The Qatar Stock Exchange (QSE) index declined 106.20 points, or 1.0%, during the trading week to close at 10,361.03. Market capitalisation dropped by 1.31% to QR556.1bn versus QR563.5bn at the end of the previous week. Of the 44 listed companies, 15 ended the week higher, while 29 fell and none remained unchanged. Medicare Group (MCGS) was the best performing stock for the week with a gain of 8.3% on 1.9mn shares traded. On the other hand, Qatar First Bank (QFBQ) was the worst performing stock with a decline of 10.1% on 3.9mn shares traded.
QNB Group (QNBK), Industries Qatar (IQCD) and Barwa Real Estate (BRES) were the primary contributors to the weekly index decline. QNBK was the biggest contributor, erasing 38.5 points to the index. IQCD was the second biggest contributor to the decline, deleting 12.7 points from the index. Moreover, BRES erased 10.2 points from the index. On the other hand, Masraf Al Rayan (MARK) added 28.3 points.
Trading value during the week increased by 132.76% to reach QR4.28bn versus QR1.84bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 43.81% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 18.72% of the total trading value. QNB Group (QNBK) was the top value traded stock during the week with total traded value of QR726.3mn.
Trading volume increased by 101.23% to reach 102.53mn shares versus 50.9mn in the prior week. The number of transactions increased by 51.69% to reach 31,697 versus 20,896 in the prior week. The banks and financial services sector led the trading volume, accounting for 37.38%, followed by the real estate sector, which accounted for 20.89% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total traded volume of 13.1mn shares.
Foreign institutions were significant buyers on passive fund flows as part of the FTSE Phase II rebalance with net buying of QR871.0mn versus net selling of QR23.2mn in the prior week. Qatari institutions remained bearish with significant net selling of QR675.9mn versus net selling of QR25.9mn the week before. Foreign retail investors were neutral for the week versus net buying of QR54.4mn in the prior week. Qatari retail investors remained bearish with net selling of QR195.1mn versus net selling of QR5.4mn the week before. The majority of the flows on the buy-side were driven by the FTSE Phase II inclusion of key Qatari stocks in the Emerging Markets Index.
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