QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...
Daily market report
1. QE Intra-Day Movement Market Indicators 26 Dec 12 25 Dec 12 %Chg.
8,400 Value Traded (QR mn) 131.1 103.9 26.2
Exch. Market Cap. (QR mn) 457,885.9 460,006.4 (0.5)
8,380 Volume (mn) 3.3 2.3 42.0
Number of Transactions 1,990 1,504 32.3
8,360 Companies Traded 40 39 2.6
Market Breadth 7:27 9:20 –
8,340 Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 11,269.96 (0.6) (1.4) 1.0 N/A
8,320 All Share Index 2,004.67 (0.6) (1.3) 4.1 10.0
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00
Banks 1,949.74 (0.8) (1.7) (1.3) 10.9
Qatar Commentary Industrials 2,608.04 (0.2) (0.7) 14.3 10.5
The QE index fell 0.6% to close at 8,327.4. Losses were led by the Real Estate Transportation 1,339.40 (1.0) (1.4) (9.2) 10.7
and Transportation indices, declining 1.2% and 1.0% respectively. Top losers Real Estate 1,585.55 (1.2) (1.3) (5.4) 3.9
were Al Ahli Bank and Mazaya Qatar Real Estate Development, declining 3.6% Insurance 1,900.34 (0.7) (0.6) 8.4 11.4
and 2.5% respectively. Among the top gainers, Islamic Holding Group gained Telecoms 1,055.89 (0.3) (1.4) 10.9 11.8
1.2%, while Medicare Group rose 0.5%. Consumer 4,653.45 (0.1) (0.5) 37.4 12.8
GCC Commentary GCC Top Gainers## Exchange Close# 1D% Vol. ‘000 YTD%
Saudi Arabia: The TASI index rose marginally to close at 6,866.7. Gains were Deyaar Development Dubai 0.34 5.6 30,316.9 59.6
led by the Transport and Media & Publishing indices, rising 1.8% and 1.6%
respectively. Saudi Industrial Export Co. gained 7.8%, while Saudi Transport National Industries Co. Kuwait 0.34 4.7 130.4 19.6
and Investment Co. was up 6.7%. Ahli United Bank Bahrain 0.59 4.5 196.4 (7.6)
Dubai: The DFM index gained 0.6% to close at 1,603.7. Gains were led by the
Real Estate & Construction and Investment & Financial Services indices, both Gulf Cable & Elect. Ind. Kuwait 1.26 3.3 23.5 (11.3)
gaining 0.8%. Shuaa Capital jumped 15.0%, while Al Salam Bank - Bahrain Ithmaar Bank Bahrain 0.17 3.0 100.0 161.5
was up 14.9%.
## #
Abu Dhabi: The ADX benchmark index fell 0.4% to close at 2,618.7. The GCC Top Losers Exchange Close 1D% Vol. ‘000 YTD%
Energy index declined 2.7%, while the Industrial index was down 2.1%. Gulf
Amana Coop. Ins. Co. Saudi Arabia 150.00 (9.9) 56.9 338.6
Pharm. Industries fell 7.8%, while Abu Dhabi Nat. Energy Co. declined 2.9%.
Kuwait: The KSE index gained 0.5% to close at 5,950.4. The Technology Gulf Pharm. Industry Abu Dhabi 2.72 (7.8) 62.9 34.0
index rose 2.1%, while the Basic Material index was up 1.9%. Zima Holding
Al Ahli Bank Qatar 51.00 (3.6) 1.0 (2.9)
Co. surged 15.9%, while Kuwait Foundry Co. gained 9.3%.
Oman: The MSM index declined 0.1% to close at 5,668.1. Both the Industrial Abu Dhabi Nat. Energy Abu Dhabi 1.35 (2.9) 5,101.1 12.5
and Services & Insurance indices fell 0.4%. National Finance declined 2.3%,
ACE Arabia Saudi Arabia 86.00 (2.8) 955.5 55.0
while Oman Oil Marketing was down 2.1%.
