QNB Weekly Market Report

The Qatar Stock Exchange (QSE) index decreased by 28.20 points or 0.36% during the trading week to close at 7,714.26. Market capitalisation increased by 0.02% to QR418.1bn versus QR418.1bn at the end of the previous trading week. Of the 45 listed companies, 29 companies ended the week higher, while 13 declined and three remained unchanged. Qatari Investors Group (QIGD) was the best performing stock for the week with a gain of 28.68% on 1,342,689 shares traded. On the other hand, Industries Qatar (IQCD) was the worst performing stock for the week with a decline of 6.10% on 1,205,569 shares traded.Industries Qatar (IQCD), Ooredoo (ORDS) and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index decline. IQCD was the biggest contributor to the index’s weekly decrease, deleting 71.3 points from the index. ORDS was the second biggest contributor to the decline, shedding 22.6 points from the index. Moreover, QIBK deleted 22.5 points from the index. Alternatively, Qatari Investors Group (QIGD) added 37.2 points to the index.Trading value during the week increased by 64.66% to reach QR1,428.7mn versus QR867.6mn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 42.46% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 21.26% of the total trading value. QNG Group (QNBK) was the top-value-traded stock during the week with total traded value of QR315.3mn.Trading volume increased by 62.33% to reach 60.8mn shares versus 37.5mn in the prior week. The number of transactions increased by 56.27% to reach 22,719 versus 14,538 transactions in the prior week. The banks and financial services sector led the trading volume, accounting for 26.34%, followed by the industrials sector, which accounted for 24.16% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with 7.5mn shares.Foreign institutions remained bearish with net selling of QR89.0mn versus net selling of QR6.7mn in the prior week. Qatari institutions turned bullish with net buying of QR4.4mn versus net selling of QR11.6mn the week before. Foreign retail investors turned bullish with net buying of QR2.8mn versus net selling of QR7.7mn in the prior week. Qatari retail investors remained bullish with net buying of QR81.8mn versus net buying of QR26.0mn the week before. In 2017 year-to-date, foreign institutions bought (on a net basis) ~$743mn worth of equities.