Qatar Exchange witnessed mild bearish pressure in the week, which saw only three trading sessions in view of National Day holidays.
Of the three sessions, two of them were in the negative turf in the week that saw a meeting of Supreme Council of Economic Affairs where a presentation was made regarding offering of shares worth QR50bn of several state-owned companies to Qataris over a period of 10 years.
Real estate stocks witnessed the maximum shrinkage in the week that saw Finance Minister HE Ali Shareef al-Emadi say the first phase of the listing programme would begin by offering shares of Mesaieed Petrochemical Holding, which comprises three major industrial companies Q-Chem I, Q-Chem 2 and Qatar Vinyl Company.
The QE 20-stock Qatar Index (based on price data) was down 0.17% in the week that witnessed the Ministry of Development Planning and Statistics (MDP&S) upgrade Qatar's 2013 growth to 6% from its previous estimate of 5.3%.
The 20-stock Total Return Index fell 0.17% and Al Rayan Islamic Index by 0.36%, while All Share Index (comprising wider constituents) was flat in the week, which saw MDP&S caution that inflationary pressures in Qatar are "unlikely" to subside in 2014 but measures to curb abuses of market power in local consumer markets are expected to help keep price rises in check.
However, telecom, transport and consumer goods equities were seen to experience buying interests in the week that featured a Beltone Financial report which said plans to list four Qatar Petroleum subsidiaries can prove to be crucial equity financing vehicle for companies with direct exposure to FIFA World Cup 2022.
A half of the traded stocks fell in the week, which saw Qatar say it remains "susceptible" to external shocks if geopolitics develops in a way to disrupt the free flow of gas and oil.
The overall market liquidity -- which was largely skewed towards realty, telecom, banking and transport stocks -- shrank mainly on faster declines in volumes in the telecom, real estate and banking counters in the week.
The sector prospects in the QE were bearish on weak outlook, especially in the realty, banking and telecom equities in the week that featured Gulf Drilling International, a joint venture of Gulf International Services, sign a contract with JX Nippon Oil and Gas Exploration Qatar to utilise its hi-spec premium jack-up rig "Al Khor" to drill an exploratory well in 2014.
Of the 42 stocks, only 16 advanced; while 20 declined and six were unchanged in the week that featured a report which said positive regulatory developments in Qatar, Saudi Arabia and similar changes elsewhere in the region and in the UK, are expected to considerably encourage optimism in the financial services industry.
Among the influential losers were Industries Qatar, Commercial Bank, Barwa, United Development Company, Mazaya Qatar, Vodafone Qatar and International Islamic.
However, Doha Bank, Gulf International Services, Aamal Company, Nakilat and Qatari Investors Group bucked the trend.
Real estate stocks fell 1.47%, insurance (0.39%) and banks and financial services (0.02%); whereas telecom surged 0.58%, transport (0.415), consumer goods (0.25%) and industrials (0.12%) in the week.
Five each of the 12 banks and financial services and the eight consumer goods; three each of the eight industrials and the four realty; two of the five insurers and one of the two telecom stocks closed lower in the week.
Market capitalisation was down 0.02% or QR10mn to QR559.36bn.
Total trading volume fell 60% to 25.11mn shares with the realty sector accounting for 29.43% of the total, banks and financial services (21.31%), telecom (13.74%), industrials (13.3%), transport (12.98%), consumer goods (7.81%) and insurance (1.43%).
The telecom sector's trading volume plummeted 85% to 3.45mn stocks, banks and financial services by 58% to 5.35mn, real estate by 55% to 7.39mn, consumer goods by 49% to 1.96mn and industrials by 22% to 3.34mn; while insurance gained 16% to 0.36mn and transport by 6% to 3.26mn.
Total stocks trading value declined 53% to QR944.78mn with the banks and financial services sector accounting for 31.09% of the total, followed by industrials (24.1%), realty (17.94%), consumer goods (10.51%), transport (8%), telecom (5.96%) and insurance (2.4%).
The telecom sector's stocks trading value plunged 80% to QR56.3mn, realty by 59% to QR169.52mn, banks and financial services by 56% to QR293.72mn, industrials by 42% to QR227.72mn, consumer goods by 41% to QR99.28mn and transport by 7% to QR75.6mn; while insurance rose 26% to QR22.63mn.
UDC led the trading value with its stocks accounting for 8.85% of the total, followed by QNB (8.01%) and Masraf Al Rayan (7.81%).
Total market transactions shrank 47% to 13,668 with the banks and financial sector's share at 30.95%, followed by industrials (29.21%), realty (17.11%), consumer goods (8.52%), telecom (7.31%), transport (6.04%) and insurance (0.86%).
The telecom sector's deals tanked 76% to 999; real estate by 55% to 2,339; insurance by 55% to 118; consumer goods by 54% to 1,164; banks and financial services by 44% to 4,230; industrials by 24% to 3,993 and transport by 14% to 825.
In the debt market, there was no trading of treasury bills. However, a total of 7,500 bonds worth QR75.08mn changed hands across two transactions during the week.
© Gulf Times 2013
