The Qatar Stock Exchange (QSE) Index gained 270.94 points, or 2.01%, during the week, to close at 13,776.20 points. Market capitalisation increased by 1.0% to reach QR730.2bn compared to QR723.2bn at the end of the previous week. Of the 43 listed companies, 21 companies ended the week higher, while 18 fell and 4 remain unchanged. Medicare Group (MCGS) was the best performing stock for the week, with a gain of 11.02% on 0.53mn shares traded; the stock is up 162.9% year-to-date (YTD). Mesaieed Petrochemical Holding Company (MPHC) was the worst performing stock, with a decline of 9.26% on 8.7mn shares traded. The stock suffered due to MSCI reversing its decision to include it in the MSCI Emerging Markets Index.
Qatar Islamic Bank (QIBK), Masraf Al Rayan (MARK) and Industries Qatar (IQCD) were the biggest contributors to the weekly index gain. QIBK contributed 95.17 points to the index’s weekly gain of 270.94 points. The stock has been one of the best performing stocks in 2014 YTD with a price return of 79.42%. MARK contributed 57.04 points, the stock has also been one of the best performing stocks in 2014 YTD with a price return of 83.39%. IQCD was the third biggest contributor, providing 51.52 points.
On the other hand within the QE Index, Ooredoo (ORDS) and Qatari Investors Group (QIGD) ended in negative territory. ORDS shaved 36.05 points off the index; the stock is down 10.42% YTD. Furthermore, QIGD dragged the index down by 7.43 points; the stock is up 36.16% YTD.
Trading value during the week decreased by 5.0% to reach QR4.4bn vs QR4.6bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 36.1% of the total equity trading value. MRDS was the top value traded stock during the week with total traded value of QR576.0mn.
Trading volume also decreased by 2.0% to reach 103.0mn shares vs 105.1mn shares in the prior week. The number of transactions fell by 9.6% to reach 41,910 transactions versus 46,368 transactions in the prior week. The real estate sector led the trading volume, accounting for 46.1%. MRDS was also the top volume traded stock during the week with total traded volume of 24.1mn shares.
Foreign institutions remained bullish during the week with net buying of QR82.8mn vs QR496.3mn in the prior week. Qatari institutions remained bearish with net selling of QR16.6mn vs net selling of QR162.8mn the week before. Foreign retail investors turned bullish for the week with net buying of QR76.7mn vs net selling of QR28.9mn in the prior week. Qatari retail investors remained bearish with net selling of QR142.9mn vs net selling of QR304.5mn the week before. Thus far in 2014, the QE has already witnessed net foreign portfolio investment inflow of $2.2bn.
