The Qatar Stock Exchange (QSE) declined by 70.74 points or 0.7% to 10,032.48 vs. the previous week. Market capitalisation declined by 1.1% to QR601.9bn from QR608.8bn at the end of the previous trading week.
Of the 54 companies traded, 17 ended higher, two were unchanged, while 35 ended lower. Dlala (DIBS) was the best performing stock for the week, rising 22.6%. Meanwhile, Zad Holding (ZHCD) was the worst performing stock for the week, decreasing 7.4%.
QNB Group (QNBK), Nakilat (QGTS) and Qatar International Islamic Bank (QIIK) were the main contributors to the weekly index decline, shaving off 64.40, 21.94 and 8.71 points from the index, respectively.
Traded value during the week climbed 268.9% to QR1,716.3mn vs. QR465.2mn in the prior trading week. QNBK was the top value stock traded during the week with total traded value of QR276.2mn.
Traded volume jumped 339.0% to 642.8mn shares compared with 146.4mn shares in the prior trading week. The number of transactions rose by 1,274.5% to 167,271 vs. 12,170 in the prior week. Baladna (BLDN) was the top volume stock traded during the week with total traded volume of 78.1mn shares.
Foreign institutions turned bearish, ending the week with net selling of QR65.6mn vs. net buying of QR11.3mn in the prior week. Qatari institutions remained bullish with net buying of QR54.7mn vs. net buying of QR6.0mn in the week before. Foreign retail investors ended the week with net buying of QR1.3mn vs. net selling of QR2.3mn in the prior week. Qatari retail investors ended the week with net buying of QR9.6mn vs. net selling of QR14.9mn.
Global foreign institutions remained net sellers of Qatari equities by $76.6mn YTD, while GCC institutions remained net sellers by $24.2mn.
The index closed slightly down by 0.7% for this week and printed 10,032.5 last. The index has been in a down-leg for the past a few months and it reached the 10,000 support level. It is imperative for the index to stay above the psychological level and it could be a place to take some risk around here.
