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The Qatar Stock Exchange (QSE) index decreased by 302.64 points, or 2.79%, during the week to close at 10,534.10. Market capitalisation decreased by 2.7% to QR565.2bn versus QR580.7bn at the end of the previous week. Of the 44 listed companies, 11 ended the week higher, while 32 fell and one remained unchanged. Al Khalij Commercial Bank (KCBK) was the best performing stock for the week with a gain of 3.8% on 72,424 shares traded only. On the other hand, Commercial Bank of Qatar was the worst performing with a decline of 7.8% on 1.3mn shares traded.
QNB Group (QNBK), Ezdan Holding Group (ERES) and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index loss. QNBK was the biggest contributor, deleting 63.5 points from the index. ERES was the second biggest contributor to the loss, shedding 49.9 points from the index. Moreover, QIBK erased 48.8 points from the index. On the other hand, Qatar Insurance Co (QATI) added 14.2 points to the index.
Trading value during the week decreased by 15.1% to reach QR1.4bn versus QR1.7bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 46.0% of the total. The industrials sector was the second biggest contributor to the overall trading value, accounting for 22.8%. QNBK was the top value traded stock during the week with total traded value of QR300.9mn.
Trading volume decreased by 12.3% to reach 32.2mn shares versus 36.7mn in the prior week. The number of transactions increased by 9.7% to reach 25,450 versus 23,200 in the prior week. The banks and financial services sector led the trading volume, accounting for 37.9%, followed by the real estate sector, which accounted for 18.7% of the overall trading volume. Masraf Al Rayan (MARK) was the top volume traded stock during the week with total traded volume of 4.3mn shares.
Foreign institutions turned bearish during the week with net selling of QR4.9mn versus buying of QR284.8mn in the prior week. Qatari institutions remained bearish with net selling of QR132.2mn versus net selling of QR314.9mn the week before. Foreign retail investors remained bullish for the week with net buying of QR57.1mn versus net buying of QR37.0mn in the prior week. Qatari retail investors turned bullish with net buying of QR80.0mn versus net selling of QR6.8mn the week before.
In 2016 year-to-date, foreign institutions bought (on a net basis) $956mn worth of Qatari equities.
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