domestic funds this week which saw as many as 97,300 sovereign bonds valued at QR973mn change hands across one transaction.
Islamic stocks were seen gaining slower than the other indices this week which saw no trading of treasury bills.
Trade turnover and volumes were on the increase this week which saw as many as 35,429 Masraf Al Rayan sponsored exchange traded fund QATR worth QR0.08mn trade across 19 deals.
The Total Return Index shot up 2.03%, Al Rayan Islamic Index (Price) by 1.42% and All Share Index by 2.6% this week which saw a total of 6,902 Doha Bank sponsored QETF valued at QR0.7mn change hands across six transactions.
Market capitalisation grew more than QR13bn or 2.35% to QR578.61bn mainly on large and midcap equities this week which saw Barwa Real Estate Company announce the completion of its Al Baraha project comprising workshops and warehouses.
The realty index zoomed 10.15%, insurance (6.76%), telecom (6.44%), consumer goods (2.9%), industrials (1.89%) and banks and financial services (1.15%); while transport declined 0.27% this week which saw Ahlibank Qatar announce its euro medium term note programme as part of efforts to strengthen its capital base.
Major gainers included Ezdan, Qatar Insurance, Al Khaleej Takaful, Mazaya Qatar, Ooredoo, Commercial Bank, QIIB, Masraf Al Rayan, Alijarah Holding, Qatari Investors Group, Woqod and Qatar Aluminum Manufacturing; even as Qatar Islamic Bank, Doha Bank, Islamic Holding Group, Zad Holding, Qatar General Insurance and Reinsurance and Milaha this week which saw banking, real estate and industrials stocks constitute about 87% of the trading volume.
The banks and financial services sector accounted for 36% of the trading volume, real estate (32%), industrials (17%), telecom and transport (5% each), and insurance and consumer goods (2% each) this week.
In terms of value, banks and financial services accounted for 45%, industrials (15%), realty (13%), telecom (9%), transport and consumer goods (8% each), and insurance (2%) this week.
Non-Qatari funds’ net buying increased considerably to QR47.98mn against QR40.58mn the week ended September 5.
Local retail investors’ net profit booking fell noticeably to QR65.29mn compared to QR114.28mn a week ago.
Non-Qatari individuals’ net selling weakened significantly to QR0.53mn against QR11.42mn the previous week.
However, domestic funds’ net buying shrank substantially to QR17.98mn compared to QR85.12mn a week ago.
Total trade volume grew 80% to 644.2mn shares, value by 17% to QR1.32bn and transactions by 20% to 35,839.
The industrials sector’s trade volume more than doubled to 110.02mn equities, value soared 31% to QR202.29mn and deals by 33% to 8,887.
The banks and financial services sector’s volume almost doubled to 233.38mn stocks and value rose 2% to QR595.63mn but on 1% fall in transactions to 10,064.
The real estate sector saw 93% surge in trade volume to 214.17mn shares, 72% in value to QR167.48mn and 18% in deals to 6,681.
The telecom sector’s trade volume shot up 84% to 32.44mn equities and value more than doubled to QR114.43mn on more than doubled transactions to 4,663.
There was 20% expansion in the transport sector’s trade volume to 31.99mn stocks, 43% in value to QR105.41mn and 40% in deals to 1,835.
However, the insurance sector’s trade volume plummeted 47% to 10.63mn shares, value by 42% to QR30.94mn and transactions by 36% to 1,188.
The consumer goods sector saw 23% plunge in trade volume to 11.57mn equities and 7% in value to QR105.51mn but on 26% growth in deals to 2,521.