The Qatar Stock Exchange lost a huge 189 points in its key barometer and QR12bn in capitalisation this week, which saw the listed companies register more than 5% year-on-year decline in their nine-month cumulative net profitability.
Insurance, industrials and banking counters witnessed higher than average selling pressure this week which saw Barwa Real Estate Group all set to strengthen its operating revenues as it embarks on several realty developments.
Foreign institutions were seen bearish, dragging the 20-stock benchmark 1.82% this week which saw Q-Chem, a subsidiary of Mesaieed Petrochemical Holding (MPHC), enhance its ethylene production by 7% by 2022 at an estimated investment of QR364mn.
However, domestic funds and local retail investors turned bullish this week which saw Qatar's trade surplus amounted to QR12.86bn in September 2019.
More than 52% of the traded constituents were in the red this week which witnessed Baladna Food Industries, a subsidiary of the proposed Baladna Food that is yet to become public, increasingly eye Horeca (hotel, restaurants and cafe) sector shore up its topline.
Islamic stocks were seen declining slower than the other indices this week which saw the QSE listed firms cumulatively report net profit of QR29.46bn in the first nine months of this year.
Trade turnover and volumes were on the increase this week which saw as many as 102,222 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR235,577 trade across 10 transactions.
The Total Return Index shrank 1.82%, Al Rayyan Islamic Index by 1.94% and All Share Index by 0.92% this week which saw a total of 45,431 Doha Bank sponsored QETF valued at QR459,507 changed hands across nine deals.
The insurance index plummeted 5.59%, industrials (3.45%), banks and financial services (2.04%) and transport (0.07%); while realty gained 1.03%, consumer goods (0.94%) and telecom (0.21%) this week which saw market capitalisation plunge 2.07% to QR563.43bn mainly on large and midcap equities.
Major losers included Industries Qatar, QNB, Commercial Bank, Alijarah Holding, Mannai Corporation, MPHC, Qatar Insurance, Qatar General Insurance and Reinsurance, Al Khaleej Takaful and Nakilat; even as QIIB, Qatar First Bank, Qatari German Company for Medical Devices, Medicare Group, Qatari Investors Group, United Development Company, Ezdan and Gulf Warehousing were among the gainers this week which saw banking, industrials and real estate constitute more than 76% of the trading volume.
The banks and financial services sector accounted for 30% of the trading volume, industrials (24%), realty (22%), consumer goods (10%), insurance (5%), and telecom and transport (4% each) this week.
In terms of value, banks and financial services accounted for 48%, industrials (17%), consumer goods (14%), real estate (7%), insurance and telecom (5% each), and transport (4%) this week.
Non-Qatari funds turned net sellers to the tune of QR77.34mn compared with net buyers of QR137.07mn a week ago.
However, domestic funds were net buyers to the extent of QR97.37mn against net sellers of QR22.27mn the previous week.
Local retail investors were also net buyers to the tune of QR5.06mn compared with net sellers of QR58.21mn a week ago.
Non-Qatari individuals’ net profit booking fell considerably to QR25.09mn against QR56.68mn the week ended October 24.
Total trade volume rose 9% to 332.25mn shares, value by 8% to QR1.03bn and transactions by 6% to 22,674.
The transport sector’s trade volume soared 31% to 14.5mn equities, value by 19% to QR41.92mn and deals by 32% to 955.
The real estate sector reported 22% surge in trade volume to 73.28mn stocks, 13% in value to QR72.83mn and less than 1% in transactions to 2,013.
The banks and financial services sector’s trade volume expanded 13% to 100.56mn shares and value by 3% to QR495.66mn, while deals were down 2% to 7,231.
There was 10% increase in the telecom sector’s trade volume to 13.93mn equities but on 3% fall in value to QR48.7mn and 2% in transactions to 1,971.
The industrials sector’s trade volume was up 7% to 79.6mn stocks, value by 23% to QR178mn and deals by 10% 5,560.
However, the consumer goods sector saw 17% plunge in trade volume to 33.15mn shares but on 13% growth in value to QR148.25mn and 24% in transactions to 3,505.
The insurance sector’s trade volume declined 6% to 17.21mn equities, value by 6% to QR47.21mn and deals by 1% to 1,439.