Source: Bloomberg (# in Local Currency) (## GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD% Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Islamic Holding Group 38.70 1.2 1.3 52.7 Al Ahli Bank 51.00 (3.6) 1.0 (2.9)
Medicare Group 37.40 0.5 36.1 53.0 Mazaya Qatar Real Estate Dev. 10.64 (2.5) 146.9 36.2
Dlala Brokerage & Inv. Holding Co. 34.90 0.4 4.1 139.9 Gulf International Services 30.05 (2.1) 106.3 38.6
Qatar Industrial Manufacturing Co. 52.30 0.4 9.0 (8.2) Masraf Al Rayan 24.89 (2.0) 1,058.5 (10.6)
Al Meera Consumer Goods Co. 157.50 0.3 6.8 4.2 Vodafone Qatar 8.33 (1.9) 80.9 10.3
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD% Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
Masraf Al Rayan 24.89 (2.0) 1,058.5 (10.6) Masraf Al Rayan 24.89 (2.0) 26,467.6 (10.6)
Qatar Gas Transport Co. 15.31 (1.2) 335.5 (12.6) Qatar National Bank 130.00 0.0 22,291.9 (5.9)
Barwa Real Estate Co. 27.15 (1.8) 335.2 (9.3) Industries Qatar 155.00 (0.1) 16,604.9 16.5
Al Khaliji 16.85 (0.1) 301.1 (1.9) Barwa Real Estate Co. 27.15 (1.8) 9,118.4 (9.3)
Qatar National Bank 130.00 0.0 171.6 (5.9) Commercial Bank of Qatar 70.90 (0.1) 8,729.9 (15.6)
Source: Bloomberg (* in QR)
Exch. Val. Traded Exchange Mkt. Dividend
Regional Indices Close 1D% WTD% MTD% YTD% P/E** P/B**
($ mn) Cap. ($ mn) Yield
Qatar* 8,327.38 (0.6) (1.4) (0.9) (5.1) 36.02 125,781.2 9.5 1.6 4.4
Dubai 1,603.71 0.6 0.1 (0.3) 18.5 53.05 49,273.8 11.6 0.7 3.9
Abu Dhabi 2,618.68 (0.4) (0.0) (2.1) 9.0 18.38 78,851.1 8.9 1.0 5.0
Saudi Arabia 6,866.71 0.0 (0.3) 5.1 7.0 1,146.93 374,861.2 14.2 1.8 3.6
Kuwait 5,950.38 0.5 (0.6) 0.1 2.3 88.04 104,464.6 30.3 1.1 3.3
Oman 5,668.05 (0.1) (0.3) 2.4 (0.5) 7.05 19,924.7 10.7 1.5 4.4
Bahrain 1,051.71 1.2 1.6 0.3 (8.0) 0.34 18,999.5 11.7 0.8 4.7
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any)
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2. Qatar Market Commentary
The QE index fell 0.6% to close at 8,327.4. The Real Estate and
Overall Activity Buy %* Sell %* Net (QR)
Transportation indices led the losses. The index declined on the
back of selling pressure from non-Qatari shareholders despite Qatari 78.83% 57.65% 27,781,904.98
buying support from Qatari shareholders. Non-Qatari 21.16% 42.35% (27,781,904.98)
Al Ahli Bank and Mazaya Qatar Real Estate Development were
Source: Qatar Exchange (* as a % of traded value)
the top losers, declining 3.6% and 2.5% respectively. Among the
top gainers, Islamic Holding Group gained 1.2%, while Medicare
Group rose 0.5%.
Volume of shares traded on Wednesday rose by 42.0% to 3.3mn
from 2.3mn on Tuesday. Further, as compared to the 30-day
moving average of 2.7mn, volume for the day was 20.1% higher.
Masraf Al Rayan and Qatar Gas Transport Co. were the most
active stocks, contributing 32.0% and 10.2% to the total volume
respectively.
