The Qatar Stock Exchange (QSE) Index decreased by 81.13 points, or 0.8% during the week to close at 9,885.22. Market capitalisation decreased by 0.9% to QR532.7bn versus QR537.4bn at the end of the previous week. Of the 44 listed companies, 11 companies ended the week higher, while 32 fell and only 1 remained unchanged. Dlala Brokerage and Investments Holding Co (DBIS) was the best performing stock for the week with a gain of 11.1% on 1.6mn shares traded. On the other hand, Mannai Corp (MCCS) was the worst performing stock with a decline of 5.1% on 4,321 shares traded only.
Ezdan Holding Group (ERES), Industries Qatar (IQCD) and QNB Group (QNBK) were the primary contributors to the weekly index loss. ERES was the biggest contributor to the index’s weekly decline, erasing 32.4 points from the index. IQCD was the second biggest contributor to the loss, shedding 24.5 points from the index. Moreover, QNBK deleted 10.8 points from the index. On the other hand, Qatar Insurance Co (QATI) added 11.9 to the index.
Trading value during the week increased by 4.2% to reach QR602.3mn versus QR578.3mn in the prior week. The Banks and Financial Services sector led the trading value during the week, accounting for 36.9% of the total trading value. The Industrials sector was the second biggest contributor to the overall trading value, accounting for 25.3% of the total trading value. Gulf International Services (GISS) was the top value traded stock during the week with total traded value of QR64.8mn.
Trading volume increased by 20.4% to reach 18.7mn shares versus 15.5mn shares in the prior week. The number of transactions increased by 9.3% to reach 10,419 transactions versus 9,535 transactions in the prior week. The Banks and Financial Services sector led the trading volume, accounting for 33.2%, followed by the Industrials sector, which accounted for 19.7% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total traded volume of 2.5mn shares.
Foreign institutions remained bullish during the week with net buying of QR79.0mn vs. buying of QR40.3mn in the prior week. Qatari institutions turned bearish with net selling of QR30.1mn vs. net buying of QR22.1mn the week before. Foreign retail investors remained bearish for the week with net selling of QR13.6mn vs. net selling of QR8.4mn in the prior week. Qatari retail investors remained bearish with net selling of QR35.3mn vs. net selling of QR54.0mn the week before. In 2016 YTD, foreign institutions bought (on a net basis) ~$455mn worth of Qatari equities.