Foreign funds were seen bearish and there was weakened buying interests from their domestic counterparts on the Qatar Stock Exchange this week, which saw global credit rating agency Fitch affirm the country’s long-term foreign-currency issuer default rating at ‘AA-‘ with a “stable” outlook.
The Gulf individuals continued to be net buyers but with less intensity this week which saw QTerminal, in which Milaha has equity stake, disclose that the second container terminal at the Hamad Port will be up and running by the end of fourth quarter of this year.
Six of the seven sectors witnessed modest to robust selling pressure this week which saw an Ernst and Young highlight that the Middle East and North African executives expect strong appetite for mergers and acquisitions in the region.
The industrials sector experienced higher-than-average selling pressure as the 20-stock Qatar Index plummeted 1.45% this week, which saw Qatar report weakening of industrial production in April this year.
The Gulf funds were increasingly net buyers and foreign individuals turned net buyers this week which saw a Kamco-Invest report that found the Gulf Islamic banks to be less affected by Covid-19 than their conventional counterparts.
The Total Return Index shrank 1.45%, Al Rayan Islamic Index by 1.32% and All Share Index by 0.63% this week this which saw as many as 81,454 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR168,829 changed hands across 10 transactions.
Market capitalisation saw more than QR4bn or 0.81% decline to QR524.93bn, mainly on small and midcap segments this week, which saw a total of 46,472 Doha Bank-sponsored QETF worth QR423,058 traded across 12 deals.
The industrials sector tanked 2.1%, telecom (1.28%), consumer goods and services (0.76%), banks and financial services (0.63%), real estate (0.15%) and insurance (0.1%); while transport gained 0.5% this week which saw the market breadth hang in almost balance.
Major losers included Industries Qatar, Mesaieed Petrochemical Holding, QIIB, Ooredoo, Qatar Electricity and Water, Qatar Islamic Bank, Doha Bank and Woqod; even as Qatari Investors Group, Qatar National Cement, Qatar Industrial Manufacturing, Qamco, Aamal Company, Mazaya Qatar, Dlala, Islamic Holding Group, Medicare Group, Al Khaleej Takaful and Nakilat were among the gainers this week which saw consume goods, industrials and realty together account for about 77% of total trading volume.
Trade turnover declined amidst higher volumes this week which saw the consumer goods and services account for 31% of the total trading volume, industrials and real estate (23%), banks and financial services (17%), insurance and transport (3% each), and telecom (1%) this week.
In value, the banks and financial sector’s share was 33%, consumer goods and services (22%), realty (18%), industrials (17%), transport (5%), insurance (3%) and telecom (2%) this week.
Foreign funds turned net sellers to the tune of QR20.03mn compared with net buyers of QR17.35mn a week ago.
The Arab funds were also net sellers to the extent of QR0.12mn against net buyers of QR0.29mn the previous week.
Domestic funds’ net buying decreased significantly to QR24.25mn compared to QR84.06mn the week ended June 18.
The Gulf individuals’ net buying also shrank notably to QR0.35mn against QR1.03mn a week ago.
However, the Gulf funds’ net buying grew extensively to QR20.21mn compared to QR6.61mn the previous week.
Foreign individuals turned net buyers to the tune of QR1.05mn against net sellers of QR0.62mn the week ended June 18.
Local retail investors’ net selling eased substantially to QR24.07mn compared to QR98.93mn a week ago.
The Arab individuals’ net profit booking shrank perceptibly to QR2.11mn against QR9.5mn the previous week.
Total trading volume rose 17% to 1.29bn shares, while value fell 16% to QR1.78bn despite 1% higher transactions at 41,137.
The consumer goods sector’s trade volume more than doubled to 396.91mn equities, value soared 56% to QR383.46mn and deals by 51% to 9,172.
There was 17% surge in the industrials sector’s trade volume to 298.32mn stocks but on 19% decline in value to QR292.66mn, despite 2% higher transactions at 8,697.
The transport sector’s trade volume shot up 11% to 32.44mn shares, value by 9% to 92.37mn and deals by 12% to 2,092.
The banks and financial services sector saw 4% growth in trade volume to 222.3mn equities but on 28% shrinkage in value to QR576.97mn and 13% in transactions to 11,377.
However, the telecom sector’s trade volume plummeted 36% to 13.66mn stocks, value by 27% to QR37.85mn and deals by 13% to 1,591.
The real estate sector reported 25% plunge in trade volume to 295.49mn shares, 30% in value to QR318.09mn and 10% in transactions to 7,071.
The insurance sector’s trade volume was down 7% to 32.58n equities, value by 16% to QR55.69mn and deals by 27% to 1,137.