The Qatar Stock Exchange (QSE) index gained 289.21 points, or 2.94%, during the week to close at 10,136.57. Market capitalisation increased by 2.60% to QR536.9bn versus QR523.3bn at the end of the previous week. Of the 43 listed companies, 35 ended the week higher, while six fell and two remained unchanged. Medicare (MCGS) was the best performing stock for the week with a gain of 17.69% on 711,022 shares traded. On the other hand, Qatar Cinema & Film Distribution Co (QCFS) was the worst performing stock with a decline of 9.35% on 1,736 shares traded only.
Ezdan Group Holding (ERES), QNB Group (QNBK) and Qatar Insurance (QATI) were the primary contributors to the weekly index gain. ERES was the biggest contributor to the index’s weekly increase, contributing 82.2 points. QNBK was the second biggest contributor, adding 45.1 points to the index. Moreover, QATI tacked on 38.2 points to the index. On the other hand, Ooredoo (ORDS) contributed negatively to the index, shedding 15.7 points from the index.
Trading value during the week increased by 13.5% to reach QR2.29bn versus QR2.02bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 38.9% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 21.5% of the total trading value. QNBK was the top value traded stock during the week with total traded value of QR175.3mn.
Trading volume increased by 10.4% to reach 63.9mn shares versus 57.9mn in the prior week. The number of transactions decreased by 0.1% to reach 28,738 versus 28,758 in the prior week. The banks and financial services sector led the trading volume, accounting for 29.3%, followed by the real estate sector, which accounted for 22.1% of the overall trading volume. Vodafone Qatar (VFQS) was also the top volume traded stock during the week with total traded volume of 6.3mn shares.
Foreign institutions turned bullish during the week with net buying of QR194.2mn versus net selling of QR30.6mn in the prior week. Qatari institutions remained bearish with net selling of QR108.4mn versus net selling of QR23.5mn the week before. Foreign retail investors turned bearish for the week with net selling of QR11.0mn versus net buying of QR0.4mn in the prior week. Qatari retail investors turned bearish with net selling of QR74.7mn versus net buying of QR53.6mn the week before.
In 2016 year-to-date, foreign institutions sold (on a net basis) $12mn worth of Qatari equities.