Global Economic Data
Global Economic Data
Date Market Source Indicator Period Actual Consensus Previous
12/26 US S&P S&P/CS 20 City MoM% SA October 0.66% 0.48% 0.38%
12/26 US S&P S&P/CS Composite-20 YoY October 4.31% 4.00% 2.97%
12/26 US S&P S&P/CaseShiller Home Price Ind October 146.08 145.93 146.17
Source: Bloomberg (s.a. = seasonally adjusted; n.s.a. = non-seasonally adjusted; w.d.a. = working day adjusted)
News
Qatar certified laboratories with three month validity as well as a
signature and seal of the laboratory. (Peninsula Qatar)
QCB agrees on AUB’s stake sale in ABQ – The Qatar Central
Realty sector registers decline in transactions – Ezdan Real
Bank has reportedly agreed on Ahli United Bank (Bahrain)
Estate Company said Qatar’s realty sector witnessed a decline
selling its stake in Ahli Bank of Qatar (ABQK) to a number of
in trade in the third week of December. The value of real estate
Qatari Investors. (Al-Sharq)
transactions fell by 44.3% on a week-to-week basis to
National Leasing to start awarding Lusail Land – National QR470.3mn and the number of deals by 3.6% to 133 in the third
Leasing Holding Company will reportedly start distributing 895 week of this month. The value of daily rate of transactions of real
separate parcels of land on a 1mn square meter development in estate was about QR118mn against QR169mn in the previous
Lusail today. (Al-Sharq) week. Al Rayan Municipality ranked first in terms of trading
value. It saw QR114.6mn worth deals, accounting for 24.2% of
Mazaya Qatar studying purchase offer for one of its
the total transactions of the week. (Gulf-Times.com)
investment properties – Mazaya Qatar Real Estate
Development received a purchase offer for one of its investment
International
properties for a consideration of QR170mn and the company is
studying this offer. (QE) Treasury unveils plan to buy time under debt ceiling – The
QIA ups stake in Tiffany & Co. – According to a regulatory US Treasury announced the first of a series of measures that
filing, the Qatar Investment Authority (QIA) has raised its should push back the day when the government will exceed its
investment stake in Tiffany & Co. to 7.8% from 5.2%. legal borrowing authority as imposed by Congress by around
(Bloomberg) two months. Without any action, the government is set to reach
its $16.4tn debt ceiling on December 31. To cut government
QNB ATMs to accept China UnionPay cards – QNB will spending and delay bumping up against the debt ceiling, the
accept China UnionPay (CUP) cards on its ATMs across Qatar. Treasury will suspend issuance of state and local government
So far, it has been rolled out to 10 points of sales and all QNB series securities – known as "slugs" – beginning on December
ATMs across Qatar, with more POS to follow in the coming 28. Investments in a government employee pension fund will
months. (Gulf-Times.com) also be suspended, along with some other measures, although
Islamic Holding to hold Ordinary General Assembly meeting Treasury did not give dates for when these other measures will
on February 03 – Islamic Holding Group is scheduled to hold its begin. (Reuters)
Ordinary General Assembly meeting on February 03, 2013. In IMF: France should review 2013 deficit target with EU
case the required quorum is not maintained, an alternate partners – The International Monetary Fund (IMF) said France
meeting will be scheduled on February 06, 2013. (QE) should worry more about the credibility of its efforts to cut back
Qatar bans import, trade of steel below grade 500 – Qatar on flab in public finances than whether or not it meets the EU's
has banned the import and trade of construction steels below 3% of GDP target for the budget deficit immediately. The IMF
grade 500 to increase the quality of the building materials in the comments are the latest sign that France, hanging on grimly to
country. The Ministry of Environment has made mandatory a the last of its top AAA credit ratings, may need - and could
laboratory test report to import construction steels and receive - some leeway on targets that are threatened by poor
announced to accept only those issued by the ISO 17025 growth rates across the euro zone. (Reuters)
Page 2 of 5
3. German ministry wants to speed up privatization – KBR, AYTB sign Saudi Aramco pact valued at $140mn-
According to an internal ministry document, German Economy $170mn – KBR and AYTB have signed 7-year contract to
Minister Philipp Roesler wants to push the pace of government provide refinery maintenance services for Saudi Aramco Total
privatization efforts including in companies such as Deutsche Refining and Petrochemical Company (Satorp) at a new
Telekom. According to the document, the ministry will push for 400k/bpd refinery in Jubail, Saudi Arabia. Production at the
the creation of an expert commission to come up with concrete refinery is set to begin in 2013. (Bloomberg)
proposals on where the state can reduce its holdings. The sales
Saudi Kayan forms JV with Sadara, SAAC for Butanol
can help Germany achieve a balanced budget well before the
production – Saudi Kayan Petrochemical Company has signed
2016 target. (Reuters)
an agreement with Sadara Chemical Company (Sadara) and
China warns of financial risks as bank loans soar – The Saudi Acrylic Acid Company (SAAC) to establish Saudi Butanol
Chinese Finance Ministry warned that China’s financial system Company. The new plant will be established in Jubail Industrial
is facing increasing risks due to soaring bank loans, with lending City and will be operated by Tasnee Company. The plant is
to the property sector and local governments a particular scheduled to be operational by 1Q2015. The estimated cost of
concern. Chinese banks extended 7.75tn yuan ($1.2tn) in new the project is SR1.9bn. The design capacity of the plant will be
loans in the first 11 months of the year, 919.1bn yuan more than 330 thousand tons per year of normal butanol material and 11
the same period last year. Lending to the property sector totaled thousand tons per year of iso butanol. Under this agreement, the
982.1bn yuan in the first three quarters of the year, 10.2bn yuan three partners will have equal share in the production, which will
less than the same period in 2011. (Gulf-Times.com) be used for downstream industries and sale in the domestic and
global markets. (Tadawul)
Regional
Advanced Petrochemical Company pays final installment of
EC Harris report: Qatar, UAE among world top Saudi Industrial Development Fund loan – Advanced
infrastructure markets – According to a new report by global Petrochemical Company has paid the final installment of its
consultancy EC Harris, Qatar and the UAE have been named Saudi Industrial Development Fund loan. With this payment, the
among the world's top four markets for investing in infrastructure company has fully paid-off the total loan amount of SR400mn.
