The Qatar Stock Exchange closed the week of a higher note despite the global concerns of rising inflation and hardening interest rates.
A higher than average demand at the transport and real estate counters led the 20-stock Qatar Index gain 98 points or 0.77% this week which saw Masraf Al Rayan complete its operational integration after merging Al Khaliji.
The foreign individuals were seen net buyers this week which saw Investment Holding Group’s regulatory filing that showed its planned multiple projects in various sectors.
The domestic funds’ weakened net selling pressure also had its influence in the market this week which saw global credit rating agency Moody's assign a foreign currency senior unsecured programme rating of ‘(P)Aa3’ to Qatar government's global medium-term note programme.
About 59% of the traded constituents in the main market extended gains this week which saw Qatar’s trade surplus more than double year-on-year to QR34.18bn in April 2022.
The Islamic benchmark was seen gaining slower than the main barometer this week which saw a total of 0.31mn Doha Bank-sponsored exchange traded fund QETF valued at QR3.93mn change hands across 74 transactions.
The overall trading and turnover in the main market were on the decline this week, which saw as many as 0.08mn Masraf Al Rayan-sponsored QATR worth QR0.23mn trade across 22 deals.
The venture market witnessed weakened trading this week which saw which saw the banks and industrials sectors together constitute about 60% of the trade volume.
Market capitalisation was seen gaining more than QR2bn or 0.32% to QR718.04bn, mainly on microcap segments this week, which saw no trading of sovereign bonds.
The Total Return Index gained 0.77%, All Share Index by 0.46% and All Islamic Index by 0.55% this week which saw no trading of treasury bills.
The transport sector index soared 3.75%, realty (1.51%), banks and financial services (0.59%) and industrials (0.16%); while insurance declined 1.53%, telecom (1.3%) and consumer goods (0.94%) this week.
Major gainers in the main market included Gulf Warehousing, Dlala, Nakilat, Al Khaleej Takaful, Qatar Industrial Manufacturing, Qatar Islamic Bank, Commercial Bank, Doha Bank, Ahlibank Qatar, Masraf Al Rayan, Qatar Islamic Insurance, QLM and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value this week.
Nevertheless, Qatar General Insurance and Reinsurance, Investment Holding Group, Qatar Insurance, Salam International Investment, Qatar Electricity and Water, Qamco, Vodafone Qatar and Ooredoo were among the shakers in the main market this week.
In the main market, the banks and financial services sector accounted for 31% of the total trade volume, industrials (29%), consumer goods and services (16%), real estate (10%), transport (7%), insurance (4%) and telecom (3%) this week.
In terms of value, the banks and financial sector’s share was 60%, industrials (18%), consumer goods and services (7%), transport (6%), and telecom, realty and insurance (3% each) this week.
The foreign individuals were net buyers to the tune of QR8.72mn compared with net sellers of QR4.02mn a week ago.
The domestic funds’ net selling decreased substantially to QR163.48mn against QR525.94mn the week ended May 19.
The Gulf funds’ net selling declined perceptibly to QR66.34mn compared to QR74.48mn the previous week.
The Gulf individuals were net buyers to the extent of QR0.82mn against net sellers of QR2.66mn a week ago.
However, Qatari individuals turned net sellers to the tune of QR149.97mn compared with net buyers of QR16.43mn the week ended May 19.
The Arab individuals turned net sellers to the extent of QR7.76mn against net buyers of QR0.46mn the previous week.
The Arab funds’ net profit booking strengthened marginally to QR0.29mn compared to QR0.09mn a week ago.
The foreign funds’ net buying weakened markedly to QR378.29mn against QR590.31mn the week ended May 19.
Total trade volume in the main market fell 37% to 588.51mn shares, value by 32% to QR2.73bn and transactions by 26% to 90,974.
The market witnessed 59% plunge in the consumer goods and services sector’s trade volume to 96.77mn equities, 55% in value to QR190.38mn and 52% in deals to 5,035.
The banks and financial services sector’s trade volume plummeted 37% to 180.21mn stocks, value by 31% to QR1.62bn and transactions by 29% to 52,316.
There was 36% shrinkage in the industrials sector’s trade volume to 172.07mn shares, 43% in value to QR502.91mn and 33% in deals to 15,272.
The real estate sector’s trade volume tanked 22% to 56.66mn equities, value by 18% to QR79.54mn and transactions by 3% to 3,530.
The telecom sector reported 19% contraction in trade volume to 19.84mn stocks and 10% in value to QR94.33mn but on 19% jump in deals to 6,825.
The insurance sector’s trade volume was down 10% to 24mn shares, whereas value was up 5% to QR78.38mn and transactions by 4% to 2,337.
However, the transport sector saw 45% surge in trade volume to 38.95mn equities, 49% in value to QR159.12mn and 31% in deals to 5,659.
In the venture market, trade volumes were seen declining 53.96% to 0.64mn stocks, value by 58.7% to QR3.75mn and transactions by 53.5% to 266.