Weekly Market Report
The Qatar Stock Exchange (QSE) index gained 505.86 points, or 4.46% during the week, to close at 11,347.15. Market capitalisation increased by 4.15% to reach QR623.8bn compared to QR598.9bn at the end of the previous week. Of the 43 listed companies, 33 ended the week higher, while 10 fell.
Ooredoo (ORDS) was the best performing stock for the week, with a gain of 10.16% on 871,424 shares traded. On the other hand, Doha Insurance Co (DOHI) was the worst performing with a decline of 5.32% on 41,603 shares traded.
QNB Group (QNBK), Industries Qatar (IQCD) and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index gain. QNBK topped the pack, adding 127.26 points to the index. IQCD tacked on 65.88 points to the Index while QIBK contributed 55.80 points. On the other hand, Commercial Bank of Qatar (CBQK) and Doha Bank (DHBK) contributed negatively to the Index. CBQK and DHBK erased 2.55 and 0.64 points from the index, respectively.
Trading value during the week decreased by 14.78% to reach QR1.99bn vs QR2.34bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 37.81% of the total trading value. The industrial sector was the second biggest contributor to the overall trading value, accounting for 23.08% of the total trading value.
QNBK was the top value traded stock during the week with total traded value of QR197.7mn.
Trading volume decreased by 19.50% to reach 46.57mn shares vs 57.9mn in the prior week. The number of transactions decreased by 4.86% to reach 27,037 versus 28,419 in the prior week. The real estate sector led the trading volume, accounting for 34.42%, followed by the banks and financial services sector, which accounted for 23.34% of the overall trading volume. Mazaya Qatar Real Estate Development Co (MRDS) was the top volume traded stock during the week with total traded volume of 6.3mn shares.
Foreign institutions remained bullish during the week with net buying of QR308.8mn vs net buying of QR384.9mn in the prior week. Qatari institutions remained bearish with net selling of QR107.7mn vs net selling of QR211.7mn the week before. Foreign retail investors remained bearish for the week with net selling of QR78.4mn vs net selling of QR20.4mn in the prior week. Qatari retail investors remained bearish with net selling of QR122.6mn vs net selling of QR152.5mn the week before.
In 2015 year-to-date, foreign institutions bought (on a net basis) $615mn worth of Qatari equities.