Qatar Exchange: Weekly Market Report

21/06/2015 02:06 AST

The Qatar Stock Exchange (QSE) Index gained 18.39 points, or 0.15%, during the week, to close at 11,897.95. Market capitalisation increased by 0.34% to reach QR634.12bn compared to QR631.95bn at the end of the previous week. Of the 43 listed companies, 21 ended the week higher, while 19 fell and 3 remained unchanged. Ahli Bank (ABQK) was the best performing stock for the week, with a gain of 6.73% on 119 shares traded. On the other hand, Ooredoo (ORDS) was the worst performing with a decline of 3.82% on 581,005 shares traded.

QNB Group (QNBK), Barwa Real Estate Co (BRES), and Industries Qatar (IQCD) were the primary contributors to the weekly index gain. QNBK was the biggest contributor adding 29.96 points to the index’s weekly gain of 18.39 points. BRES tacked on 18.30 points to the index.

Further, IQCD added another 8.97 points. On the other hand, Ooredoo (ORDS) and Qatar Islamic Bank (QIBK) contributed negatively to the index. ORDS and QIBK erased 17.74 and 17.68 points off the index, respectively.

Trading value during the week decreased by 26.09% to reach QR991.12mn vs QR1.34bn in the prior week. The real estate sector led the trading value during the week, accounting for 33.37% of the total. The banks and financial services sector was the second biggest contributor, accounting for 24.41% of the total trading value. BRES was the top value traded stock during the week with total traded value of QR225.1mn.

Trading volume decreased by 14.49% to reach 23.33mn shares vs 27.28mn in the prior week. The number of transactions decreased by 20.84% to reach 14,119 versus 17,836 in the prior week. The real estate sector led the trading volume, accounting for 31.19%, followed by the banks and financial services sector, which accounted for 25.30% of the overall trading volume. BRES was also the top volume traded stock during the week with total traded volume of 4.3mn shares.

Foreign institutions turned bullish during the week with net buying of QR22.5mn vs net selling of QR186.1mn in the prior week. Qatari institutions turned bearish with net selling of QR32.9mn vs net buying of QR116.8mn the week before. Foreign retail investors turned bearish for the week with net selling of QR16.8mn vs net buying of QR38.1mn in the prior week. Qatari retail investors remained bullish with net buying of QR27.3mn vs net buying of QR31.2mn the week before.

In 2015 year to date, foreign institutions bought (on a net basis) $481.6mn worth of Qatari equities.

Gulf Times