Posted on November 08, 2014
A precipitous fall intra-week notwithstanding, the Qatar Stock Exchange landed in the positive trajectory, the only bourse to do so in the Gulf region, mainly on local retail investors’ buying support, during the week. Strong buying interests in the industrials, transport and insurance largely overcame the selling pressure in the telecom and banking sectors which saw the market rise 0.68% during the week. Barwa Real Estate had said that its full acquisition of Lusail Golf Development was expected to be completed soon, Gulf Times has said.
In comparison, Saudi Arabia plunged 3.84%, Kuwait (3.08%), Dubai (3.06%), Abu Dhabi (1.46%), Muscat (0.77%) and Bahrain (0.22%) during the week in which Mannai HED and QNB partnered to provide finance solutions to heavy equipment customers. Qatar’s bourse has gained 30.93% year-to-date against Dubai’s 30.75%, Bahrain (15.38%), Saudi Arabia (13.05%), Abu Dhabi (11.65%) and Muscat (1.27%), while Kuwait fell 5.5%. Small and mid stocks were seen emerging the most favourites in the upward rally during the week that saw foreign institutions being bullish but with lesser vigour.
Industrials stocks gained 2.31%, transport (1.76%), insurance (1.35%), consumer goods (0.87%) and realty (0.53%), but telecom plunged 3.73% and banks and financial services (0.06%). The index that tracks Shariah-principled stocks was seen gaining much slower than the other indices during the week that saw realty, banks and telecom together account for about 70% of the total trade volume. The 20-stock Total Return Index rose 0.68%, All Share Index (comprising wider constituents) by 0.64% and Al Rayan Islamic Index by 0.16% during the week, which saw Ezdan, Barwa and Masraf Al Rayan dominate the trading ring in terms of both volume and value.
Of the 43 stocks, 23 advanced, while 19 declined and one was unchanged during the week. Six of the nine industrials, five each of the 12 banks and financial services as well as the five insurers, four of the eight consumer goods, two of the three transport and one of the four real estate stocks closed higher during the week. Major gainers included QNB, Industries Qatar, Islamic Holding, Gulf International Services, Barwa, Widam Food, Al Meera, Mesaieed Petrochemical Holding and Nakilat.

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However, Ooredoo, Vodafone Qatar, Qatar Islamic Bank, International Islamic, Untied Development Company, Mazaya Qatar, Gulf Warehousing and Zad Holding bucked the trend. Market capitalisation was up 0.76% or about QR6bn to QR733.84bn during the week. Small, mid, micro and large cap equities were seen gaining 1.03%, 0.86%, 0.54% and 0.24% respectively. Micro, small, mid and large cap equities are up 46.23%, 33.95%, 28% and 25.12% respectively year-to-date.
Foreign institutions’ net buying sunk to QR67.31mn against QR164.52mn the previous week. Domestic institutions turned net sellers to the tune of QR3.82mn compared with net buyers of QR114.67mn during the week that ended on October 30. Non-Qatari individual investors’ net profit booking rose to QR45.56mn against QR43.59mn during the week that ended on October 30. Local retail investors’ net selling plummeted to QR17.64mn compared to QR235.99mn the previous week.
A total of 60.1mn shares valued at QR2.94bn changed hands across 30,307 transactions. The real estate sector saw a total of 22.65mn equities worth QR625.05mn trade across 6,304 deals. As many as 11.19mn banks and financial services stocks valued at QR960.51mn changed hands across 9,131 transactions. A total of 5.21mn consumer goods stocks valued at QR230.34mn traded across 2,136 deals. The telecom sector saw 8.08mn equities worth QR220.27mn change hands across 2,487 transactions.
The industrials and transport segments recorded 6.14mn and 4.04mn shares worth QR577.81mn and QR185.17mn trade across 6,888 and 2,109 deals respectively. A total of 2.79mn insurance equities valued at QR140.25mn changed hands across 1,252 transactions. In the debt market, a total of 25,000 treasury bills valued at QR248.96mn traded across three deals, while there was no trading of government bonds during the week.