The Qatar Stock Exchange (QSE) index decreased by 260.73 points, or 3.20%, during the trading week to close at 7,885.50. Market capitalisation decreased by 3.86% to QR426.4bn versus QR443.5bn at the end of the previous trading week. Of the 45 listed companies, four ended the week higher, while 38 declined and three remained unchanged. Doha Insurance Co (DOHI) was the best performing stock for the week with a gain of 2.14% on 9,765 shares traded only. On the other hand, Alijara Holding (NLCS) was the worst performing stock for the week with a decline of 18.89% on 397,950 shares traded.
Barwa Real Estate (BRES), Ooredoo (ORDS) and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index decline. BRES was the biggest contributor to the index’s weekly decrease, deleting 29.33 points from the index. ORDS was the second biggest contributor, shedding 24.57 points from the index. Moreover, QIBK deleted 24.35 points from the index. Alternatively, QNB Group (QNBK) added 3.99 points to the index.
Trading value during the week increased by 29.84% to reach QR893.2mn versus QR687.9mn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 47.4% of the total trading value. The Industrials sector was the second biggest contributor to the overall trading value, accounting for 19.5% of the total trading value. QNBK was the top value traded stock during the week with total traded value of QR198.0mn.
Trading volume increased by 5.39% to reach 32.4mn shares versus 30.8mn in the prior week. The number of transactions rose by 30.34% to reach 14,279 versus 10,955 transactions in the prior week. The banks and financial services sector led the trading volume, accounting for 31.6%, followed by the industrials sector which accounted for 23.7% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with 3.3mn shares.
Foreign institutions remained bullish with net buying of QR97.3mn versus net buying of QR56.5mn in the prior week. Qatari institutions remained bearish with net selling of QR5.3mn versus net selling of QR33.8mn the week before. Foreign retail investors turned bearish with net selling of QR12.8mn versus net buying of QR10.5mn in the prior week. Qatari retail investors remained bearish with net selling of QR79.2mn versus net selling of QR33.2mn the week before.
In 2017 year-to-date, foreign institutions bought (on a net basis) $712mn worth of equities.
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