The Qatar Stock Exchange (QSE) index declined 97.48 points, or 0.99%, during the week to close at 9,716.48. Market capitalisation decreased by 0.3% to QR526.7bn versus QR528.1bn at the end of the previous week. Of the 44 listed companies, 10 ended the week higher, while 33 fell and only one remained unchanged. Gulf International Services (GISS) was the best performing stock for the week with a gain of 5.6% on 3.8mn shares traded. On the other hand, Qatar Cinema & Film Distribution Co (QCFS) was the worst performing stock with a decline of 7.1% on 2,090 shares traded only.
Ezdan Holding Group (ERES), Qatar Insurance Co (QATI) and Industries Qatar (IQCD) were the primary contributors to the weekly index decline. ERES was the biggest contributor to the drop, shedding 39.5 points from the index. QATI was the second biggest contributor, erasing 13.7 points from the index. Moreover, IQCD deleted 11.1 points from the index. On the other hand, GISS contributed positively to the index, adding 11.5 points.
Trading value during the week decreased by 40.5% to reach QR794.3mn versus QR1.34bn in the prior week. The industrials sector led the trading value during the week, accounting for 35.2% of the total trading value. The banks and financial services sector was the second biggest contributor, accounting for 25.8% of the total trading value. GISS was the top value traded stock during the week with total traded value of QR145.8mn.
Trading volume decreased by 48.9% to reach 22.0mn shares versus 43.0mn in the prior week. The number of transactions decreased by 28.0% to reach 16,217 versus 22,522 in the prior week. The industrials sector led the trading volume, accounting for 28.1%, followed by the banks and financial services sector, which accounted for 26.7%. GISS was also the top volume traded stock during the week with total traded volume of 3.8mn shares.
Foreign institutions remained bullish during the week with net buying of QR3.7mn versus net buying of QR80.9mn in the prior week. Qatari institutions remained bearish with net selling of QR17.5mn versus net selling of QR85.8mn the week before. Foreign retail investors remained bearish for the week with net selling of QR2.8mn versus net selling of QR2.5mn in the prior week. Qatari retail investors remained bullish with net buying of QR16.6mn versus net buying of QR7.4mn the week before.
In 2016 year-to-date, foreign institutions bought (on a net basis) $403mn worth of Qatari equities.