The Qatar Exchange (QE) Index gained 141.05 points, or 1.45%, during the week, to close at 9,847.62 points. Market capitalization increased by 1.42% to reach QR539.3 billion (bn) as compared to QR531.8bn at the end of the previous week. Of the 42 listed companies, 30 companies ended the week higher, 9 fell and 3 remained unchanged. Masraf Al Rayan (MARK) was the best performing stock with a gain of 6.19%; the stock is up 21.02% year-to-date (YTD). Alijarah Holding Co. (NLCS) was the top decliner, down 5.03%; the stock is down 24.89% YTD.

The QE Index has been registering new highs since last several weeks, closing the holiday shortened week at a new 52 week high of 9,847.62. The banking sector principally contributed to the index’s gains with three banks among the top five index movers. MARK contributed 56.58 points to the index’s gains followed by QNB Group (QNBK) contributing 28.63 points. Also, Qatar International Islamic Bank (QIIK) and Doha Bank (DHBK) contributed 9.12 and 8.62 points, respectively. Majority of the banks enjoyed net foreign institutional (FII) buying interest. Al Khalij Commercial Bank (KCBK), DHBK, MARK and QIIK saw net FII buying of 540,000, 439.233, 150,000 and 121.095, respectively, for the week. Industries Qatar (IQCD) saw some buying support after the previous week’s declines, contributing 16.65 points to the index’s gains.

Dubai’s DFM Index continued to lead the Gulf Cooperation Council equity markets with a 3.1% weekly gain. This market has now appreciated by 64.8% for 2013. Emaar Properties (EMAAR) was the top contributor to the Dubai index’s gains adding 28.59 points to the benchmark. Saudi Arabia’s Tadawul Index climbed 2.0% for the week adding to its YTD gains, which is now 18.7%.

Trading value during the week decreased by 44.42% to reach QR1.0bn, as compared to QR1.9bn in the prior week. The Banks & Financial Services sector led the trading value during the week, accounting for 35.39% of the total equity trading value.

Trading volume decreased by 49.59% to reach 21.8 million (mn) shares, as against 43.2mn shares in the prior week. The number of transactions fell by 34.45% to reach 13,267 transactions versus 20,240 transactions in the prior week. The Banks & Financial Services sector led the trading volume, accounting for 40.21% of the total.

Foreign institutions remained bullish for the week with net buying of QR2.4mn versus QR3.9mn in the prior week. Non-Qatari individuals were net buyers of QR15.5mn versus net selling of QR2.2mn in the prior week. Qatari individuals were net buyers of QR18.5mn while being net sellers of QR124.6mn in the prior week. Finally, local institutions were net sellers of QR36.3mn versus net buying of QR123.0mn the week before.