The Qatar Stock Exchange (QSE) index increased 547.21 points, or 6.13%, during the trading week to close at 9,469.93. Market capitalisation increased by 6.46% to QR510.7bn versus QR479.7bn at the end of the previous trading week. Of the 44 listed companies, 43 ended the week higher, while none declined and one remained unchanged. Qatari Investors Group (QIGD) was the best performing stock for the week with a gain of 11.42% on 260,218 shares traded. On the other hand, Qatar Navigation (QNNS) was the worst performing stock remaining flat week-over-week on 233,679 shares traded.
QNB Group (QNBK), Industries Qatar (IQCD) and Masraf Al Rayan (MARK) were the primary contributors to the weekly index increase. QNBK was the biggest contributor, adding 147.70 points from the index. IQCD was the second biggest contributor to the increase, adding 69.16 points from the index. Moreover, MARK added 59.92 points from the index. On the other hand, QNNS remained flat week-over-week, contributing zero points to the index.
Trading value during the week increased by 7.12% to reach QR1.46bn versus QR1.37bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 49.56% of the total. The industrials sector was the second biggest contributor to the overall trading value, accounting for 16.45%. QNBK was the top value traded stock during the week with total traded value of QR355.1mn.
Trading volume decreased by 8.25% to reach 49.2mn shares versus 53.62mn in the prior week. The number of transactions decreased by 3.59% to reach 17,735 versus 18,396 in the prior week. The banks and financial services sector led the trading volume, accounting for 37.20%, followed by the industrials sector which accounted for 18.09% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total traded volume of 14.6mn shares.
Foreign institutions remained bullish with net buying of QR84.6mn versus net buying of QR61.1mn in the prior week. Qatari institutions remained bullish with net buying of QR30.7mn versus net buying of QR24.3mn the week before. Foreign retail investors remained bearish with net selling of QR26.4mn versus net selling of QR77.7mn in the prior week. Qatari retail investors remained bearish with net selling of QR88.9mn versus net selling of QR7.7mn the week before.
In 2017 year-to-date, foreign institutions bought (on a net basis) $709mn worth of equities.
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