The strengthened global energy market and the first quarter financials of certain entities had its positive influence on the Qatar Stock Exchange which saw addition of 291 points in its key barometer and QR16bn in capitalisation this week.
Domestic and Arab funds were increasingly bullish this week, which saw Barwa disclose its plans to construct eight schools across Qatar as part of the country’s public private partnership, the first of its kind in the social infrastructure.
The weakened net selling by foreign institutions also had its role on the market this week which saw Ooredoo Group’s net profit at QR387mn in the first quarter (Q1) of this year.
The Gulf individuals were seen net buyers, albeit at lower levels, this week which Barwa and Aamal Company report QR177mn and QR82.5mn net profit respectively in Q1 2020.
The real estate, transport, industrials and telecom counters witnessed higher than average demand this week which saw Al Meera and Gulf Warehousing report net profit of QR50.55mn and QR50.3mn respectively in Q1 2020.
The increased net selling by local retail investors notwithstanding, the 20-stock Qatar Index soared 3.43% this week which saw the Q1 2020 net profit of Al Khaleej Takaful and Qatar General Insurance and Reinsurance at QR16.19mn and QR11.23mn respectively.
The Total Return Index shot up 3.43%, Al Rayan Islamic Index by 4.56% and All Share Index by 3.18% this week which saw as many as 487,791 Masraf Al Rayan sponsored exchange traded funds QATR worth QR939,671 change hands across 22 transactions.
The realty index surged 10.22%, transport (7.13%), industrials (5.4%), telecom (4.84%), banks and financial services (2.03%), consumer goods and services (1.64%) and insurance (0.08%) this week which saw a total of 16,710 Doha Bank sponsored QETF valued at QR143,531 trade across eight deals.
More than 91% of the traded constituents extended gains with major movers being United Development Company, Mazaya Qatar, Ezdan, Barwa, Milaha, Nakilat, Gulf Warehousing, Industries Qatar, Aamal Company, Qatar Electricity and Water, Qatar National Cement, Dlala, Qatar Oman Investment, Islamic Holding Group, Doha Bank, Masraf Al Rayan, Commercial Bank, QNB and Baladna; while Qatar Insurance and Qatar First Bank were among the losers this week which saw Baladna and Qamco’s Q1 2020 net profit at QR39.7mn and QR10.7mn respectively.
Market capitalisation saw 3.42% expansion to QR493.84bn mainly triggered by large cap segments this week which saw Gulf International Services record net profit of QR8.7mn in Q1 2020.
Trade turnover and volumes were on the increase this week which saw real estate sector account for about 50% of the total trading volume, industrials (16%), consumer goods (15%), banks and financial services (12%), transport and telecom (3% each), and insurance (1%).
In value, banks and financial services’ share was 28%, real estate (28%), consumer goods (16%), industrials (15%), transport (7%), telecom (5%) and insurance (2%) this week.
Domestic funds’ net buying grew considerably to QR195.89mn compared to QR111.11mn the previous week.
The Arab institutions’ net buying increased noticeably to QR5.97mn against QR17mn the week ended April 23.
The Gulf individuals turned net buyers to the tune of QR1.99mn compared with net sellers of QR8.28mn a week ago.
Foreign funds’ net selling declined substantially to QR52.87mn against QR111.11mn the previous week.
The Arab individuals’ net selling also fell perceptibly to QR4.71mn compared to QR16.56mn the week ended April 23.
However, local retail investors' net profit booking grew significantly to QR169.1mn against QR28.65mn a week ago.
Foreign individuals were net sellers to the extent of QR2.9mn compared with net buyers of QR10.43mn the previous week.
The Gulf institutions’ net buying eased influentially to QR25.71mn against QR43.05mn the week ended April 23.
Total trading volume rose 36% to 1.38bn shares and value by 9% to QR1.81bn while transactions were down 1% to 49,622.
The banks and financial services sector’s trade volume shot up 65% to 171.83mn equities and value by 1% to QR506.27mn, while deals fell 5% to 16,451.
There was 43% surge in the industrials sector’s trade volume to 217.61mn stocks and 12% in value to QR272.5mn but on 16% decline in transactions to 7,091.
The real estate sector’s trade volume soared 39% to 685.36mn shares, value by 34% to QR512.36mn and deals by 14% to 9,913.
The telecom sector reported 38% expansion in trade volume to 34.7mn equities, value by 75% to QR87.43mn and transactions by 42% to 3,675.
The consumer goods sector’s trade volume gained 31% to 210.54mn stocks, while value was down 1% to QR282.62mn and deals by 7% to 6,975.
However, the transport sector reported 29% plunge in trade volume to 43.22mn shares and value by 25% to 119.42mn, while transactions rose 4% to 4,067.
The insurance sector’s trade volume was down 9% to 15.35mn equities, value by 15% to QR29.84mn and deals by 9% to 1,450.