QNB Weekly Market Report
January 07 2017 08:37 PM

The Qatar Stock Exchange (QSE) index gained 280.58 points, or 2.69%, during the week to close at 10,717.34. Market capitalisation increased by 2.19% to QR575.8bn versus QR563.7bn at the end of the previous week. Of the 44 listed companies, 32 ended the week higher, while 10 fell and two remained unchanged. Qatar Cinema and Film Distribution Co (QCFS) was the best performing stock for the week with a gain of 9.8% on 1,967 shares traded. On the other hand, Zad Holding Co (ZHCD) was the worst performing stock with a decline of 7.0% on 1,006shares traded.
Ezdan Holding (ERES), Masraf Al Rayan (MARK) and Qatar Insurance Co (QATI) were the primary contributors to the weekly index gain. ERES was the biggest contributor, adding 56.9 points to the index. MARK was the second biggest contributor to the gains, adding 35.9 points to the index. Moreover, QATI contributed 25.3 points to the index. On the other hand, Commercial Bank of Qatar (CBQK) deleted 1.7 points from the index.
Trading value during the week increased by 16.40% to reach QR1.1bn versus QR0.97bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 31.63% of the total trading value. The real estate sector was the second biggest contributor to the overall trading value, accounting for 22.18% of the total trading value. Industries Qatar (IQCD) was the top value traded stock during the week with total traded value of QR117.6mn.
Trading volume decreased by 4.51% to reach 39.2mn shares versus 41.0mn in the prior week. The number of transactions rose by 10.85% to reach 14,971 versus 13,506 in the prior week. The real estate sector led the trading volume, accounting for 34.76%, followed by the banks and financial services sector, which accounted for 27.80% of the overall trading volume. Mazaya Qatar (MRDS) was the top volume traded stock during the week with total traded volume of 6.4mn shares.
Foreign institutions remained bullish during the week with net buying of QR175.7mn versus net buying of QR86.1mn in the prior week. Qatari institutions turned bullish with net buying of QR49.1mn versus net selling of QR12.2mn the week before. Foreign retail investors remained bearish for the week with net selling of QR19.6mn versus net selling of QR9.1mn in the prior week. Qatari retail investors remained bearish with net selling of QR205.2mn versus net selling of QR64.8mn the week before. 
In 2017 year-to-date, foreign institutions bought (on a net basis) $42.9mn worth of Qatari equities.
The index closed higher compared to last week’s, gaining 2.69% for the week. It broke above the 21SMA on the weekly chart, which is positive and this bullishness could continue through the month of January. The expected support level is at 9,750 and resistance at the 11,500 level.
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security’s open and close are practically equal. The pattern indicates indecisiveness, and based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.

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