The net buying interests of foreign and domestic funds were seen weakening substantially on the Qatar Stock Exchange this week, which settled a tad below the 10,000 levels.
The banking and industrials counters witnessed higher than average selling pressure this week which saw QNB report QR9.5bn net profit in the first nine months (9M) of this year.
About 66% of the traded constituents were in the red this week which saw Qatar Islamic Bank’s 9M net profit at QR2.2bn.
Trading volume and value were on the decline this week which saw Woqod report net profit of QR428.73mn in January-September this year.
The Gulf institutions and foreign individuals were seen net profit takers as the 20-stock Qatar Index settled 0.33% lower this week which saw Ezdan’s 9M net profit at QR208.6mn.
Local and Arab retail investors continued to be net sellers but with lesser intensity this week which saw 12,682 Masraf Al Rayan-sponsored exchange traded funds QATR valued at QR29,804 trade across six transactions.
The Gulf individuals turned marginally this week which saw a total of 125,060 Doha Bank-sponsored QETF valued at QR1.23mn change hands across 15 deals.
Market capitalisation saw mere QR5mn or 0.01% slip to QR595.61bn, mainly on microcap segment this week which saw QNBFS enter into agreement with QNB to provide liquidity provision for the latter.
The Total Return Index declined 0.33%, the All Share Index by 0.49% and Al Rayan Islamic Index by 0.26% this week which saw Qatar’s consumer price index inflation edge up 0.27% month-on-month in September 2020.
The banks and financial services group index shrank 0.81%, industrials (0.75%) and transport (0.22%); while insurance shot up 3.23%, real estate (0.41%) and telecom (0.02%). The consumer goods and services treaded a flat path this week.
Major losers included Qatari German Medical Devices, Mazaya Qatar, Investment Holding, Qatar First Bank, Qatar Oman Investment, QNB, Qatar Islamic Bank, Alijarah Holding, Medicare Group, Industries Qatar, Aamal Company, Qatar Industrial Manufacturing and Gulf Warehousing; even as Qatar General Insurance and Reinsurance, Ezdan, Qamco, Commercial Bank, Doha Bank and Qatar Insurance were among the gainers this week which saw industrials and realty sectors together account for about 57% of total trading volume.
The industrials sector accounted for 38% of the total trading volume, consumer goods and services (23%), real estate (19%), banks and financial services (14%), transport (3%), insurance (2%) and telecom (1%) this week.
In value, the banks and financial sector’s share was 30%, industrials (22%), real estate (21%), consumer goods and services (17%), transport (5%), insurance (3%) and telecom (2%) this week.
Foreign funds’ net buying declined substantially to QR50.32mn compared to QR79.04mn the week ended October 8.
Domestic institutions’ net buying weakened significantly to QR51.86mn against QR64.43mn the previous week.
The Gulf funds turned net sellers to the tune of QR5.49mn compared with net buyers of QR9.96mn a week ago.
Foreign individuals were net sellers to the extent of QR5.27mn against net buyers of QR6.31mn the week ended October 8.
However, Qatari individuals’ profit booking fell considerably to QR98mn compared to QR138.82mn the previous week.
The Gulf individuals turned net buyers to the tune of QR6.81mn against net sellers of QR3.32mn a week ago.
The Arab individuals’ net selling eased markedly to QR0.44mn compared to QR14.94mn the week ended October 8.
The Arab institutions’ net profit booking fell marginally to QR0.02mn against QR0.1mn the previous week.
Total trading volume fell 34% to 1.24bn shares, value by 34% to QR2.2bn and transactions by 28% at 41,466.
The telecom sector’s trade volume plummeted 73% to 17.42mn equities, value by 63% to QR49.21mn and deals by 58% to 1,814.
The banks and financial services sector reported 68% plunge in trade volume to 171.7mn stocks, 46% in value to QR648.21mn and 36% in transactions to 19,979.
The real estate sector’s trade volume tanked 53% to 237.13mn shares, value by 49% to QR464.67mn and deals by 32% to 8,034.
There was 49% shrinkage in the insurance sector’s trade volume to 28.9mn equities, 47% in value to QR61.56mn and transactions by 43% to 1,493.
The transport sector’s trade volume shrank 7% to 34.4mn stocks, value by 25% to QR112.19mn and deals by 33% to 2,039.
The industrials sector saw 2% dip in trade volume to 469.79mn shares but on 1% growth in value to QR487.62mn despite 11% lower transactions at 10,395.
However, the consumer goods sector’s trade volume soared 38% to 281.76mn equities and value by 13% to QR373.78mn; whereas deals were down 6% to 6,712.