QNB Weekly Market Report

14/09/2014 00:28 AST

The Qatar Stock Exchange (QSE) Index gained 102.84 points, or 0.74%, during the week, to close at 14,088.82 points. Market capitalisation increased by 0.7% to reach QR747.6bn as compared to QR742.6bn at the end of the previous week. Of the 43 listed companies, 27 companies ended the week higher, while 13 fell and 3 remained unchanged. Widam Food Company (WDAM) was the best performing stock for the week, with a gain of 7.9% on 1.7mn shares traded; the stock is up 27.5% year-to-date (YTD). Qatar International Islamic Bank (QIIK) was the worst performing stock, with a decline of 1.5% on only 0.8mn shares traded. The stock is still up 44.7% YTD.

Barwa Real Estate Company (BRES), Gulf International Services (GISS) and Industries Qatar (IQCD) were the biggest contributors to the weekly index gain. BRES contributed 32.2 points to the index’s weekly gain of 102.8 points. The stock has been one of the best performing stocks in 2014 YTD with a price return of 42.8%. GISS also contributed positively to the index, adding 28.3 points; the stock has also been one of the best performing stocks in 2014 YTD with a gain of 158.4%. IQCD was the third biggest contributor, contributing 18.9 points; the stock is up 14.9% YTD.

On the other hand within the QE Index, QNB Group (QNBK) and Ooredoo (ORDS) ended in the negative territory. QNBK ended the week shaving 18.7 points off the index; the stock is up 20.8% YTD. Furthermore, ORDS also contributed negatively to the index by reducing 8.1 points.

Trading value during the week increased by 6.5% to reach QR3.7bn vs QR3.5bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 34.7% of the total equity trading value. Ezdan Holding (ERES) was the top value traded stock during the week with total traded value of QR388.1mn.

Trading volume increased by 21.5% to reach 83.3mn shares vs 68.6mn shares in the prior week. The number of transactions rose by 10.6% to reach 35,532 transactions versus 32,119 transactions in the prior week. The real estate sector led the trading volume, accounting for 40.4%. ERES was the top volume traded stock during the week with total traded volume of 19.7mn shares.

Foreign institutions remained bullish during the week with net buying of QR49.3mn vs QR34.9mn in the prior week. Qatari institutions turned bullish with net buying of QR104.1mn vs net selling of QR27.6mn the week before. Foreign retail investors remained bearish for the week with net selling of QR45.6mn vs net selling of QR14.8mn in the prior week. Qatari retail investors turned bearish with net selling of QR107.7mn vs net buying of QR6.9mn the week before. Thus far in 2014, the QSE has already witnessed net foreign portfolio investment inflow of $2.4bn.

Gulf Times