(MENAFN- Gulf Times) Domestic institutions' strong buying interests gave an 87-point thrust to the Qatar Stock Exchange (QSE) and placed its key barometer at 9,300 plus altitude this week, which featured Qatar secure sixth position among 63 most developing economies in terms of economic performance.
The positive buildup, especially in the later part of the session, was owing to global sentiments ahead of the Organisation of the Petroleum Exporting Countries' meeting to discuss the future output strategy.
Foreign funds were seen bullish this week which saw the QSE chief executive Rashid bin Ali al-Mansoori disclose about an impending initial public offer from a local company with strong capital.
The banking, transport and real estate counters witnessed higher than average demand this week which saw Qatar's consumer price index inflation decline in May this year.
Strong selling in the insurance sector notwithstanding, the 20-stock Qatar Index settled 0.94% higher at 9,320 points. Opening the week weak, the index had touched a low of 9,134 points on Monday (June 15) but rebounded for the rest of the trading sessions.
The Gulf individuals' net buying grew and there was weakened net selling pressure from their foreign counterparts this week which saw a PricewaterhouseCooper report that said private sector non-oil sector in the Middle East are expected to rebound in 2021.
The Total Return Index gained 0.94%, Al Rayan Islamic Index by 1.25% and All Share Index by 0.95% this week this which saw as many as 239,944 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR494,210 changed hands across 13 transactions.
Market capitalisation saw about QR6bn or 1.14% expansion to QR529.21bn mainly on small and microcap segments this week which saw a total of 53,910 Doha Bank-sponsored QETF worth QR486,717 traded across 13 deals.
The banks and financial services index shot up 1.4%, transport (1.35%), realty (1.23%), industrials (0.74%), telecom (0.38%) and consumer goods and services (0.1%); while that of insurance plunged 4.02% this week which saw about 66% of the traded stocks extend gains.
Major gainers included QIIB, QNB, Dlala, Qatar First Bank, Alijarah Holding, Qatar Oman Investment, Nakilat, Gulf Warehousing, Ezdan, Barwa, Aamal Company, Qatari Investors Group, Qamco, Baladna, Salam International Investment, Widam Food and Vodafone Qatar this week which saw global credit rating agency Standard and Poor's affirm Al Khaleej Takaful's ‘BBB' rating with a 'stable outlook.
Nevertheless, Mannai Corporation, Islamic Holding Group, Commercial Bank, Medicare Group, Qatar National Cement, Gulf International Services, Qatar Insurance, Al Khaleej Takaful and Milaha were among the losers this week.
Trade turnover and volumes were on the increase this week which saw the real estate sector account for 36% of the total trading volume, industrials (23%), banks and financial services (19%), consumer goods and services (14%), transport and insurance (3% each) and telecom (2%) this week.
In value, the banks and financial sector's share was 39%, realty (22%), industrials (17%), consumer goods and services (12%), transport (4%), and insurance and telecom (3% each) this week.
Domestic institutions' net buying increased significantly to QR84.06mn against QR2.49mn the previous week.
Foreign funds turned net buyers to the tune of QR17.35mn compared with net sellers of QR4.31mn a week ago.
The Gulf individuals' net buying increased notably to QR1.03mn against QR0.17mn the week ended June 11.
The Arab funds turned net buyers to the tune of QR0.29mn compared with net sellers of QR0.33mn the previous week.
Foreign individuals' net profit booking declined considerably to QR0.62mn against QR4.48mn a week ago.
However, local retail investors' net selling grew substantially to QR98.93mn compared to QR9.29mn the week ended June 11.
The Arab individuals' net profit booking rose perceptibly to QR9.5mn against QR7.63mn the previous week.
The Gulf institutions' net buying eased extensively to QR6.61mn compared to QR23.39mn a week ago.
Total trading volume rose 7% to 1.1bn shares, value by 24% to QR2.07bn and transactions by 2% to 40,849.
The consumer goods sector's trade volume soared 64% to 156.52mn equities, value by 63% to QR246.18mn and deals by 32% to 6,087.
There was 62% surge in the telecom sector's trade volume to 21.22mn stocks, 68% in value to QR51.55mn and 37% in transactions to 1,819.
The industrials sector's trade volume shot up 12% to 253.91mn shares and value by 16% to QR360.09mn, while deals were down 4% to 8,562.
The real estate sector saw less than 1% jump in trade volume to 394.87mn equities, 22% in value to QR453.42mn and 10% in transactions to 7,829.
However, the transport sector's trade volume plummeted 37% to 29.16mn stocks, value by 32% to 84.59mn and deals by 32% to 1,871.
The insurance sector's trade volume shrank 7% to 34.93n stocks, value by 4% to QR66.65mn and transactions by 12% to 1,548.
The banks and financial services sector saw 5% dip in trade volume to 213.75mn equities but 33% growth in value to QR802.92mn despite 2% lower deals at 13,133.
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