projects. The firm's Infrastructure Investment Index ranked 40 The loan amount has obtained by the company in September
countries, according to the ease in which lenders could secure a 2006 to finance the construction of its plants in Jubail. (Tadawul)
return on the finance they provide for large scale infrastructure UAE banks’ bad loan provisions drop for first time since
schemes within the transportation, power and utilities sectors. 2008 crisis – According to the UAE Central Bank data, UAE
Qatar was ranked second globally and the UAE was placed banks slightly cut bad loan provisions in October for the first time
fourth while Saudi Arabia stood at 11th position. since they launched a provisioning drive to bolster their financial
GPCA: Gulf petrochem industry set to expand – The Gulf position in the wake of the 2008 devastating global financial
Petrochemicals & Chemicals Association (GPCA) said the Gulf crisis. From around AED65.4bn at the end of September, the
petrochemicals industry is bracing to sustain competitiveness. banks’ provisions edged down to nearly AED65.3bn at the end
Gulf producers are exploring opportunities to expand capacity, of October. Total provisions taken by banks stood at around
diversify production and realize the region’s full potential. Latest AED6.1bn through 2011, while they surged to around AED10bn
GPCA data show that regional petrochemicals capacity grew by in 2012. The combined assets of the 52 banks slipped to
10% in 2011, reaching 121mn tons per annum. Between 2007 AED1,762.9bn at the end of October from AED1,763.9bn at the
and 2011 regional petrochemicals capacity expanded at 13% end of September. Deposits surged to AED1,262.3bn from
CAGR. (Peninsula Qatar) about AED1,143.8bn, while loans remained stagnant at
AED1,103.2bn. (GulfBase.com)
Gulf halal food imports to rise to $53bn by 2020 – The Gulf
region’s halal food industry is set to grow at a fast pace in the United Arab Bank obtains $125mn loan – United Arab Bank
coming years with the total food import to the region expected has secured a club loan worth $125mn for general corporate
to double by 2020. According to estimates of the Economist purposes. The two-year facility, which can be extended to three
Intelligence Unit, food imports to the Gulf region stood at years, was signed at a margin of 150 basis points over the
$25.8bn in 2010, which is set to grow to $53.1bn by 2020. In the LIBOR. The loan was coordinated by Commerzbank, which also
UAE, imports are set to grow from $3bn in 2011 to $8.4bn by acted as lead arranger along with Standard Chartered Bank,
2020. (GulfBase.com) Commercial Bank of Qatar, National Bank of Abu Dhabi and
Emirates NBD. (Bloomberg)
Riyad Bank Board recommends distribution of cash
dividend of SR975mn for 2H2012 – Riyad Bank’s Board has Al Habtoor Group: IPO delayed on scarce investment
recommended SR975mn dividend distribution for 2H2012 at prospect – Al Habtoor Group, controlled by billionaire Khalaf Al
SR0.65 per share, after deduction of Zakat. This brings the total Habtoor, postponed an initial share sale as it did not see
distribution of dividends for the year 2012 to SR1,950mn at sufficient opportunities to invest the proceeds and may consider
SR1.3 per share, representing 13% of the share nominal value. reviving the plan in 2014. The company said it will rely on cash
(GulfBase.com) from operations to fund projects including a new skyscraper with
more than 800 luxury apartments on a canal in Dubai.
