Islamic equities outperform on QSE; M-cap gains more than QR5bn
June 10 2022 08:37 PM
QSE

Islamic equities were seen outperforming in the Qatar Stock Exchange, which gained a robust 2.34% amidst weakened trading volume this week.
The foreign institutions were increasingly net buyers as the 20-stock Qatar Index shot up 2.34% this week which saw the Gulf International Services (GIS) work towards merging its subsidiary Amwaj with Shaqab.
The domestic funds’ substantially weakened net selling also had its influence in the market this week which saw the Qatar Financial Centre’s purchasing managers’ index (PMI) find that Doha signal “record” improvement in the operational environment for the private sector in May this year.
The transport, telecom, industrials and real estate counters witnessed higher than average demand this week which saw the PMI caution that inflationary pressure continues to mount in Qatar.
The Arab institutions were increasingly net buyers this week which saw Masraf Al Rayan’s special purpose vehicle MAR Finance’s $4bn trust certificates get ‘(P)A1’ rating from the global credit rating agency Moody’s.
The foreign individuals were also increasingly bullish this week which saw Estithmar Holding launch two new projects in the hospitality sector.
The Gulf institutions continued to be net buyers but with lesser vigour this week which saw a total of 0.1mn Doha Bank-sponsored exchange traded fund QETF valued at QR1.3mn change hands across 60 transactions.
More than 74% of the traded constituents in the main market extended gains this week which saw as many as 0.16mn Masraf Al Rayan-sponsored QATR worth QR0.45mn trade across 44 deals.
The overall trading and turnover in the main market were on the decline this week, which saw the industrials and banking sectors together constitute about 59% of the total trade volume.
The venture market also reported shallow trading this week which saw which saw a total of 0.19mn government bonds valued at QR1.86bn trade across two transactions in the money market.
Market capitalisation was seen gaining more than QR5bn or 0.75% to QR732.28bn, mainly on mid and microcap segments this week, which saw no trading of treasury bills.
The Total Return Index soared 2.34%, All Islamic Index by 3.78% and All Share Index by 1.18% this week.
The transport sector index zoomed 4.93%, telecom (4.39%), industrials (3.12%), realty (2.85%), insurance (2.06%) and consumer goods and services (1.45%); while banks and financial services declined 0.4% this week.
Major movers in the main market included Qatar Industrial Manufacturing, Qatar Insurance, GIS, Gulf Warehousing, Doha Insurance, QIIB, Qatar Islamic Bank, Doha Bank, Woqod, Masraf Al Rayan, Industries Qatar, Mesaieed Petrochemical Holding, Qamco, Barwa, Ezdan, Ooredoo, Nakilat and Milaha. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value this week.
Nevertheless, QNB, Qatari German Medical Devices, Aamal Company, Dlala and Commercial Bank were among the losers in the main market this week.
In the main market, the industrials sector accounted for 40% of the total trade volume, banks and financial services (19%), consumer goods and services (16%), real estate (14%), transport (6%), telecom (3%) and insurance (2%) this week.
In terms of value, the banks and financial sector’s share was 39%, industrials (33%), consumer goods and services and transport (9% each), realty (6%), telecom and insurance (2% each) this week.
The foreign funds’ net buying increased markedly to QR304.66mn compared to QR266.83mn a week ago.
The foreign individuals’ net buying grew perceptibly to QR5.15mn against QR3.15mn the previous week.
The Arab funds’ net buying rose marginally to QR1.72mn compared to QR1.01mn the week ended June 2.
The domestic funds’ net profit booking declined substantially to QR77.1mn against QR305.38mn a week ago.
However, Qatari individuals’ net selling grew markedly to QR280.08mn compared to QR244.16mn previous week.
The Arab individuals’ net selling expanded noticeably to QR22.23mn against QR5.5mn the week ended June 2.
The Gulf individuals’ net profit booking strengthened noticeably to QR7.07mn compared to QR0.22mn a week ago.
The Gulf funds’ net buying weakened significantly to QR74.96mn against QR284.28mn the previous week.
Total trade volume in the main market fell 17% to 901.81mn shares, value by 49% to QR3.14bn and transactions by 34% to 81,305.
The banks and financial services sector’s trade volume plummeted 60% to 169.74mn equities, 70% in value to QR1.21bn and 52% in deals to 37,050.
The consumer goods and services sector reported 36% plunge in trade volume to 144.81mn stocks, 51% in value to QR297.18mn and 30% in transactions to 6,914.
The telecom sector’s trade volume tanked 30% to 24.88mn shares, value by 53% to QR75.2mn and deals by 31% to 3,573.
There was a 5% decline in the transport sector’s trade volume to 55.85mn equities but on 16% jump in value to QR272.09mn amidst 19% lower transactions to 4,936.
However, the real estate sector’s trade volume zoomed 66% to 126.05mn stocks, value by 52% to QR189.97mn and deals by 45% to 6,157.
The market witnessed 44% expansion in the industrials sector’s trade volume to 361.92mn shares, 8% in value to QR1.03bn and 6% in transactions to 21,023.
The insurance sector’s trade volume soared 26% to 18.56mn equities, value by 53% to QR66.51mn and deals by 15% to 1,652.
The venture market saw 15.63% drop in trade volumes to 3.4mn stocks, 7.66% in value to QR22.31mn and 12.94% in transactions to 1,150.



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