Gulf Times - Gulf Times Business
Weekly Market Report
The Qatar Stock Exchange (QSE) index increased 87.21 points or 0.86% during the trading week to close at 10,368.17. Market capitalisation increased by 0.51% to QR581.5bn versus QR578.5bn at the end of the previous trading week. Of the 45 listed companies, 20 companies ended the week higher, while 24 declined and one remained unchanged. Qatar Cinema & Film Distribution ( QCFS) was the best-performing stock for the week with a gain of 20.51% on 2,034 shares traded. On the other hand, Ahli Bank (ABQK) was the worst performing stock for the week with a decline of 4.1% on 4,037 shares traded.
Woqod (QFLS), Masraf Al Rayan (MARK) and Ooredoo (ORDS) were the primary contributors to the weekly index gain. QFLS was the biggest contributor to the index’s weekly gain, adding 31.9 points to the index. MARK was the second biggest contributor to the mentioned gain, contributing 28.1 points to the index. Moreover, ORDS tacked on 23.6 points to the index. On the other hand, QNB Group (QNBK) deleted 16.8 points from the index.
Trading value during the week increased by 11.1% to QR1,106.1mn, versus QR994.1mn in the prior week. The Banks and Financial Services sector led the trading value during the week, accounting for 44.3% of the total trad- ing value. The Industrials sector was the second-biggest contributor to the overall trading value, accounting for 16.1% of the total trading value. QNBK was the top value traded stock during the week with a total traded value of QR236.4mn.
Trading volume increased by 14% to reach 29.1mn shares versus 25.6mn shares in the prior week. The number of transactions rose by 31% to reach 19,972 transactions versus 15,264 transactions in the prior week. The Banks and Financial Services sector led the trading volume, accounting for 32.6%, followed by the Real Estate sector which accounted for 26.5% of the overall trading volume. Qatar First Bank (QFBQ) was the top volume traded stock during the week with 2.8mn shares.
Foreign institutions remained bullish with net buying of QR359.4mn vs net buying of QR232.1mn in the prior week. Qatari institutions remained bearish with net selling of QR80.5mn vs net selling of QR13.8mn in the week before. Foreign retail investors turned bearish with net selling of QR12.1mn vs net buying of QR3.6mn in the prior week. Qatari retail investors remained bearish with net selling of QR266.8mn vs net selling of QR221.9mn the week before. Foreign institutions bought (net basis) ~$2.10bn worth of Qatari equities YTD.