The Qatar Stock Exchange witnessed strong rebound, especially in the last three sessions, to overall settle 87 points higher this week which saw QNB brokerage QNBFS licensed as liquidity provider.
Domestic and foreign institutions were seen net buyers this week which saw the Commercial Bank’s financial intermediary launch margin trading.
Transport, telecom and banking counters witnessed higher than average demand this week which saw Qatar Electricity and Water Company report QR1.41bn net profit in 2019.
The market had seen corrections in the first two sessions to touch a low of 9,700 points, after which it was on a gaining spree to finally settle 0.89% higher at 9,934 points this week which saw Nakilat’s 2019 net profit surpass QR1bn.
More than 51% of the traded constituents extended gains this week which saw Mesaieed Petrochemical Holding report QR1.2bn net profit in 2019.
Non-Qatari individuals were also seen marginally bullish this week which saw Doha Bank register QR754mn net profit in 2019.
However, local retail investors were seen net profit takers this week which saw Aamal Company’s 2019 net profit at QR322mn.
Market capitalisation rose 0.37% or about QR2bn to QR549.48bn this week which saw no trading of sovereign bonds and treasury bills.
Mid and small caps experienced brisk demand this week which saw as many as 257,962 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.56mn traded across 44 transactions.
Islamic stocks were seen gaining slower than other conventional entities this week which saw a total of 175,605 Doha Bank sponsored QETF worth QR1.71bn changed hands across 43 deals.
The Total Return Index gained 0.89%; Al Rayyan Islamic Index 0.64% and All Share Index 0.74% this week.
The transport index shot up 5.66%, telecom (2.27%), banks and financial services (1.24%), real estate (0.53%) and consumer goods (0.38%); whereas industrials and insurance declined 1.92% and 0.47% respectively this week.
Major gainers included Milaha, Nakilat, Gulf Warehousing, Ooredoo, United Development Company, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Qatar Electricity and Water and Vodafone Qatar; while Mazaya Qatar, Ezdan, Doha Bank, Qatar Oman Investment, Industries Qatar, Aamal Company and Gulf International Services were among the losers this week.
Domestic and foreign institutions were net buyers to the tune of QR110.85mn and QR27.62mn respectively.
Although non-Qatari individuals were also net buyers to the extent of QR0.87mn, local retail investors were seen net profit takers to the extent of QR139.34mn.
A total of 479.72mn shares valued at QR1.25bn changes hands across 32,022 transactions.
The real estate sector saw as many as 156.69mn equities worth QR177.01mn trade across 6,400 deals.
A total of 130.09mn banks and financial services stocks valued at QR609.59mn changed hands across 10,683 transactions.
The industrials sector witnessed as many as 94.77mn shares worth QR208.87mn traded across 6,082 deals.
In the case of consumer goods and services, the sector reported a total trade volume of 55.12mn equities; value was QR102.16mn and transactions at 2,914.
Transport and telecom sectors saw a total of 18.34mn and 16.05mn stocks valued at QR51.58mn and QR79.65mn changed hands across 1,844 and 3,531 deals respectively.