Benchmark gains huge 323 points amid QR21bn surge in capitalisation

Benchmark gains huge 323 points amid QR21bn surge in capitalisation

Publication: – English (English | Website)

The US presidential outcome and the global pharmaceutical major Pfizer’s disclosure of 90% efficacy in the Covid vaccine had its profound impact on the Qatar Stock Exchange (QSE) this week.
The bourse witnessed a huge 323 points addition in its key barometer and QR21bn in capitalisation this week which saw Standard & Poor’s (S&P), an international credit rating agency, say Qatar’s credit profile will remain resilient, supported by its wealthy economy and strong government and external net asset positions.
Foreign funds were increasingly into buying mode as the 20-stock Qatar Index surged 3.27% this week, which saw the QSE receive Digital Access Certification for its website from the Assistive Technology Centre (Mada).
Gulf and Arab institutions were seen bullish which saw Al Khaliji disclose that the global credit rating agencies Fitch and Moody’s have affirmed its ratings as ‘A’ and ‘A3/Prime-2’ respectively, both with a “stable” outlook.
The transport, industrials, consumer goods and realty counters witnessed higher than average demand this week, which saw more than 87% of the traded constituents extend gains to investors.
Islamic equities were, however, seen gaining slower than the other indices this week, which saw the Qatar Financial Centre express the hope that Doha could turn into a hub for aircraft financing and leasing.
Gulf individuals were seen bullish in the week as a total of 1.56mn Masraf Al Rayan-sponsored exchange traded fund QATR valued at QR3.62mn change hands across 73 transactions.
Trading value and volume were on the increase this week, which saw as many as 273,026 Doha Bank-sponsored QETF valued at QR2.7mn trade across 30 deals.
The bourse’s bullish momentum came despite the strong selling pressure of the local retail investors with as many as 230,650 sovereign bonds of QR2.39bn changing hands across five transactions.
Market capitalisation rose 3.57% to QR594.51bn, mainly on large and midcap segments this week, which saw domestic funds continue to be net buyers but with lesser vigour.
The Total Return Index shot up 3.27%, the All Share Index by 3.42% and the Al Rayan Islamic Index by 2.79% this week, which saw the increased net selling from the Arab individuals.
The transport index soared 7.03%, industrials (5.23%), consumer goods and services (5.16%), realty (3.46%), insurance (2.76%), banks and financial services (2.41%) and transport (0.6%).
Major gainers included Mazaya Qatar, Industries Qatar, Dlala, Qatari German Medical Devices, Nakilat, Inma Holding, QNB, QIIB, Qatar Oman Investment, Qatar Insurance, Barwa, Ezdan, Baladna, Woqod, Salam International Investment, Gulf International Services, Mesaieed Petrochemical Holding and Qatar Industrial Manufacturing; even as Qatar General Insurance and Reinsurance, Ahlibank Qatar, Doha Bank and Al Khaliji were among the losers this week, which saw industrials and real estate sectors together account for about 57% of total trading volume.
The industrials sector accounted for 30% of the total trading volume, real estate (27%), banks and financial services (18%), consumer goods (14%), transport (7%), and insurance and telecom (2% each).
In value, the banks and financial sector’s share was 32%, realty (22%), industrials (17%), consumer goods and services (13%), transport (11%), and telecom and insurance (2% each).
Foreign institutions turned net buying grew significantly to QR353.68mn compared to QR31.49mn a week ago.
Gulf funds were net buyers to the tune of QR14.87mn against net sellers of QR2.2mn the week ended November 5.
Gulf individuals turned net buyers to the extent of QR9.59mn compared with net sellers of QR5.2mn the previous week.
Arab institutions were net buyers to the tune of QR2.78mn against net sellers of QR0.13mn a week ago.
However, Qataris net selling grew considerably to QR367.89mn compared to QR71.79mn the week ended November 5.
Foreign individuals’ net profit booking rose notably to QR18.51mn against QR0.16mn the previous week.
Arab individuals’ net selling strengthened markedly to QR9.59mn compared to QR4.72mn a week ago.
Domestic funds’ net buying declined extensively to QR14.87mn against QR52.58mn the week ended November 5.
Total trading volume rose 87% to 1.85bn shares, value more than doubled to QR3.31bn on 61% increase in transactions to 64,063.
The transport sector’s trade volume jumped more than five-fold to 121.8mn equities and value by about five-fold to QR370.62mn on more than doubled deals to 5,999.
The real estate sector’s trade volume more than doubled to 498.91mn stocks and value also more than doubled to QR741.17mn on 72% jump in in transactions to 12,324.
The banks and financial services sector’s trade volume more than doubled to 342.55mn shares, value soared 86% to QR1.05bn and deals by 58% to 19,166.
The telecom sector reported 78% surge in trade volume to 36.98mn equities, 41% in value to QR82.29mn and 36% in transactions to 2,638.
The insurance sector’s trade volume soared 64% to 39.71mn stocks, value by 68% to QR74.06mn and deals by 41% to 1,377.
The industrials sector saw a 51% expansion in trade volume to 557.31mn shares, 65% in value to QR565.33mn and 47% in transactions to 14,127.
The consumer goods sector’s trade volume shot up 50% to 257.49mn equities, whereas value more than doubled to QR417.07mn on 56% growth in deals to 8,432.

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