Gulf Times - Gulf Times Business
Weekly Market Report
The Qatar Stock Exchange (QSE) index declined 40.95 points, or 0.41%, during the trading week to close at 9,861.53. Market capitalisation decreased by 0.4% to QR551.7bn versus QR553.7bn at the end of the previous trading week. Of the 45 listed companies, 15 ended the week higher, while 27 declined and three remained unchanged. Dlala Brokerage & Investment Holding Co (DBIS) was the best performing stock for the week with a gain of 5.5% on 182,646 shares traded. On the other hand, Ahli Bank (ABQK) was the worst performing stock for the week with a decline of 7.8% on 150 shares traded only.
Commercial Bank of Qatar ( CBQK), Qatar Islamic Bank ( QIBK) and Nakilat ( QGTS) were the primary contributors to the weekly index loss. CBQK was the biggest contributor to the index’s weekly loss, deleting 24.9 points from the index. QIBK was the second biggest contributor to the mentioned decline, erasing 9.6 points from the index. Moreover, QGTS removed 8.4 points from the index. On the other hand, Barwa Real Estate Co ( BRES) added 16.0 points to the index.
Trading value during the week decreased by 27.8% to QR744.3mn versus QR1.0bn in the prior week. The banks and financial services sector led the trading value during the week, ac- counting for 33.6% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 23.3% of the total trading value. QNB Group (QNBK) was the top value traded stock during the week with total traded value of QR118.5mn.
Trading volume decreased by 27.7% to reach 20.7mn shares versus 28.6mn shares in the prior week. The number of transactions decreased by 14.8% to reach 12,655 transactions versus 14,861 transactions in the prior week. The banks and financial services sector led the trading volume, accounting for 28.2%, followed by the Industrials sector, which accounted for 21.1% of the overall trading volume. QGTS was the top volume traded stock during the week with 2.6mn shares.
Foreign institutions remained bullish with net buying of QR68.0mn versus net buying of QR121.2mn in the prior week. Qatari institutions remained bearish with net selling of QR32.8mn versus net selling of QR17.8mn in the week before. Foreign retail investors remained bearish with net selling of QR7.1mn versus net selling of QR7.1mn in the prior week. Qatari retail investors remained bearish with net selling of QR28.1mn versus net selling of QR96.3mn the week before. Foreign institutions bought (net basis) $1.92bn worth of Qatari equities year-to-date.