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The Qatar Stock Exchange (QSE) index dropped by 183.88 points, or 1.89%, during the week to close at 9,532.60. Market capitalisation decreased by 1.8% to QR517.1bn versus QR526.7bn at the end of the previous week. Of the 44 listed companies, four ended the week higher, while 38 fell and only two remained unchanged. Ahli Bank (ABQK) was the best performing stock for the week with a gain of 5.9% on 22,778 shares traded only. On the other hand, Medicare (MCGS) was the worst performing with a decline of 5.8% on 293,905 shares traded.
Industries Qatar (IQCD), QNB Group (QNBK) and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index decline. IQCD was the biggest contributor, shedding 27.9 points from the index. QNBK was the second biggest contributor to the decline, erasing 19.7 points from the index. Moreover, QIBK deleted 16.3 points from the index. On the other hand, Mazaya Qatar Real Estate Development Co had the least amount of impact on the index.
Trading value during the week increased by 31.8% to reach QR1.0bn versus QR794.3mn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 36.2% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 26.2% of the total. QNBK was the top value traded stock during the week with total traded value of QR115.9mn.
Trading volume increased by 19.8% to reach 26.3mn shares versus 22.0mn in the prior week. The number of transactions decreased by 6.3% to reach 15,193 versus 16,217 in the prior week. The banks and financial services sector led the trading volume, accounting for 31.9%, followed by the industrials sector, which accounted for 20.5% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total traded volume of 3.2mn shares.
Foreign institutions turned bearish during the week with net selling of QR21.6mn versus net buying of QR3.7mn in the prior week. Qatari institutions turned bullish with net buying of QR16.3mn versus net selling of QR17.5mn the week before. Foreign retail investors remained bearish for the week with net selling of QR22.8mn versus net selling of QR2.8mn in the prior week. Qatari retail investors remained bullish with net buying of QR28.1mn versus net buying of QR16.6mn the week before.
In 2016 year-to-date, foreign institutions bought (on a net basis) $370mn worth of Qatari equities.
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