Qatar Exchange (QE) - Weekly

30/03/2014 08:29 AST

The Qatar Exchange (QE) Index gained 115.03 points, or 1.01%, during the trading week, to close at 11,482.34 points. Market capitalisation increased by 1.42% to reach QR643.5bn as compared to QR634.5bn at the end of the previous week. Of the 43 listed companies, 20 companies ended the week higher, while 22 fell and 1 remained unchanged. Islamic Holding (IHGS) was the best performing stock for the week, with a gain of 17.12% on 1.6mn shares traded. On the other hand, Mannai Corp (MCCS) was the worst performing stock with a decline of 14.37% on only 11,885 shares traded.

During the week, Mazaya Qatar Real Estate Development Company (MRDS), Zad Holding (ZHCD) and Qatar German Co for Medical Devices (QGMD) announced their 2013 results. MRDS reported a net profit of QR134mn in 2013, up 113% compared to QR62.8mn in 2012. The strong growth in net profit was primarily due to the inclusion of construction profit of QR158.7mn in 2013 as well as surge in rental income by 81% year-over-year to QR38.5mn. MRDS’ earnings per share (EPS) amounted to QR1.34 in 2013 as compared to QR0.63 in 2012. ZHCD posted a net profit of QR125mn in 2013 versus QR110mn in 2012. EPS amounted to QR5.81 in 2013 compared to QR5.11 in 2012. QGMD reported a higher net loss of QR7.9mn in FY2013 as compared to a net loss of QR4.6mn in FY2012 primarily driven by lower revenue, increased G&A expenses and higher financial costs, which was partially offset by increased gains on fair value of investment properties.

Trading value during the week decreased by 3.54% to reach QR3.16bn vs QR3.28bn in the prior week. The industrial sector led the trading value during the week, accounting for 38.3% of the total equity trading value. Mesaieed Petrochemical Holding Co (MPHC) was the top value traded stock during the week with total traded value of QR649.3mn. Trading volume increased by 7.55% to reach 78.1mn shares vs 72.6mn shares in the prior week. The number of transactions fell by 1.29% to reach 43,701 transactions versus 44,274 transactions in the prior week. The Real Estate sector led the trading volume, accounting for 37.6%. MPHC was also the top volume traded stock during the week with total traded volume of 18.8mn shares.

Foreign institutions turned bullish for the week with net buying of QR195.7mn vs net selling of QR43.6mnin the prior week. Qatari institutions turned bearish with net selling of QR118.9mn vs net buying of QR59.7mn the week before. Foreign retail investors turned bearish for the week with net selling of QR24.0mn vs net buying of QR42.3mn in the prior week. Qatari retail investors remained bearish with net selling of QR52.8mn vs QR58.3mn the week before.

Gulf Times