ZAIN announces payment of compensation amounts to (Bloomberg)
non-participant shareholders in the rights issue and the
refund of proceeds from sale of fractions of shares – Mobile Al Habtoor sees 2013 order backlog at AED40bn – Al
Telecommunications Company Saudi Arabia (Zain) has Habtoor Group said its JV with Leighton Holdings, Habtoor
announced the refund of proceeds from the sale of the Leighton Group (HLG), expects the order backlog to be at least
fractional proceeds resulting from the company’s capital AED40bn in 2013. The group said it is witnessing increased
reduction (221,519 shares in total) which amounted to demand for building across the Middle East. Al Habtoor also
approximately SR2.7mn (at SR12.02 per share). (Tadawul) said HLG has started seeing an increase in number of contracts,
some of them in Qatar, Abu Dhabi, Dubai, Saudi Arabia and
Iraq. (Bloomberg)
Page 3 of 5
4. Dubai to launch marine transport service – Dubai will launch
a first of its kind marine transport network with services including
Ferry Dubai, Water Taxi and Water Bus as part of the upcoming
New Year’s Eve celebrations. (GulfBase.com)
Gulf Related acquires land for Abu Dhabi project – Gulf
Related, a regional real estate development company, has
bought four key plots on Al Maryah Island in Abu Dhabi from
Mubadala Real Estate & Infrastructure (MREI) for development
of a new retail, residential area. Gulf Related said with this
purchase it will be able to deliver a further 288,200 square
meters gross floor area to the existing mixed use retail district at
Sowwah Square. (GulfBase.com)
GFH seeks to exit investments in India, Tunisia – According
to Gulf Finance House acting CEO Hisham al-Rayes, GFH is
seeking to exit assets in India and Tunisia to enter high-yield
investments. The company and its clients will also seek to
gradually sell stakes in the Tunis Financial Harbor project from
next year. al-Rayes added that the investment has a total value
of $300mn, of which 10% is owned by GFH. (Bloomberg)
Bank Muscat Director resigns – Bank Muscat’s Director H.E.
Abdul Salam bin Mohammed bin Abdullah Al Murshidi has been
appointed as Chief Executive Officer of the State General
Reserve Fund with Special Grade. As a result of this
appointment, he has resigned from his position on the Bank’s
Board of Directors. (MSM)
Page 4 of 5
5. Rebased Performance Daily Index Performance
140.0 1.8%
1.2%
130.0 1.2%
119.7 0.5% 0.6%
120.0
0.6%
110.0 0.0%
108.2
0.0%
100.0 101.1
106.0 (0.6%) (0.1%)
(0.4%)
90.0 (0.6%)
98.2
(1.2%)
80.0
Saudi Arabia
Kuwait
Bahrain
Abu Dhabi
Dubai
Qatar
Oman
Jan-10May-10Sep-10Jan-11May-11Sep-11Jan-12May-12Sep-12
4
QE Index S&P Pan Arab S&P GCC
Source: Bloomberg Source: Bloomberg
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,659.75 0.1 0.2 6.1 DJ Industrial 13,114.59 (0.2) (0.6) 7.3
Silver 30.01 0.2 0.0 7.8 S&P 500 1,419.83 (0.5) (0.7) 12.9
Crude Oil (Brent) 112.94 1.5 1.3 3.9 NASDAQ 100 2,990.16 (0.7) (1.0) 14.8
Euro 1.32 0.3 0.3 2.0 DAX * 7,636.23 0.0 0.0 29.5
Yen 85.63 1.0 1.7 11.3 FTSE 100 * 5,954.18 0.0 0.2 6.9
GBP 1.61 0.1 (0.2) 3.8 CAC 40 * 3,652.61 0.0 (0.2) 15.6
CHF 1.09 0.3 0.2 2.8 Nikkei 10,230.36 1.5 2.9 21.0
AUD 1.04 0.2 (0.2) 1.7 Shanghai 2,219.13 0.2 3.1 0.9
USD Index 79.62 (0.1) 0.0 (0.7) BSE Sensex 19,417.46 0.8 0.9 25.6
RUB 30.57 (0.3) (0.9) (4.9) Bovespa 60,959.79 (0.1) (0.1) 7.4
BRL 0.49 1.5 1.4 (9.0) RTS 1,526.34 0.8 0.9 10.5
Source: Bloomberg Source: Bloomberg (* closed on 26 December)
Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
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