QNB Weekly Market Report

22/03/2015 05:43 AST

The Qatar Stock Exchange (QSE) Index declined by 556.89 points, or 4.61%, during the week, to close at 11,523.77. Market capitalisation fell by 4.94% to reach QR624.4bn compared to QR656.9bn at the end of the previous week. Of the 43 listed companies, 4 companies ended the week higher, while 38 fell and 1 remained unchanged. Qatar Cinema & Film Distribution Company (QCFS) was the best performing stock for the week, with a gain of 3.6% on only 1,992 shares traded. On the other hand, Al Khaleej Takful Group (AKHI) was the worst performing with a decline of 20.4% on 342,407 shares traded.

QNB Group (QNBK), Industries Qatar (IQCD) and Qatar International Islamic Bank (QIIK) were the biggest contributors to the weekly index decline. QNBK was the biggest contributor with 122.9 points to the index’s weekly fall of 556.9 points. IQCD contributed 88.6 points, while QIIK contributed 44.5 points to the index’s weekly decline.

Trading value during the week decreased by only 0.2% to reach QR1.8bn vs QR1.8bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 34.8% of the total. The industrials sector was the second biggest contributor, accounting for 28.3% of the total trading value. Barwa Real Estate Co (BRES) was the top value traded stock during the week with total of QR194.1mn.

Trading volume increased by 3.3% to reach 39.1mn shares vs 37.9mn in the prior week. The number of transactions increased by 11.1% to reach 25,607 versus 23,039 in the prior week. The banks and financial services sector led the trading volume, accounting for 28.1%, followed by the real estate sector, which accounted for 26.8% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with total traded volume of 6.7mn shares.

Foreign institutions remained bearish during the week with net selling of QR215.2mn vs net selling of QR98.1mn in the prior week. Qatari institutions remained bullish with net buying of QR96.6mn vs net buying of QR104.5mn the week before. Foreign retail investors remained bearish for the week with net selling of QR7.4mn vs net selling of QR50.4mn in the prior week. Qatari retail investors remained bullish with net buying of QR126.0mn vs net buying of QR43.9mn the week before.

In 2015 year to date, foreign institutions sold (on a net basis) $102mn worth of Qatari equities.

During the week, the QSE announced the results of its semi-annual index review. Aamal Company (AHCS) will replace Medicare Group (MCGS) in the Qatar Index effective from April 1, 2015. Furthermore, National Leasing (NLCS) will be removed from the QSE Al Rayan Islamic Index.

Gulf Times