The Qatar Stock Exchange (QSE) index lost 437.40 points, or 4.29%, during the week to close at 9,748.78. Market capitalisation decreased by 4.14% to QR526.8bn versus QR549.5bn at the end of the previous week. Of the 44 listed companies, six ended the week higher, while 36 fell and only two remained unchanged. Qatar Cinema & film Distribution Co (QCFS) was the best performing stock for the week with a gain of 5.1% on 578 traded shares only. On the other hand, Widam Food Co (WDAM) was the worst performing with a decline of 7.5% on 2.8mn shares traded.
Ezdan Holding Group (ERES), QNB Group (QNBK) and Industries Qatar (IQCD) were the primary contributors to the weekly index loss. ERES was the biggest contributor, erasing 89.0 points from the index. QNBK was the second biggest contributor to the decrease, shedding 77.4 points from the index. Moreover, IQCD erased 51.2 points from the index. On the other hand, Al Meera Consumer Goods Co (MERS) contributed positively to the index, adding 3.0 points to the index.
Trading value during the week decreased by 24.9% to reach QR1.32bn versus QR1.76bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 33.7% of the total. The consumer goods and services sector was the second biggest contributor to the overall trading value, accounting for 20.7% of the total. WDAM was the top value traded stock during the week with total traded value of QR175.0mn.
Trading volume decreased by 30.1% to reach 42.5mn shares versus 60.8mn in the prior week. The number of transactions decreased by 20.1% to reach 21,986 versus 27,518 in the prior week. The banks and financial services sector led the trading volume, accounting for 39.1%, followed by the real estate sector, which accounted for 18.3% of the overall trading volume. Qatar First Bank (QFBQ) was also the top volume traded stock during the week with total traded volume of 6.2mn shares.
Foreign institutions remained bullish during the week with net buying of QR8.0mn versus net buying of QR34.8mn in the prior week. Qatari institutions remained bearish with net selling of QR15.3mn versus net selling of QR2.0mn the week before. Foreign retail investors remained bullish for the week with net buying of QR15.1mn versus net buying of QR15.3mn in the prior week. Qatari retail investors remained bearish with net selling of QR7.8mn versus net selling of QR48.0mn the week before.
In 2016 year-to-date, foreign institutions bought (on a net basis) $371mn worth of Qatari equities.