The Qatar Stock Exchange (QSE) index decreased 701.90 points, or 7.06%, during the trading week to close at 9,237.68. Market capitalisation decreased by 6.66% to QR495.3bn versus QR530.7bn at the end of the previous week. Of the 44 listed companies, two ended the week higher, while 41 fell and one remained unchanged. Ezdan Holding Group (ERES) was the best performing stock for the week with a gain of 0.5% on 8.7mn shares traded. On the other hand, Gulf Warehousing (GWCS) was the worst performing stock with a decline of 17.0% on 1.5mn shares traded.
QNB Group (QNBK), Masraf Al Rayan (MARK), and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index decline. QNBK was the biggest contributor to the index’s weekly decrease, deleting 110.0 points from the index. MARK was the second biggest contributor to the decline, shedding 96.1 points from the index. Moreover, QIBK shaved off 77.9 points from the index. Medicare Group (MCGS) was the least contributor to the decline deleting only 4.5 points.
Trading value during the week increased by 84.57% to reach QR2.93bn versus QR1.59bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 50.31% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 12.11% of the total trading value. QNBK was the top value traded stock during the week with total traded value of QR472.5mn.
Trading volume increased by 68.87% to reach 104.42mn shares versus 61.83mn in the prior week. The number of transactions increased by 82.47% to reach 31,011 versus 16,995 transactions in the prior week. The banks and financial services sector led the trading volume, accounting for 47.11%, followed by the real estate sector which accounted for 17.60% of the overall trading volume. Qatar First Bank (QFBK) was the top volume traded stock during the week with total traded volume of 22.18mn shares.
Foreign institutions remained bearish with net selling of QR653.2mn versus net selling of QR195.4mn in the prior week. Qatari institutions remained bullish with net buying of QR675.1mn versus net buying of QR214.4mn the week before. Foreign retail investors remained bearish with net selling of QR156.8mn versus net selling of QR13.9mn in the prior week. Qatari retail investors turned bullish with net buying of QR134.9mn versus net selling of QR5.2mn the week before.
In 2017 year-to-date, foreign institutions bought (on a net basis) $745.6mn worth of equities.
QNB
