By Santhosh V Perumal
Business Reporter

The Qatar Stock Exchange was on a weak wicket as crude fell below $59, making it the second worst performer among the seven Gulf bourses during the week ended on Thursday.
Lower buying interests was visible among local retail investors as the 20-stock Qatar Share Index shed 0.88% during the week that saw Ahlibank view a “modest but optimistic” top line growth in the country’s banking industry despite weaker crude.
During the week, Dubai witnessed the maximum fall of 1.17%, Kuwait (0.82%) and Muscat (0.29%); whereas Abu Dhabi saw 0.91% gains, Bahrain (0.87%) and Saudi Arabia (0.46%).
The Qatari bourse has so far (year-to-date) made 1.71% gains against 11.66% in Saudi Arabia, 4.66% in Muscat, 3.09% in Abu Dhabi, 2.35% in Bahrain, 2.22% in Dubai and 1.61% in Kuwait.
Profit booking, especially in the telecom, real estate and transport stocks, dragged the Qatari bourse during the week that saw Barwa complete the sale of Al Sadd Recreational Centre to Katara Hospitality for QR81mn.
However, Islamic stocks were seen melting slower than the other indices in the market, where realty, telecom and banking stocks dominate the trading ring in terms of volumes during the week that witnessed Qatar’s consumer price index inflation rise 3.4% in January this year.
Both foreign individual and institutional investors continued to be net buyers but with lesser intensity during the week. Mesaieed Petrochemical Holding Company (MPHC), whose group companies have established positions in the petrochemical segment, says it is well-positioned to withstand the challenging economic times ahead.
Telecom equities plummeted 3.07%, real estate (1.85%) and transport (1.5%); while insurance shot up 3.17%, consumer goods (1.62%) and insurance and banks and financial services (0.11% each) during the week that saw Gulf International Services (GIS) subsidiary Gulf Helicopters say it will deploy about a dozen helicopters in the next five to six years.
The 20-stock Total Return Index shed 0.51%, All Share Index (comprising wider constituents) by 0.22% and Al Rayan Islamic Index by 0.28% during the week.
Of the 43 stocks, only 17 gained, while 24 declined and two were unchanged. Six of the 12 banks and financial services, five of the nine industrials, four each of the eight consumer goods and the four realty, all of the three transport and all of the two telecom stocks closed lower during the week.
Major losers included GIS, Vodafone Qatar, Mazaya Qatar, MPHC, Ooredoo, Nakilat, Gulf Warehousing, Qatar Islamic Bank, Commercial Bank and Widam Food; even as QNB, Industries Qatar, Qatari Investors Group and al khaliji bucked the trend during the week that featured Vodafone Qatar, Ezdan and Barwa dominate the trading ring in terms of both volume and value.
Market capitalisation eroded 0.61% or more than QR3bn to QR677.59bn with mid, small and large cap equities falling 0.84%, 0.25% and 0.24% respectively; while micro caps rose 1.09%.
Micro, mid and small cap scrips have gained year-to-date 7.95%, 6% and 2.26% respectively; whereas large caps slumped 1.25%.
Local retail investors turned net sellers to the tune of QR57.56mn against net buyers of QR29.89mn the previous week.
Domestic institutions’ net selling weakened to QR14.39mn compared to QR121.54mn the week ended February 12.
Non-Qatari retail investors’ net buying fell to QR43.17mn against QR55.79mn the previous week.
Foreign institutions’ net buying also fell to QR28.78mn compared to QR35.87mn the week ended February 12.
A total of 63.31mn shares valued at QR2.66bn changed hands across 28,704 transactions during the week.
The real estate sector saw a total of 14.96mn equities worth QR406.76mn change hands across 5,417 deals.
The telecom sector saw 12.79mn stocks worth QR253.7mn trade in 3,796 transactions and as many as 12.73mn banks and financial shares valued at QR796.35mn change hands across 6,833 deals.
The industrials sector saw a total of 9.75mn stocks worth QR650.06mn trade across 7,326 transactions.
The market saw a total of 6.73mn consumer goods equities valued at QR313.01mn change hands across 3,282 deals.
The transport segment recorded 4.83mn shares valued at QR154.47mn trade in 1,365 transactions and the insurance saw a total of 1.51mn equities worth QR90.62mn trade across 685 deals.
In the debt market, there was no trading of treasury bills and government bonds during the week.