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Stronger demand in banking sector lifts barometer upto 10,300 levels

Santhosh V. Perumal

Friday، 08 November 2019 09:05 PM

Tuesday’s steep gains helped the Qatar Stock Exchange stay afloat in the positive trajectory near 10,300 levels this week.
Stronger demand, especially in the banking sector, was instrumental in lifting the barometer this week.
Foreign institutions were increasingly bearish, thus helping the 20-stock benchmark gain 0.84% or 86 points this week.
However, domestic funds and local retail investors turned bullish this week, which also saw non-Qatari individuals were increasingly net profit takers.
About 59% of the traded constituents extended gains this week which witnessed Islamic stocks were seen gaining slower than the other indices.
Trade turnover declined amidst higher volumes this week which saw as many as 287,839 Masraf Al Rayan sponsored exchange traded fund QATR valued at QR0.66mn trade across eight transactions.
The Total Return Index gained 0.84%, Al Rayyan Islamic Index by 0.35% and All Share Index by 0.81% this week which saw a total of 15,327 Doha Bank sponsored QETF valued at QR0.15mn changed hands across 10 deals.
The banks and financial services index gained 1.37%, consumer goods (0.72%) and industrials (0.69%); whereas transport declined 1.03%, real estate (0.86%), telecom (0.55%) and insurance (0.48%) this week which saw market capitalisation rose 0.91% or more than QR5bn to QR568.54bn mainly on large and small cap equities.
Major gainers included QNB, Commercial Bank, Ahlibank Qatar, Masraf Al Rayan, Alijarah Holding, Woqod, Qatar National Cement, Qatar Electricity and Water, Aamal Company, Gulf International Services, Mesaieed Petrochemical Holding, Al Khaleej Takaful, Ezdan and Ooredoo this week.
Nevertheless, QIIB, Qatar First Bank, Dlala, Qatari German Company for Medical Devices, Medicare Group, Industries Qatar, Woqod, United Development Company, Barwa, Vodafone Qatar, Nakilat and Gulf Warehousing were among the losers this week which saw banking, realty and industrials constitute more than 77% of the trading volume.
The banks and financial services sector accounted for 39% of the trading volume, real estate (20%), industrials (19%), consumer goods (13%), insurance (5%), telecom (4%) and transport (2%) this week.
In terms of value, banks and financial services accounted for 47%, industrials (16%), consumer goods (15%), realty (9%), insurance (6%), telecom (5%) and transport (3%) this week.
Non-Qatari funds turned net buyers to the tune of QR200.79mn compared with net sellers of QR77.34mn the previous week.
However, domestic funds were net sellers to the tune of QR158.28mn against net buyers of QR97.37mn a week ago.
Non-Qatari individuals’ net profit booking grew noticeably to QR29.51mn compared to QR25.09mn the previous week.
Local retail investors turned net sellers to the extent of QR13.09mn against net buyers of QR5.06mn a week ago.
Total trade volume rose 31% to 433.73mn shares, while value fell 15% to QR878.34mn and transactions by 1% to 22,521.
The consumer goods sector’s trade volume soared 69% to 55.89mn equities, while value shrank 13% to QR128.99mn and deals by 14% to 3,028.
The banks and financial services sector saw 66% surge in trade volume to 167.34mn stocks but on 17% fall in value to QR413.17mn despite 8% higher transactions at 7,800.
The telecom sector’s trade volume shot up 19% to 16.59mn shares, while value shrank 13% to QR42.34mn despite 17% higher deals at 2,301.
The real estate sector reported 16% increase in trade volume to 84.88mn equities, 6% in value to QR77.38mn and 5% in transactions to 2,121.
The insurance sector’s trade volume grew 15% to 19.76mn stocks and value by 3% to QR48.46mn while deals were down 14% to 1,236.
There was 3% jump in the industrials sector’s trade volume to 81.78mn shares but on 21% decline in value to QR139.78mn and 4% in transactions to 5,323.
However, the transport sector’s trade volume plummeted 48% to 7.48mn equities, value by 33% to QR28.22mn and deals by 25% to 712.

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