Business

Weekly Market Report

Weekly Market Report

March 14, 2015 | 10:17 PM

The Qatar Stock Exchange (QSE) index declined by 58.76 points, or 0.48%, during the week, to close at 12,080.66. Market capitalisation fell by 0.54% to reach QR656.9bn compared to QR660.5bn at the end of the previous week. Of the 43 listed companies, 17 ended the week higher, while 24 fell and 2 remained unchanged. Qatar General Insurance & Reinsurance Co (QGRI) was the best performing stock for the week, with a gain of 15.4% on only 1,526 shares traded. On the other hand, Qatar Industrial Manufacturing Co (QIMD) was the worst performing stock with a decline of 9.0% on 163,481 shares traded.Industries Qatar (IQCD), Ooredoo (ORDS) and Nakilat (QGTS) were the biggest contributors to the index’s weekly decline. IQCD was the biggest contributor, adding 28.9 points to the index’s weekly fall of 58.8 points. ORDS contributed 26.6 points. ORDS reported lacklustre results and QGTS went ex-dividend during the week. United Development Co (UDCD) also contributed 12.5 points to the index’s weekly decline. On the other hand, Masraf Al Rayan (MARK), Milaha (QNNS) and Qatar International Islamic Bank (QIIK) positively contributed toward the QSE Index. MARK added 42.8 points followed by QNNS (13.6 points) and QIIK (5.1 points). Trading value during the week increased by 15.8% to reach QR1.8bn vs QR1.5bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 29.2% of the total equity trading value. The real estate sector was the second biggest contributor, accounting for 25.5% of the total trading value. Barwa Real Estate Co (BRES) was the top value traded stock during the week with QR326.4mn.Trading volume increased by 26.0% to reach 37.9mn shares vs 30.1mn in the prior week. The number of transactions increased by 20.6% to reach 23,039 versus 19,102 in the prior week. The real estate sector led the trading volume, accounting for 34.8%, followed by the banks and financial services sector, which accounted for 24.5% of the overall trading volume. BRES was also the top volume traded stock during the week with total traded volume of 6.8mn shares.Foreign institutions remained bearish during the week with net selling of QR98.1mn vs net selling of QR74.1mn in the prior week. Qatari institutions remained bullish with net buying of QR104.5mn vs net buying of QR22.8mn the week before. Foreign retail investors remained bearish for the week with net selling of QR50.4mn vs net selling of QR5.3mn in the prior week. Qatari retail investors remained bullish with net buying of QR43.9mn vs net buying of QR55.6mn the week before. In 2015 YTD, foreign institutions sold (on a net basis) $42mn worth of Qatari equities.

March 14, 2015 | 10:17 PM