The Qatar Stock Exchange (QSE) index declined by 185.97 points, or 1.87%, during the week to close at 9,774.98. Market capitalisation decreased by 1.40% to QR528.3bn versus QR535.8bn at the end of the previous week. Of the 44 listed companies, six ended the week higher, while 34 fell and four remained unchanged. Qatar First Bank (QFBQ) was the best performing stock for the week with a gain of 6.1% on 7.8mn shares traded. On the other hand, Vodafone Qatar (VFQS) was the worst performing stock with a decline of 6.3% on 10.5mn shares traded.
Trading value during the week decreased by 30.2% to reach QR1.2bn versus QR1.8bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 30.4% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 16.0% of the total trading value. QNB Group (QNBK) was the top value traded stock during the week with total traded value of QR130.8mn.
Trading volume decreased by 11.3% to reach 41.5mn shares versus 46.8mn in the prior week. The number of transactions inched up by 0.4% to reach 18,651 versus 18,574 in the prior week. The banks and financial services sector led the trading volume, accounting for 32.6%, followed by the Telecoms sector, which accounted for 27.5%. VFQS was the top volume traded stock during the week with total traded volume of 10.5mn shares.
Foreign institutions turned bearish during the week with net selling of QR7.5mn versus net buying QR684.5mn in the prior week. Qatari institutions remained bearish with net selling of QR22.6mn versus net selling of QR679.3mn the week before. Foreign retail investors remained bullish for the week with net buying of QR40.1mn versus net buying of QR9.5mn in the prior week. Qatari retail investors remained bearish with net selling of QR10.0mn versus net selling of QR14.7mn the week before. 
In 2016 year-to-date, foreign institutions bought (on a net basis) $1.9bn worth of Qatari equities.
The index dropped by 1.87% and reaching closer to the 9,750 support level (index closed at 9,774.98). The index remains cornered between the previously mentioned support level and resistance at the 11,500 level.
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use a one-day candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security’s open and close are practically equal. The pattern indicates indecisiveness, and based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.