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By Santhosh V Perumal
The Qatar Stock Exchange remained bullish, adding 139 points — mainly triggered by transport, consumer goods, real estate and banking sectors, but failed to break the 13,800 level during the week.
Foreign institutions’ increased buying support lifted the market by more than 1% during the week that saw HH the Emir Sheikh Tamim bin Hamad al-Thani assert that the current trough in oil prices will not affect the domestic economy.
In comparison, Dubai surged 5.7%, Abu Dhabi (3.4%), Muscat (1.33%), Kuwait (0.93%) and Saudi Arabia (0.345); while Bahrain was down 0.74% during the week that saw global credit rating agency Standard and Poor’s (S&P) also view that Qatar and the UAE are the least vulnerable to the present weakening crude.
Qatar’s bourse has gained 32.28% year-to-date against Dubai’s 38.21%, Abu Dhabi (15.45%), Bahrain (14.53%), Saudi Arabia (13.43%) and Muscat (2.62%); whereas Kuwait fell 4.61%.
Micro and mid stocks emerged the most favourites in the upward rally during the week that, however, saw increased net profit booking pressure from domestic institutions.
Transport stocks appreciated 2.9%, consumer goods (2.65%), real estate (2.02%), banks and financial services (1.33%) and industrials (0.46%); even as insurance and telecom shrank 0.41% each during the week that saw QSE say that it is keen to encourage family-owned and privately held companies, some of which are extremely large, to list their shares, as part of strategies to enhance the corporate sector’s contribution to the national economy.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices during the week that saw realty, banks and telecom together account for about 71% of the total trade volume.
The 20-stock Total Return Index rose 1.02%, All Share Index (comprising wider constituents) by 1.2% and Al Rayan Islamic Index by 2.41% during the week, which saw Barwa dominate the trading ring in terms of both volume and value.
Of the 43 stocks, 28 advanced; while 15 declined during the week that saw S&P say the falling oil prices will prove to be a litmus test for the Gulf region.
Seven of the nine industrials; six each of the 12 banks and financial services as well as the eight consumer goods; three each of the four real estate and the three transport; two of the five insurers; and one of the two telecom stocks closed higher during the week.
Major gainers included QNB, Industries Qatar, Ooredoo, Dlala, Islamic Holding, Al Meera, Widam Food, Qatar National Cement, Al Khaleej Takaful, Barwa, United Development Company, Gulf Warehousing, Zad Holding and Milaha.
However, Doha Bank, Commercial Bank, Vodafone Qatar, Ezdan, Qatar Insurance and Qatar Islamic Insurance bucked the trend.
Market capitalisation swelled 1.17% or about QR9bn to QR742.42n during the week. Micro, mid, small and large equities were seen gaining 2.97%, 1.81%, 1.77% and 1.15% respectively.
Micro, small, mid and large cap equities are up 50.58%, 36.32%, 30.32% and 26.56% respectively year-to-date.
Foreign institutions’ net buying surged to QR153.75mn against QR67.31mn the previous week.
Local retail investors turned net buyers to the tune of QR21.51mn compared with net sellers of QR17.64mn the week ended November 6.
Domestic institutions’ net profit booking soared to QR169.68mn against QR3.82mn the previous week.
Non-Qatari individual investors’ net selling sunk to QR5.18mn compared to QR45.56mn the week ended November 6.
A total of 66.37mn shares valued at QR3.98bn changed hands across 40,576 transactions.
The real estate sector saw a total of 28.36mn equities worth QR977.35mn trade across 8,485 deals.
As many as 11.71mn banks and financial services stocks valued at QR1.13bn changed hands across 12,186 transactions.
A total of 5.65mn consumer goods stocks valued at QR506.71mn trade across 3,693 deals.
The telecom sector saw 6.58mn equities worth QR173mn change hands across 2,016 transactions.
The industrials and transport segments recorded 6.77mn and 5.9mn shares worth QR791.39mn and QR328.08mn trade across 10,756 and 2,383 deals respectively.
A total of 1.4mn insurance equities valued at QR81.39mn changed hands across 1,057 transactions.
In the debt market, there was no trading of treasury bills and government bonds during the week.
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