The Qatar Stock Exchange (QSE) declined 338.57 points or 3.4% to 9,682.57 vs. the previous week. Market capitalisation decreased by 3.3% to QR581.6bn from QR601.3bn at the end of the previous trading week.
Of the 54 companies traded, seven ended higher, while 47 ended lower. Qatar Cinema & Film Distribution (QCFS) was the best performing stock for the week, climbing 5.3%. Meanwhile, Estithmar Holding (IGRD) was the worst performing stock for the week, declining 7.9%.
Qatar Islamic Bank (QIBK), QNB Group (QNBK) and Ooredoo (ORDS) were the main contributors to the weekly index decline, shaving off 78.12, 40.25 and 36.45 points from the index, respectively.
Traded value during the week declined 32.6% to QR1,732.1mn vs. QR2,570.6mn in the prior trading week. QNBK was the top value stock traded during the week with total traded value of QR192.2mn.
Traded volume fell 36.4% to 611.5mn shares compared with 962.1mn shares in the prior trading week. The number of transactions rose 13.7% to 124,004 vs. 109,125 in the prior week. BLDN was the top volume stock traded during the week with total traded volume of 62.8mn shares.
Foreign institutions turned bearish, ending the week with net selling of QR217.0mn vs. net buying of QR434.5mn in the prior week. Qatari institutions were bullish with net buying of QR136.9mn vs. net selling of QR430.7mn in the week before. Foreign retail investors ended the week with net buying of QR25.0mn vs. net selling of QR5.2mn in the prior week. Qatari retail investors ended the week with net buying of QR55.1mn vs. net buying of QR1.4mn.
Global foreign institutions now have a net bearish position on Qatari equities of $32.0mn YTD, while GCC institutions remained net sellers by $6.1mn.
The index closed lower at -3.04 % for the week and printed 9,682.57 last. The index breached below the 10,000 psychological level and thereafter witnessed heavy profit-booking, closing at its 52-week low. The downside trend is likely to continue and target 9,500, followed by 9,350, unless the index captures the 10,000 level.
