The Qatar Stock Exchange substantially weakened to settle at a tad above 10,200 levels as dividend concerns hit certain scrips this week.
Domestic institutions’ net profit booking pressure was seen strengthening this week which saw QNB's brand value rise nearly 20% year-on-year to $6.03bn in 2020.
Three of the five sessions reeled under selling stress this week which saw the QSE launch new website.
An across the board selling – notably within realty, transport, insurance, consumer goods and telecom – was visible this week, which saw Qatar Insurance Group report gross written premiums of QR12.8bn in 2019.
Notwithstanding the bullish outlook of foreign institutions, the 20-stock Qatar Index plunged 237 points or 2.27% this week, which saw the overall container traffic through Qatar ports amounted to 6.26mn tonnes at the end of December last year.
About 81% of the traded constituents were in the red this week which saw no trading of sovereign bonds and treasury bills.
Market capitalisation eroded QR11bn or 1.92% to QR568.35bn mainly on large and midcap equities this week which saw as many as 47,701 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR112,472 traded across 14 transactions.
Islamic stocks were seen declining faster than other conventional entities this week which saw a total of 51,884 Doha Bank sponsored QETF worth QR523,883 changed hands across 13 deals.
Trade turnover and volumes were on the increase this week which saw Ooredoo win the best company (overall) at the QSE’s 2019 IR excellence programme.
The Total Return Index declined 2.27%; Al Rayyan Islamic Index 2.12% and All Share Index 2.9% this week which saw Qatar First Bank complete the $117mn off-market acquisition of 90 North, a four-building, 262,000sqf office campus located in Bellevue, Washington.
The real estate index plummeted 5.78%, transport (5.2%), insurance (3.67%), consumer goods (3.45%), telecom (3.3%), industrials (1.78%) and banks and financial services (1.32%) this week which saw banking and realty sector together accounted for about 58% of the total volume.
Major losers included United Development Company, Gulf Warehousing, Nakilat, Ooredoo, Vodafone Qatar, Barwa, Ezdan, Mazaya Qatar, Qatar Industrial Manufacturing, Qatari Investors Group, Qatar National Cement, Gulf International Services, Mesaieed Petrochemical Holding, Doha Bank, Commercial Bank, QNB, QIIB and Dlala; even as Industries Qatar, Zad Holding and Alijarah Holding were among the gainers this week.
Domestic institutions’ net selling increased substantially to QR23.37mn against QR6.06mn the previous week.
Qataris’ net buying weakened significantly to QR13.01mn compared to QR41mn the week ended January 30.
Non-Qatari individuals’ net buying also declined perceptibly to QR4.41mn against QR6.67mn a week ago.
Foreign funds were net buyers to the tune of QR15.95mn compared with net sellers of QR41.7mn the previous week.
The banks and financial services sector accounted for 36% of total volume, realty (22%), industrials (17%), consumer goods (11%), telecom (7%), transport (4%) and insurance (3%) this week.
In terms of value, banks and financial services’ share stood at 57% of the total, industrials (13%), real estate (10%), consumer goods (8%), telecom (6%), and transport and insurance (3% each) this week.
Total trade volume rose 9% to 373.66mn shares, value by 29% to QR1.13bn and transactions by 35% to 29,458.
The insurance sector’s trade volume soared 43% to 11.08mn equities, value by 51% to QR28.93mn and deals by 47% to 1,105.
There was 42% surge in the transport sector’s trade volume to 14.34mn stocks, 28% in value to QR37.74mn and 61% in transactions to 1,080.
The telecom sector’s trade volume shot up 40% to 27.72mn shares, value by 36% to QR64.32mn and deals by 60% to 2,760.
The banks and financial services sector saw 11% increase in trade volume to 134.48mn equities, 39% in value to QR644.45mn and 39% in transactions to 13,326.
The industrials’ sector’s trade volume grew 9% to 63.2mn stocks, value by 1% to QR149.7mn and deals by 33% to 5,513.
There was 6% jump in the real estate sector’s trade volume to 81.09mn shares, 42% in value to QR113.05mn and 7% in transactions to 2,540.
However, the consumer goods sector’s trade volume fell 15% to 41.75mn equities, whereas value was up 4% to QR93.14mn and deals by 27% to 3,134.