By Santhosh V Perumal/Business Reporter

Qatar Exchange, which witnessed an “unspecified” technical snag on Tuesday, closed the week in the positive trajectory with its key index remaining above the 10,000 mark for eight consecutive days.

The index that tracks Shariah-principled stocks distinctly outperformed other key barometers in the week that saw Barwa Real Estate Company announce its assets worth QR20bn sale to Qatari Diar as part of financial restructuring.

The QE 20-stock Qatar Index (based on price data) gained 0.69% despite consolidation in the last two days in the week that witnessed Dubai surge 2.35%, Abu Dhabi (0.98%), Saudi Arabia (0.25%) and Muscat (0.15%); while Kuwait and Bahrain fell 0.79% and 0.19% respectively.

The 20-stock Total Return Index rose 0.69%, All Share Index (comprising wider constituents) by 0.65% and Al Rayan Islamic Index by 2.01% in the week that saw QNB and Qatar Development Bank (QDB) enter into a pact to ensure that export-led Qatari companies and foreign importers of Qatari non-oil products receive financial services offered by QDB’s export arm.

The realty, consumer goods, transport and telecom counters witnessed brisk buying in the review week that saw global credit rating agency Moody’s say that Qatar, which enjoys the “highest” sovereign ratings in the Middle East and “sound” external position, has the lowest break-even oil price in the Gulf region.

About 55% of the stocks appreciated and more than QR3bn in capitalisation was added in the week, which witnessed Al Koot, an insurance subsidiary of Gulf International Services (GIS), “indefinitely” put on hold the plan to convert it into a reinsurance entity.

Higher net buying by foreign institutions and retail investors were witnessed in the week, which saw Gulf Helicopters Company, a GIS subsidiary; buy 15 AW189 helicopters from Italian AugustaWestland.

QE has reported 23.02% gains year-to-date (YTD), which, however, was lower than Dubai’s 78.19% surge, Abu Dhabi (45.65%) and Kuwait (32.14%). Saudi Arabia rose 22.59%, Muscat (17.56%) and Bahrain (12.77%).

The overall market liquidity — which was largely skewed towards real estate, banking, telecom and industrials — expanded mainly on doubled volumes in the transport, realty and consumer goods stocks in the week.

The sector prospects in the QE was upbeat on strong outlook, especially in the real estate, consumer goods and transport equities in the week that saw Qatar’s annual inflation touch 2.8% in October on higher rents and costlier food and entertainment.

Of the 42 stocks, 23 advanced; while 18 declined and one was unchanged in the week.

Among the major gainers were Barwa, Mazaya Qatar, Ezdan, United Development Company (UDC), Vodafone Qatar, Qatar Islamic Bank, Dlala, Aamal and Nakilat; even as QNB, Industries Qatar, Commercial Bank, GIS and Ooredoo buck the trend.

The realty equities surged 4.93%, consumer goods (1.39%), transport (1.17%), telecom (0.91%), industrials (0.34%) and banks and financial services (0.13%); while insurance fell 0.67% in the week.

Six each of the 12 banks and financial services and the eight consumer goods; all of the four real estate; three of the eight industrials; two of the three transport; and one each of the five insurers and the two telecom stocks closed higher in the week.

Market capitalisation expanded 0.62% to QR553.19bn. Mid cap equities gained about 2% and small and micro caps by 1% in the week.

Small, mid and large caps have gained YTD 27.42%, 25.08% and 19.8% respectively; whereas micro caps fell 4.36%.

Foreign institutions were bullish as their net buying was QR194.98mn compared to QR67.81mn the week ended November 14.

Domestic institutions were profit takers as they were net sellers to the tune of QR132.67mn against net buyers of QR103.89mn the previous week.

Qatari individual investors continued to be bearish as their net selling stood at QR85.16mn compared to QR148.47mn the week ended November 14.

Non-Qatari retail investors were bullish as they were net buyers to the extent of QR22.59mn against net sellers of QR23.23mn the previous week.

Total trading volume rose 47% to 82.02mn shares with the realty sector accounting for 38.22% of the total, banks and financial services (17.28%), telecom (14.58%), industrials (14.44%), transport (7.5%), consumer goods (7.47%) and insurance (0.5%).

The transport and real estate sectors’ trading more than doubled to 6.15mn and 31.35mn shares respectively; consumer goods doubled to 6.13mn and industrials rose by 56% to 11.84mn; whereas insurance fell 24% to 0.41mn, banks and financial services by 6% to 14.17mn and telecom by 1% to 11.96mn.

Total stocks trading value surged 37% to QR2.6bn with the realty sector stocks accounting for 28.16% of the total, industrials (24.05%), banks and financial services (23.61%), consumer goods (12.01%), telecom (5.85%), transport (5.48%) and insurance (0.83%).

The real estate and consumer goods sectors’ stocks trading value more than doubled to QR731.11mn and QR311.91mn respectively; transport surged 85% to QR142.31mn and industrials by 26% to QR624.53mn, while insurance shrank 30% to QR21.64mn, telecom by 9% to QR151.87mn and banks and financial services by 4% to QR612.94mn.

Barwa led the trading value with its stocks accounting for 16% of the total, followed by Qatari Investors Group (14.52%) and UDC (8.67%).

Total market transactions soared 32% to 35,140 with the realt sector’s share at 25.86%, followed by banks and financial services (22.57%), industrials (22.08%), consumer goods (13.5%), transport (7.81%), telecom (6.85%) and insurance (1.32%).

The transport sector’s deals expanded 96% to 2,746; real estate by 75% to 9,088; consumer goods by 53% to 4,745; industrials by 28% to 7,760; banks and financial services by 1% to 7,931 and telecom by 1% to 2,407; but insurance fell 33% to 463.

In the debt market, there was no trading of bonds and treasury bills during the week.