(MENAFN- Gulf Times) The Qatar Stock Exchange (QSE) reported more than 91 points gain this week which saw the country's hydrocarbon bellwether Qatar Petroleum (QP) sign a massive $28.75bn deal for the North Field expansion.
Foreign and Gulf institutions were seen net buyers as the 20-stock Qatar Index settled 0.88% higher this week which saw the market heavyweight Industries Qatar report QR2bn net profit for 2020.
Arab individuals were increasingly into net buying this week which saw HE Minister of State for Energy Affairs and QP President and Chief Executive Saad bin Sherida al-Kaabi say local firms ought to benefit from the North Field expansion.
QSE chief executive Rashid bin Ali al-Mansoori is of the view that Qatar's natural gas output expansion would augur well for the financial sector.
'The (North Field expansion) project will generate substantial revenues for Qatar and will have significant benefits to all sectors of the economy, including Qatar's financial markets, he said.
The industrials and insurance counters witnessed higher than average demand on the bourse this week which saw Doha Bank register QR703mn net profit for 2020.
About 67% of the traded constituents extended gains to investors this week which saw Qatar First Bank complete the acquisition of Waterway Plaza in Houston, Texas.
The Islamic index was seen gaining faster than the other indices this week which saw Nakilat register QR1.16bn net profit for 2020.
Nevertheless, local retail investors were increasingly into net profit booking this week which saw Woqod come in top 20 performing companies in terms of total shareholders' return for three, five and ten years, as per the Boston Consulting Group study.
Gulf individuals were seen net sellers this week which saw a total of 2.18mn Masraf Al Rayan-sponsored exchange traded fund QATR valued at QR5.22mn change hands across 216 transactions.
Market capitalisation saw more than QR3bn or 0.57% increase to QR606.97bn, mainly on mid and small cap segments this week which saw a total of 20,605 Doha Bank-sponsored QETF valued at QR212,792 trade across six deals.
Arab and foreign individuals continued to be net buyers but with lesser intensity this week which saw Qatar's realty sector started off in 2021 with a big bang as the prospects brightened on account of a robust double-digit month-on-month expansion in the overall building permits issued this January.
Major gainers included Industries Qatar, Gulf International Services, Milaha, Qatar National Cement, Commercial Bank, Al Khaleej Takaful, Qatari German Medical Devices, Qatari Investors Group, Al Khaliji, Ahlibank Qatar, Dlala and Qatar Oman Investment this week which saw no trading of sovereign bonds and treasury bills.
Nevertheless, Inma Holding, Qatar First Bank, Medicare Group, Qatar General Insurance and Reinsurance, QNB, Baladna and Qatar Industrial Manufacturing were among the losers this week which saw the banks and industrials sectors together account for more than 68% of the trading volume.
The banks and financial sector accounted for 34% of the total trading volume, industrials (34%), consumer goods and services (13%), real estate (8%), insurance (4%), and telecom and transport (3% each) this week.
In value, the banks and financial sector's share was 48%, industrials (22%), consumer goods and services (10%), realty and transport (6% each), insurance (5%) and telecom (4%) this week.
The domestic funds' net buying shot up considerably to QR103.16mn compared to QR46.41mn the previous week.
The foreign funds were net buyers to the tune of QR43.9mn against net sellers of QR13.12mn the week ended February 4.
The Gulf funds turned net buyers to the extent of QR3.72mn compared with net sellers of QR18.8mn a week ago.
The Arab institutions' net buying rose marginally to QR1.07mn against QR0.63mn the previous week.
However, local retail investors' net selling grew significantly to QR147.07mn compared to QR38.77mn the week ended February 4.
Gulf individuals were net sellers to the tune of QR7.45mn against net buyers of QR0.2mn a week ago.
Arab individuals' net profit booking eased noticeably to QR0.47mn compared to QR13.12mn the previous week.
Foreign individuals' net buying weakened markedly to QR2.17mn against QR10.18mn the week ended February 4.
Total trading volume fell 16% to 629.18mn shares, value by 21% to QR1.55bn and transactions by 26% to 33,005.
The market witnessed 57% plunge in the telecom sector's trade volume to 21.6mn equities, 43% in value to QR67.31mn and 47% in deals to 1,939.
The real estate sector's trade volume plummeted 49% to 52.9mn stocks, value by 51% to QR90.87mn and transactions by 49% to 2,788.
The market witnessed 21% shrinkage in the transport sector's trade volume to 18.06mn shares, 12% in value to QR87.03mn and 47% in deals to 1,389.
The banks and financial services sector's trade volume tanked 13% to 214.16mn equities, value by 20% to QR744mn and transactions by 25% to 13,379.
There was 11% expansion in the insurance sector's trade volume to 24.12mn stocks, 12% in value to QR72.04mn and less than 1% in deals to 1,675.
The consumer goods and services sector's trade volume was up 5% to 83.58mn shares, whereas value shrank 24% to QR154.81mn and transactions by 15% to 3,744.
However, the industrials sector reported 6% decline in trade volume to 214.76mn equities, 5% in value to QR335.29mn and 11% in deals to 8,091.
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