Weekly Market Report
The Qatar Exchange (QE) Index gained 97.13 points, or 0.93%, during the week, to close at 10,486.23 points. Market capitalisation increased by 0.99% to reach QR559.5bn as compared to QR554bn at the end of the previous week. Of the 42 listed companies, 24 companies ended the week higher while 15 fell and 3 remained unchanged. Widam Food Company (WDAM) was the best performing stock with a gain of 9.25%; the stock is down 5.61% year-to-date (YTD). The stock was also actively traded with 1.2mn shares traded during the week. Vodafone Qatar (VFQS) was the worst performing stock with a decline of 3.21% on 22.3mn shares traded; the stock is up 37.37% YTD.
QNB Group (QNBK) was the biggest contributor to the QE Index’s weekly gain. The stock contributed 34.6 points to the index’s weekly gain; QNBK is up 2.35% week-over-week (WoW) and 32.9% YTD. Industries Qatar (IQCD) was the second biggest contributor adding 26.0 points; the stock has gained 1.63% WoW.
On the other hand, Masraf Al Rayan (MARK) after two weeks of significant contribution to the QE Index’s weekly gain dragged it by 11.0 points during the week. MARK is up 35.94% YTD and hit a 52-week high of QR34.30 during Sunday’s (December 08, 2013) trading session. Vodafone Qatar (VFQS) shaved the index down by 5.4 points WoW.
Trading value during the week increased by 27.24% to reach QR2bn vs QR1.6bn in the prior week. The Banks and Financial Services led the trading value during the week, accounting for 33.0% of the total equity trading value.
Trading volume increased by 13.38% to reach 63.2mn shares vs 55.7mn shares in the prior week. The number of transaction rose by 14.42% to reach 25,891 transactions versus 22,628 transactions in the prior week. The Telecoms sector led the trading volume, accounting for 35.5% of the total.
Foreign institutions remained bullish for the week with net buying of QR149.4mn vs net buying of QR29mn in the prior week. Qatari institutions remained bearish with net selling of QR12.3mn vs. net selling of QR62.1mn the week before. Foreign retail investors remained bearish for the week with net selling of QR19.0mn vs QR33mn in the prior week. Qatari retailer investors turned bearish with net selling of QR118.6mn vs net buying of QR65.9mn the week before.
The GCC markets remained mixed during the week. Dubai’s benchmark index was the top performer, surging by 4.8% WoW; it is up 94.6% YTD. On the other hand, Kuwait’s index retreated by 0.8% WoW.