The Qatar Stock Exchange (QSE) Index gained 261.68 points, or 1.86%, during the week, to close at 14,350.50 points. Market capitalisation increased by 2.0% to reach QR762.6bn compared to QR747.6bn at the end of the previous week. Of the 43 listed companies, 31 companies ended the week higher, while 12 fell. Islamic Holding Group (IHGS) was the best performing stock for the week, with a gain of 11.4% on 1.6mn shares traded; the stock is up 156.3% year-to-date (YTD). Ahli Bank (ABQK) was the worst performing stock, with a decline of 1.5% on only 6,990 shares traded. The stock is still up 27.6% YTD.
During the week, the QSE announced that QSE Index, QSE All Share and QSE Al Rayan Islamic Index will be rebalanced effective October 1. Ezdan Holding Group (ERES) and Mazaya Qatar Real Estate Development (MRDS) will replace Al Khalij Commercial Bank (KCBK) and Al Meera Consumer Goods Company (MERS) in the QSE Index. ERES joins the QSE Index after having recorded a share velocity of 8.41% over the preceding 12 months (the stock hadn’t previously met the 5% QSE Index threshold). Aamal Company (AHCS) and ERES will replace Widam Food Company (WDAM) and Zad Holding Company (ZHCD) in the QSE Al Rayan Islamic Index. In the QSE All Share Index, ERES, Mannai Corporation (MCCS) and Mesaieed Petrochemical Holding Company (MPHC) were included. Going Forward from October 1, 2014, all 43 listed stocks will be included in the QSE All Share Index and related sector index calculations.
Trading value during the week decreased by 9.9% to reach QR3.3bn vs QR3.7bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 42.0% of the total equity trading value. Ezdan Holding (ERES) was the top value traded stock during the week with total traded value of QR494.4mn.
Trading volume decreased by 3.0% to reach 80.8mn shares vs 83.3mn shares in the prior week. The number of transactions fell by 5.2% to reach 33,675 transactions versus 35,532 transactions in the prior week. The real estate sector led the trading volume, accounting for 39.9%. ERES was the top volume traded stock during the week with total traded volume of 24.9mn shares.
Foreign institutions remained bullish during the week with net buying of QR263.9mn vs QR49.3mn in the prior week. Qatari institutions turned bearish with net selling of QR288.4mn vs net buying of QR104.1mn the week before. Foreign retail investors remained bearish for the week with net selling of QR57.9mn vs net selling of QR45.6mn in the prior week. Qatari retail investors turned bullish with net buying of QR82.8mn vs net selling of QR107.7mn the week before.
Thus far in 2014, the QSE has witnessed a net foreign portfolio investment inflow of $2.4bn.
