Interest on purchases of foreign funds increases QSE, the index is up 0.73%

Sustained buying interests from foreign funds raised the Qatar Stock Exchange this week, which saw the exchange showcase its efforts to advance the environmental, social and governance agenda to better attract global investors.

Supported by strong buys in industrial meters, the 20-stock Qatar index was up 0.73% this week, allowing QNB Financial Services to start trading for the QATR-sponsored exchange-traded fund. Masraf Al Rayan.

Gulf funds and foreign individuals turned bullish this week, which saw Qatar’s consumer price index inflation rise 2.95% year-on-year in August.

The weakening net selling pressure from local and Arab retail investors also had its influence on the market this week.

Still, losers outnumbered winners by a very slim margin this week, which saw a total of 162,396 QATR valued at 406,572 QR change hands in 35 trades.

The Islamic index rose faster than conventional indices this week, which saw a total of 26,564 Bank of Doha sponsored QETFs valued at QR 287,679 across nine transactions.

Market cap saw an estimated QR 7 billion or 1.04% rise to QR 646.08 billion, mostly in large and mid-cap segments this week, which saw industrials, consumer goods and services and banks together constitute more than 84% of the total volume of trade.

The total return index rose 0.73%, the All Share index by 0.65% and the All Islamic index by 0.78% this week, which saw no trading in sovereign bonds.

The industrial sector index jumped 2.99%, real estate (0.23%), banking and financial services (0.22%) and consumer goods and services (0.08%); while insurance was down 1.24%, telecoms (0.89%) and transport (0.49%) this week which saw no trading of treasury bills.

Major players have included Industries Qatar, QNB, Mesaieed Petrochemical Holding, Investment Holding Group, Qamco, Gulf International Services, Baladna, Ezdan, Ahlibank Qatar, Qatari German Medical Devices, Qatari Investors Group, Barwaq and Nakilat this week which saw the figure overall business and increasing volumes.

Nonetheless, Qatari General Insurance and Reinsurance, Vodafone Qatar, Milaha, Doha Bank, Medicare Group, Masraf Al Rayan, Qatar First Bank, Qatar National Cement, Qatar Electricity and Water and Al Khaleej Takaful were among the losers this week which saw Wasata Financial Services, a brokerage firm wholly owned by the Investment Holding Group pact for the provision of liquidity to Mekdam Holding Company in the venture capital market.

The industrial sector represented 52% of the total volume of trade, consumer goods and services (17%), banks and financial services (16%), real estate (10%), transport (3%), telecommunications (2%) and insurance (1%) this week.

In value, the share of the industrial sector stands at 45%, banks and financial services (29%), consumer goods and services (12%), real estate (6%), transport (4%) , telecoms (3%) and insurance (1%) this week.

Net purchases of foreign funds increased significantly to QR 188.96 million from QR 151.22 million in the week ended September 9.

Gulf institutions turned net buyers of QR 5.92 million against net sellers of QR 6.75 million the week before.

Foreign individuals were net buyers at QR 4.12 million versus net sellers of QR 5.72 million a week ago.

Local retail investor net sales fell significantly to QR 0.55 million from QR 24.98 million in the week ended September 9.

The reservation of net profits of Arab individuals decreased significantly to QR 5.22 million from QR 14.85 million the previous week.

Gulf retail net sales weakened significantly to 2.16 MQ from 2.31 MQ a week ago.

The Arab funds net profit reservation decreased to QR 0.01 million from QR 0.22 million in the week ended September 9.

However, net sales of domestic funds strengthened considerably to QR 191.08 million from QR 96.4 million the previous week.

Total trade volume increased 40% to 1.11 billion shares, value 60% to QR 2.75 billion, and trades 28% to 54,279.

The real estate sector’s trade volume nearly doubled to 111.56 million shares and the value more than doubled to QR 176.75 million with a 61% increase in transactions to 5,618.

The transport sector’s trade volume soared 80% to 28.18 million shares, the value 78% to QR 99.91 million, and transactions 37% to 2,622.

There was a 61% increase in trading volume in the insurance industry to 12.02 million shares, 49% in value to QR 34.2 million, and 29% in transactions to 773.

The industrial sector’s trade volume increased 57% to 572.42 million shares and the value more than doubled to QR 1.24 billion on a 58% increase in transactions to 19,547.

The telecommunications sector saw a 47% expansion in trade volume to 21.71 million shares and 4% in value to QR 68.64 million but a 27% contraction in transactions to 3,014.

The trading volume of the banking and financial services sector jumped 14% to 177.44 million shares, the value by 27% to QR805.09 million and transactions by 15% to 16,207.

The market saw an 8% increase in trade volume in the consumer goods and services sector to 195.12 million shares, 23% in value to QR328.61 million and 12% in trades to 6,498.


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