The Qatar Stock Exchange (QSE) index lost 101.90 points, or 1.02%, during the week to close at 9,912.92. Market capitalization decreased by 0.70% to QR525.1bn versus QR528.8bn at the end of the previous week. Of the 43 listed companies, 13 ended the week higher, while 29 fell and two remained unchanged. Al Meera Consumer Goods Co (MERS) was the best performing stock for the week with a gain of 10.0% on 86,128 shares traded. On the other hand, Qatar Cinema & Film Distribution Co (QCFS) was the worst performing with a decline of 10.0% on only 2,500 shares traded.
Qatar Islamic Bank (QIBK), Masraf Al Rayan (MARK) and Barwa Real Estate Co (BRES) were the primary contributors to the weekly index loss. QIBK was the biggest contributor, shedding off 36.8 points from the index. MARK was the second biggest contributor, erasing 32.9 points from the index. BRES pushed the index down by 17.1 points. On the other hand, QNB Group (QNBK) and Ezdan Holding Group (ERES) added 17.4 and 12.1 points to the index,
respectively.
Trading value during the week decreased by 10.5% to reach QR1.3bn versus QR1.4bn in the prior week. The Banks and Financial Services sector led the trading value during the week, accounting for 45.1% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 26.0% of the total. MARK was the top value traded stock during the week with total traded value of QR288.2mn.
Trading volume decreased by 7.1% to reach 31.5mn shares versus 33.9mn in the prior week. The number of transactions fell by 6.6% to reach 18,850 versus 20,181 in the prior week. The banks and financial services sector led the trading volume, accounting for 41.2%, followed by the real estate sector, which accounted for 17.3% of the overall trading volume. MARK was also the top volume traded stock during the week with total traded volume of 8.4mn shares.
Foreign institutions remained bearish during the week with net selling of QR75.0mn versus net selling of QR341.0mn in the prior week. Qatari institutions remained bullish with net buying of QR123.1mn versus net buying of QR359.1mn the week before. Foreign retail investors remained bearish for the week with net selling of QR9.8mn versus net selling of QR17.7mn in the prior week. Qatari retail investors remained bearish with net selling of QR38.4mn versus net selling of QR432.8k the week before.
In 2015 year-to-date, foreign institutions bought (on a net basis) $463mn worth of Qatari equities.

Technical analysis of the QSE index
The QSE index dropped by 1.02% and closed at 9,912.92 points versus the week before. A small Hammer candlestick was created just above the 9,600 support level we expected last week. One of the major concerns we have is the traded volumes. The index remains in a downtrend but a chance of a corrective bounce is possible. The weekly support level remains at 9,600 points while the resistance remains at 11,300 points.

Definitions of key terms used in technical analysis
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security’s open and close are practically equal. The pattern indicates indecisiveness, and based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.

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