The Qatar Stock Exchange (QSE) index declined 175.39 points, or 1.93%, during the shortened trading week - given the Eid holidays - to close at 8,922.52. Market capitalisation fell by 2.14% to QR488.9bn versus QR499.5bn at the end of the previous trading week. Of the 45 listed companies, 13 ended the week higher, while 30 declined and two remained unchanged. Qatar Fuel (QFLS) was the best performing stock for the week with a gain of 2.15% on 96.7k shares traded. On the other hand, Doha Insurance Co (DOHI) was the worst performing stock for the week with a decline of 7.38% on 1,022 shares traded.
QNB Group (QNBK), Qatar Islamic Bank (QIBK), and Commercial Bank of Qatar (CBQK) were the primary contributors to the weekly index decline. QNBK was the biggest contributor to the index’s weekly decline, deleting 62.7 points from the index. QIBK was the second biggest contributor to the mentioned losses, shaving off 33.0 points from the index. Moreover, CBQK deleted 24.2 points from the index. However, Industries Qatar (IQCD) added 11.9 points to the index.
Trading value during the week decreased by 84.93% to reach QR598.3mn versus QR4.0bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 61.16% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 16.64% of the total. QNB Group (QNBK) was the top value traded stock during the week with total traded value of QR233.7mn.
Trading volume decreased by 79.84% to reach 12.5mn shares versus 62.0mn in the prior week. The number of transactions decreased by 65.84% to reach 9,017 versus 26,399 transactions in the prior week. The banks and financial services sector led the trading volume, accounting for 40.13%, followed by the real estate sector, which accounted for 23.49% of the overall trading volume. Masraf Al Rayan (MARK) was the top volume traded stock during the week with 1.7mn shares.
Foreign institutions turned bearish with net selling of QR38.9mn versus net buying of QR1.3bn in the prior week. Qatari institutions remained bearish with net selling of QR2.3mn versus net selling of QR995.5mn in the week before. Foreign retail investors remained bullish with net buying of QR0.4mn versus net buying of QR8.7mn in the prior week. Qatari retail investors turned bullish with net buying of QR40.7mn versus net selling of QR303.5mn the week before.
Foreign institutions bought (net basis) $1.3bn worth of Qatari equities year-to-date.
