Sentiments Weaken On Global Cues But M-Cap Gains Qr9bn| MENAFN.COM

Saturday, 01 October 2022 02:12 GMT

Sentiments Weaken On Global Cues But M-Cap Gains Qr9bn

(MENAFN- Gulf Times)

Reflecting global cues, sentiments weakened in the Qatar Stock Exchange this week, which saw the bourse celebrate its silver jubilee.
The increased net selling pressure from domestic funds and local retail investors was instrumental in a 0.22% decline in the 20-stock Qatar Index this week, which saw HE the Qatar Central Bank governor Sheikh Bandar bin Mohamed bin Saoud al-Thani sound positive on Qatar's strength and resilience.
The banking and insurance counters witnessed higher than average net profit booking this week which saw the Qatar First Bank successfully exit Jefferson Square, the US realty investment, generating more than 8% internal rate of return for the investors.
The Gulf individuals were seen net sellers, albeit at lower levels, this week which saw QIIB and Qatar Islamic Insurance join hands to establish a takaful company in Morocco.
The foreign individuals' weakened net buying also had its influence in the market this week which saw Mazaya Qatar sign contract with Al Naama Real Estate Development Company to develop residential tower in Lusail.
The Islamic benchmark was seen declining faster than the other indices this week which saw a total of 0.14mn Doha Bank-sponsored exchange traded fund QETF valued at QR1.8mn change hands across 56 transactions.
However, about 63% of the traded constituents in the main market extended gains this week which saw Qatar's maritime sector show robust performance in container and cargo handling on an annualised basis this May.
The overall trading and turnover in the main market were on the increase this week, which saw as many as 0.09mn Masraf Al Rayan-sponsored QATR worth QR0.26mn trade across 26 deals.
The venture market nevertheless registered heightened trading this week which saw which saw the banks, industrials and consumer goods sectors together constitute about 83% of the trade volume.
Market capitalisation was seen gaining about QR9bn or 1.22% to QR726.8bn, mainly on mid and small cap segments this week, which saw no trading of sovereign bonds.
The Total Return Index declined 0.22% and All Islamic Index by 0.55%, while All Share Index gained 0.45% this week which saw no trading of treasury bills.
The banks and financial services sector index weakened 0.65%, insurance (0.22%) and consumer goods and services (0.01%); while transport index gained 2.88%, industrials (2.31%), telecom (2.23%) and real estate (1.92%) this week.
Major shakers in the main market included Qatar Islamic Bank, QLM, Qatar First Bank, Al Khaleej Takaful, Doha bank, Woqod, Al Meera and Gulf Warehousing.
Nevertheless, Mannai Corporation, Qatari German Medical Devices, Baladna, Mesaieed Petrochemical Holding, Commercial Bank, QNB, Ahlibank Qatar, Industries Qatar, Aamal Company, Gulf International Services, Qamco, Ooredoo, Vodafone Qatar and Nakilat were among the gainers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value this week.
In the main market, the banks and financial services sector accounted for 38% of the total trade volume, industrials (23%), consumer goods and services (21%), real estate (7%), transport (5%), telecom (3%) and insurance (1%) this week.
In terms of value, the banks and financial sector's share was 65%, industrials (16%), consumer goods and services (10%), transport (4%), telecom (3%), realty (2%) and insurance (1%) this week.
The domestic funds' net selling increased substantially to QR305.38mn compared to QR163.48mn the week ended May 26.
Qatari individuals' net profit booking grew significantly to QR244.16mn against QR149.97mn the previous week.
The Gulf individuals were net sellers to the tune of QR0.22mn compared with net buyers of QR0.82mn a week ago.
The foreign funds' net buying weakened markedly to QR266.83mn against QR378.29mn the week ended May 26.
The foreign individuals' net buying declined perceptibly to QR3.15mn compared to QR8.72mn the previous week.
However, the Gulf funds turned net buyers to the extent of QR284.28mn against net sellers of QR66.34mn a week ago.
The Arab funds were net buyers to the tune of QR1.01mn compared with net sellers of QR0.29mn the week ended May 26.
The Arab individuals' net selling declined noticeably to QR5.5mn against QR7.76mn the previous week.
Total trade volume in the main market rose 84% to 1.08bn shares and value more than doubled to QR6.13bn on 36% increase in transactions to 123,578.
The consumer goods and services sector's trade volume more than doubled to 225.21mn equities and value more than tripled to QR602.38mn on almost doubled deals to 9,905.
The banks and financial services sector's trade volume more than doubled to 419.49mn stocks and value also more than doubled to QR4.01bn on 47% jump in transactions to 76,899.
The telecom sector reported 79% surge in trade volume to 35.44mn shares and 71% in value to QR160.98mn on 24% decline in deals to 5,191.
The transport sector's trade volume soared 51% to 58.92mn equities, value by 47% to QR234.23mn and transactions by 8% to 6,091.
There was 46% expansion in the industrials sector's trade volume to 250.94mn stocks, 89% in value to QR949.87mn and 30% in deals to 19,799.
The real estate sector's trade volume zoomed 34% to 76.01mn shares, value by 57% to QR124.61mn and transactions by 21% to 5,191.
However, the market witnessed 39% shrinkage in the insurance sector's trade volume to 14.69mn equities, 45% in value to QR43.48mn and 39% in deals to 1,435.
In the venture market, trade volumes grew more than six-fold to 4.03mn stocks and value also by more than six-fold to QR24.16mn and transactions by about five-fold to 1,321.


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