Gulf, Arab funds lift sentiments; index gains 170 points
March 11 2022 08:35 PM
QSE

Strong global oil prices had its reflection in the Qatar Stock Exchange, which gained a huge 170 points in key index amidst flat capitalisation this week.
The increased buying interests of Gulf funds was visible as the 20-stock Qatar Index settled 1.26% higher this week which saw the International Monetary Fund forecasts Qatar's real economic growth to pace to 3.2% this year on the back of the North Field liquefied natural gas expansion.
The industrials, real estate and insurance counters witnessed higher than average demand this week which saw the Qatar First Bank announce its 60% rights issue to raise as much as QR504mn.
The Arab institutions were seen bullish this week which saw Milaha outline its multipronged approach to reduce operational costs and expansion of its footprint in the global supply chain.
About 66% of the traded constituents extended gains in the market this week which saw Doha Bank and Milaha find place in the 20-stock Qatar Index, effective from April 1.
The weakened net selling pressure from the domestic funds had its role in the market this week which saw a global credit rating agency Moody’s view that widening net interest margins and higher non-interest earnings emboldened the profitability in Qatar's banking sector, whose operating efficiency and capital remains strong.
The Islamic index was seen outperforming the main barometer this week, which saw a total of 177,755 Doha Bank-sponsored QETF valued at QR2.4mn change hands across 47 transactions.
The Gulf individuals’ weakened net profit booking also had its key role in supporting the market this week which saw as many as 95,594 Masraf Al Rayan-sponsored QATR worth QR285,335 trade across 35 deals.
Market capitalisation was up mere QR6mn or 0.01% to QR768.64bn, mainly on microcap segments this week, which saw the industrials and consumer goods sectors together constitute more than 71% of the trade volume.
The Total Return Index shot up 2.44%, All Share Index by 1.46% and All Islamic Index by 1.56% this week which nevertheless saw total trading volumes and value on the decline.
The industrials sector index zoomed 6.53%, realty (3.61%), insurance (1.5%) and consumer goods and services (0.04%); while telecom declined 1.07%, transport (0.35%) and banks and financial services (0.31%) this week, which saw no trading of treasury bills.
Major gainers in the main market included Qamco, Inma Holding, Salam International Investment, Qatar Cinema and Film Distribution and Medicare Group; while in the venture market, Mekdam Holding saw its shares appreciate in value this week which saw no trading sovereign bonds.
Nevertheless, Ooredoo, Qatar National Cement, Ezdan, QIIB and Medicare Group were among the losers in the main market; whereas in the juniour bourse, Al Faleh Educational Holding saw its shares depreciate in value this week.
In the main market, the industrials sector accounted for 44% of the total trade volume, consumer goods and services (27%), banks and financial services (15%), real estate (8%), and insurance, telecom and transport (2% each) this week.
In terms of value, the industrials sector’s shares 46%, banks and financial services (32%), consumer goods and services (11%), realty (5%), and transport, telecom and insurance (2% each) this week.
The Gulf institutions’ net buying increased significantly to QR353.9mn compared to QR317.55mn the week ended March 3.
The Arab funds were net buyers to the tune of QR10.63mn against net profit takers of QR8.35mn the previous week.
The domestic institutions’ net selling declined considerably to QR477.92mn compared to QR1.09bn a week ago.
The Gulf individuals’ net profit booking eased perceptibly to QR10.66mn against QR16.77mn the week ended March 3.
However, Qatari individuals’ net selling expanded drastically to QR661.32mn compared to QR607.87mn the previous week.
The Arab individuals’ net profit booking grew noticeably to QR6.84mn against QR3.47mn a week ago.
The foreign individuals were net sellers to the extent of QR6.09mn compared with net buyers of QR13.77mn the previous week.
The foreign funds’ net buying weakened substantially to QR798.38mn against QR1.4bn the week ended March 3.
Total trade volume in the main market fell 9% to 1.77bn shares, value by 18% to QR5.73bn and transactions by 21% to 90,476.
The transport sector’s trade volume plummeted 59% to 26.46mn equities, value by 56% to QR116.3mn and deals by 45% to 2,324.
There was 35% plunge in the telecom sector’s trade volume to 37.56mn stocks, 56% in value to QR97.96mn and 50% in transactions to 3,242.
The real estate sector’s trade volume tanked 34% to 147.04mn shares, value by 22% to QR258.44mn and deals by 3% to 6,186.
The banks and financial services sector reported 26% shrinkage in trade volume to 256.99mn equities, 34% in value to QR1.83bn and 34% in transactions to 30,667.
However, the insurance sector’s trade volume soared 32% to 38.5mn stocks and value by 29% to QR103.27mn, while deals shrank 50% to 1,074.
The market witnessed 4% jump in the industrials sector’s trade volume to 774.92mn shares and 4% in value to QR2.66bn but on 1% fall in transactions to 35,328.
The consumer goods and services sector’s trade volume was up 2% to 485.3mn equities, whereas value shrank 9% to QR657.24mn and deals by 7% to 10,655.
The venture market saw 45.45% contraction in trade volumes to 1.92mn stocks, 40.38% in value to QR20.23mn and 49.84% in transactions to 461.



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