The Qatar Stock Exchange (QSE) Index lost 623.67 points, or 5.28%, during the week, to close at 11,181.65 points. Market capitalisation decreased by 5.2% to reach QR618.6bn compared to QR652.2bn at the end of the previous week. Of the 43 listed companies, 2 companies ended the week higher, while 41 fell. QNB Group (QNBK) was the best performing stock for the week, with a gain of 4.9% on 1.3mn shares traded; the stock is up 22.1% year-to-date (YTD). On the other hand Islamic Holding Group (IHGS) was the worst performing with a decline of 34.3% on 1.1mn shares traded; the stock is still up 218.0% YTD.
On the back of weak international oil prices, regional equity markets witnessed continued selling pressure. Qatari market also felt the brunt with only two stocks in the QSE Index closing in positive territory during the week. Ezdan Holding Group (ERES), Industries Qatar (IQCD) and Barwa Real Estate Company (BRES) were the biggest contributors to the weekly index decline. ERES contributed 158.7 points to the index’s weekly decline of 623.7 points. IQCD contributed 109.5 points to the weekly index decline. BRES was the third biggest contributor, contributing 71.8 points. On the other hand, QNBK positively contributed 99.5 points to the index.
Trading value during the week increased by 47.7% to reach QR3.5bn vs QR2.4bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 35.2% of the total equity trading value. The Industrials sector was the second biggest contributor, accounting for 22.6% of the total trading value. GISS was the top value traded stock during the week with total traded value of QR301.0mn.
Trading volume increased by 83.2% to reach 82.1mn shares vs 44.8mn shares in the prior week. The number of transactions rose by 31.5% to reach 36,876 versus 28,038 transactions in the prior week. The real estate sector led the trading volume, accounting for 30.4%, followed by the banks and financial services sector, which accounted for 24.5% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total of 10.0mn shares.
Foreign institutions remained bearish during the week with net selling of QR219.0mn vs net selling of QR213.4mn in the prior week. Qatari institutions remained bullish with net buying of QR142.2mn vs net buying of QR67.5mn the week before. Foreign retail investors turned bearish for the week with net selling of QR86.7mn vs net buying of QR14.1mn in the prior week. Qatari retail investors remained bullish with net purchases of QR163.4mn vs net purchases of QR131.7mn the week before.
Thus far in 2014, the QSE has already witnessed net foreign portfolio investment inflow of $2.4bn.