Four of the five days witnessed modest to strong buying interests in the Qatar Stock Exchange, thus helping it settle above 10,250 levels this week which saw Qatar Financial Market Authority outline detailed timetable for implementing stock split.
Foreign institutions were increasingly net buyers this week which saw QNB report QR3.6bn net profit in the first quarter of this year.
Non-Qatari individual investors were seen bullish, thus helping the 20-stock Qatar Index gain as much as 70 points this week which witnessed Ezdan Holding Group contemplate nullifying its earlier proposal to delist from the bourse.
Real estate, banking and telecom counters witnessed higher than average demand this week which saw the listed companies have time from June 9 until July 7 to enforce stock split, through which the nominal value of a share will become QR1 per share instead of the present value of QR10.
Nevertheless, domestic funds turned net profit takers this week which saw International Construction Market Survey 2019 predict that the construction activity in Qatar expected to pick up as the World Cup deadline looms and pressure builds to finish the stadiums.
More than 54% of the traded constituents extended gains this week which saw as many as 11,629 Masraf Al Rayan sponsored exchange traded funds QATR valued at QR0.29mn trade across 16 deals.
Major gainers included Ezdan, Mazaya Qatar, QNB, Qatar Islamic bank, Ahlibank Qatar, Al Khaliji, Qatar First Bank, Alijarah Holding, Salam International Investment, Qatar Electricity and Water and Industries Qatar; while Nakilat, Mesaieed Petrochemical Holding, Qatar Insurance, Al Khaleej Takaful, Islamic Holding Group, Widam Food and Mannai Corporation were among the losers this week which saw a total of 150 Doha Bank sponsored QETF valued at QR0.02mn change hands across one transaction.
Islamic stocks were seen gaining faster than the main barometer in the market, which saw local retail investors continued to be net seller but with lesser intensity.
The Total Return Index gained 0.68%, All Share Index by 1.76% and Al Rayan Islamic Index (Price) by 0.96% this week which saw market capitalisation gained about QR8bn to QR574.84bn.
The realty index soared 7.99%, banks and financial services (2.06%), telecom (1.53%) and industrials (0.01%); while insurance, transport and consumer goods declined 2.94%, 2.06% and 0.06% respectively this week which saw real estate, banks and industrials segments together account for about 85% of total trade volume.
The realty sector accounted for 33% of the total volume, banks and financial services (27%), industrials (24%), telecom (9%), consumer goods (3%), and insurance and transport (2% each) this week.
In terms of value, banks and financial services’ share were 33%, industrials and real estate (23% each), consumer goods (8%), telecom (7%), and insurance and transport (3% each) this week.
Foreign institutions’ net buying increased substantially to QR118.51mn compared to QR21.74mn a week ago.
Non-Qatari individuals turned net buyers to the tune of QR6.68mn against net sellers of QR3.07mn the previous week.
Local retail investors’ net selling declined marginally to QR45.89mn compared to QR46.84mn the week ended April 4.
However, domestic funds turned net profit takers to the extent of QR79.3mn against net buyers of QR28.16mn a week ago.
Total trade volume grew 13% to 72.43mn shares, while value declined 8% to QR1.29bn and transactions by 1% to 29,322 this week.
The telecom sector’s trade volume soared 57% to 6.21mn equities, value by 49% to QR95.96mn and deals by 20% to 2,525.
The real estate sector reported 48% surge in trade volume to 24.13mn stocks, 37% in value to QR291.23mn and 22% in transactions to 7,815.
The consumer goods sector’s trade volume shot up 23% to 2.4mn shares, while value shrank 45% to QR99.13mn despite 3% higher deals at 1,719.
There was 18% increase in the industrials sector’s trade volume to 17.34mn equities but on 5% fall in value to QR292.75mn despite 9% higher transactions at 9,689.
However, the transport sector’s trade volume plummeted 72% to 1.3mn stocks, value by 67% to QR44.21mn and deals by 54% to 825.
The market witnessed 33% plunge in the insurance sector’s trade volume to 1.31mn shares, 45% in value to QR33.28mn and 22% in transactions to 1,011.
The banks and financial sector’s trade volume was down 4% to 19.74mn equities, value by 2% to QR428.75mn and deals by 21% 5,738.