The Qatar Stock Exchange saw stronger demand, especially for Islamic stocks, as its key barometer broke through 10,900 levels and capitalization gained QR 10 billion this week, which saw the advent of Mekdam in his junior purse.
Increased purchase interest from foreign institutions mainly helped push the Qatar index up to 20 stocks by 1.44%, up 155 points this week, which saw Industries Qatar (IQ) bring in 3.54 billion of QR in the first semester (S1) of this year.
Real estate and industrial meters saw above-average demand this week, which allowed Mesaieed Petrochemical Holding to report first half net profit to 2021 at QR 909 million.
The weakening net selling pressure from local retail investors also had its influence this week, which saw Gulf International Services report revenues of QR 1.4 billion in H1-2021.
Around 73% of the components traded increased their earnings this week, leading Qatar Aluminum Manufacturing Company to record its highest half-yearly net profit of QR 288 million since its inception.
Gulf institutions continued to be net buyers but with less vigor this week, which saw QLM record a net profit of QR 55.43 million in the first six months of this year.
However, domestic funds have been increasingly net profit takers this week, allowing Al Khaleej Takaful to post a H1-2021 net profit of QR 33.03 million.
Arab individuals turned bearish this week, which saw a total of 129,699 QATR exchange-traded funds sponsored by Masraf Al Rayan, valued at QR 317,874, change hands out of 37 deals.
The Islamic index rose faster than other indices this week, with a total of 71,870 Bank of Doha sponsored QETFs valued at QR 762,543 across 11 transactions.
Market cap rose 1.61% to RQ 631.58 billion, mostly in large and mid-cap segments this week, which saw industrials and consumer goods and services sectors together. more than 73% of the total volume of trade.
The real estate sector index jumped 3.03%, industry (2.49%), consumer goods and services (1.18%), banks and financial services (1.06%) and telecoms (0.21%); while insurance and transportation fell 1.21% and 0.06% respectively this week which saw no trading in sovereign bonds.
The main winners were Investment Holding Group, Qamco, GIS, MPHC, Salam International Investment, Qatari German Medical Devices Company, Qatar Oman Investment, Commercial Bank, QIIB, Masraf Al Rayan, Qatar First Bank, Baladna, Mannai Corporation, Qatar Electricity and Water , Aamal Company, Mazaya Qatar and Vodafone Qatar; even as Doha Bank, QLM, Qatar Insurance, Qatar Islamic Insurance and Al Khaliji were among the losers this week who saw no T-bill swaps.
Overall trade turnover and volumes were on the rise this week, with the consumer goods and services sector accounting for 39% of total trade volume, industrials (34%), banking and financial services (13 %), real estate (10%), transport and telecommunications (2% each) and insurance (1%).
In value, the share of the industrial sector was 31% of the total, banking and financial services and consumer goods and services (27% each), real estate (8%), telecoms (4%), transport (3%) and insurance (1%) this week.
Net purchases of foreign funds increased significantly to reach QR 146.87 million from QR 78.11 million in the week ended July 29.
Net sales by Qatari individuals fell significantly to QR 90.59 million from QR 83.86 million the previous week.
However, net sales of national institutions increased significantly to reach QR 90.59 million from QR 12.73 million a week ago.
Net sales by Arab individuals increased significantly to QR 30.96 million from QR 13.27 million in the week ended July 29.
Net sales of foreign individuals also rose sharply to QR 13.94 million from QR 5.36 million the previous week.
In particular, the reservation of net profits for Gulf individuals expanded to QR 4.24 million from QR 0.71 million a week ago.
Net purchases by Gulf institutions weakened slightly to QR 36.78 million from QR 37.88 million in the week ended July 29.
Arab institutions had no major net exposure compared to net profit takers of QR 0.09 million the previous week.
Total trade volume more than doubled to 1.09 billion shares, value increased 62% to QR 2.06 billion, and transactions increased 26% to 49,565.
The trade volume of the consumer goods and services sector more than tripled to 425.89 million shares and the value almost tripled to QR 552.11 million on deals more than doubled to 10,549.
The industrial sector’s trade volume nearly tripled by% to 370.11 million shares and the value more than doubled to QR 627.83 million with a 79% increase in transactions to 14,275.
The real estate sector’s trade volume nearly doubled to 110.8 million shares and the value also nearly doubled to QR 162.7 million with a 44% jump in deals to 4,521.
The telecommunications sector reported a 62% increase in trading volume to 20.78 million shares, 40% in value to QR81.92 million and 11% in trades to 4,390.
The trading volume of the banking and financial services sector increased by 32% to 135.83 million shares and the value by 1% to QR 552.79 million; while transactions were down 18% to 12,808.
However, there was a 63% drop in insurance trade volume to 5.68 million shares, 52% in value to QR 20.18 million and 37% in trades to 656.
The transport sector’s trade volume fell by 21% to 17.11 million shares, the value by 26% to QR59.44 million and transactions by 25% to 2366.