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Weekly Market Report
The Qatar Stock Exchange (QSE) Index lost 582.75 points, or 4.37%, during the week, to close at 12,748.18 points. Market capitalisation decreased by 4.23% to reach QR696.9bn compared to QR727.7bn at the end of the previous week. Of the 43 listed companies, 8 companies ended the week higher, while 35 fell. Islamic Holding Group (IHGS) was the best performing stock for the week, with a gain of 7.8% on 1.9mn shares traded; the stock is up 377.6% year-to-date (YTD). On the other hand, QNB Group (QNBK) was the worst performing stock with a decline of 8.5% on 2.4mn shares traded; the stock is still up 21.8% YTD.
On the back of weak international oil prices, regional equity markets witnessed continued selling pressure. Qatari market also felt the brunt with only two stocks in the QSE Index closing in positive territory during the week. QNBK, Industries Qatar (IQCD) and Ezdan Holding Group (ERES) were the biggest contributors to the weekly index decline. QNBK contributed 198.0 points to the index’s weekly decline of 582.75 points. IQCD contributed 70.7 points to the weekly index decline. ERES was the third biggest contributor, contributing 66.5 points. On the other hand, Ooredoo (ORDS) and Qatar Electricity and Water Company (QEWS) made a positive impact on the index.
Trading value during the week decreased by 46.0% to reach QR3.5bn vs QR6.6bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 44.0% of the total. The Industrials sector was the second biggest contributor to the overall trading value, accounting for 19.1%.QNB Group (QNBK) was the top value traded stock during the week with total value of QR505.4mn.
Trading volume decreased by 16.4% to reach 61.0mn shares vs 72.9mn shares in the prior week. The number of transactions fell by 6.1% to reach 35,480 versus 37,797 in the prior week. The real estate sector led the trading volume, accounting for 34.7%, followed by the banks and financial services sector, which accounted for 28.9% of the overall trading volume. Barwa Real Estate Company (BRES) was the top volume traded stock during the week with total of 8.0mn shares.
Foreign institutions remained bullish during the week with net buying of QR77.7mn vs QR321.8mn in the prior week. Qatari institutions remained bearish with net selling of QR182.2mn vs QR302.7mn the week before. Foreign retail investors remained bullish for the week with net buying of QR27.7mn vs QR63.7mn in the prior week. Qatari retail investors turned bullish with net purchases of QR79.1mn vs net divestments of QR82.7mn the week before.
Thus far in 2014, the QSE has already witnessed net foreign portfolio investment inflow of $2.5bn.
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