Weekly Market Report

The Qatar Stock Exchange (QSE) index decreased 108.61 points, or 1.18%, during the trading week to close at 9,088.01. Market capitalisation decreased by 1.5% to QR506.2bn versus QR514.0bn at the end of the previous trading week. Of the 45 listed companies, 17 ended the week higher, while 25 declined and three remained unchanged. Qatar Navigation (QNNS) was the best performing stock for the week with a gain of 16.3% on 407.6 thousand shares traded. On the other hand, Gulf International Services (GISS) was the worst performing stock with a decline of 10.4% on 1.8mn shares traded.Industries Qatar (IQCD), QNB Group (QNBK) and Ooredoo (ORDS) were the primary contributors to the weekly index declines. IQCD was the biggest contributor to the index’s decrease, deleting 53.9 points from the index. QNBK was the second biggest contributor to the mentioned losses, shaving off 33.1 points from the index. Moreover, ORDS removed 22.6 points from the index. However, Qatar Navigation (QNNS) added 37.4 points to the index.Trading value during the week decreased by 7.6% to reach QR1.33bn versus QR1.44bn in the prior week. The industrials sector led the trading value during the week, accounting for 30.3% of the total trading value. The banks and financial services sector was the second biggest contributor to the overall trading value, accounting for 26.4% of the total. Mesaieed Petrochemical Holding (MPHC) was the top value traded stock during the week with total traded value of QR192.9mn.Trading volume decreased by 8.8% to reach 56.0mn shares versus 61.4mn in the prior week. The number of transactions decreased by 2.9% to reach 19,305 versus 19,886 in the prior week. The industrials sector led the trading volume, accounting for 32.0%, followed by the telecoms sector, which accounted for 24.6% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with 13.3mn shares.Foreign institutions remained bullish with net buying of QR25.9mn versus net buying of QR192.1mn in the prior week. Qatari institutions remained bearish with net selling of QR32.4mn versus net selling of QR156.3mn in the week before. Foreign retail investors remained bearish with net selling of QR2.8mn versus net selling of QR4.7mn in the prior week. Qatari retail investors turned bullish with net buying of QR9.4mn versus net selling of QR31.1mn the week before. Foreign institutions bought (on a net basis) $207mn worth of Qatari equities since the beginning of 2018.