Qatar Stock Exchange Weekly Market Report
(8/13/2017 6:21:00 AM)
The Qatar Stock Exchange (QSE) Index decreased 155.27 points, or 1.65% during the trading week to close at 9,242.82. Market capitalisation decreased by 1.61% to QR500.90bn versus QR509.09bn at the end of the previous trading week. Of the 44 listed companies, nine companies ended the week higher, while 35 declined and none remained unchanged. Qatar General Insurance and Reinsurance Company (QGRI) was the best performing stock for the week with a gain of 13.97% on 21,671 shares traded. On the other hand, Ooredoo (ORDS) was the worst performing stock for the week with a decline of 5.52% on 218,758 shares traded.
Ooredoo (ORDS), Industries Qatar (IQCD) and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index decrease. ORDS was the biggest contributor to the index’s weekly decline, deleting 27.91 points from the index. IQCD was the second biggest contributor to the decrease, shaving off 25.69 points from the index. Moreover, QIBK erased 14.92 points from the index. On the other hand, Qatari Investors Group (QIGD) contributed positively to the index, adding 1.24 points to the index.
Trading value during the week decreased by 26.61% to reach QR0.86bn versus QR1.17bn in the prior week. The Banks and Financial Services sector led the trading value during the week, accounting for 32.96% of the total trading value. The Consumer Goods and Services sector was the second biggest contributor to the overall trading value, accounting for 17.97% of the total trading value. Vodafone Qatar (VFQS) was the top value traded stock during the week with total traded value of QR124.56mn.
Trading volume decreased by 35.31% to reach 32.25mn shares versus 49.86mn shares in the prior week. The number of transactions declined by 37.25% to reach 9,736 transactions versus 15,515 transactions in the prior week. The Telecoms sector led the trading volume, accounting for 43.57%, followed by the Banks and Financial Services sector which accounted for 20.61% of the overall trading volume. Vodafone Qatar (VFQS) was also the top volume traded stock during the week with total traded volume of 13.8mn shares.
Foreign institutions turned bearish with net selling of QR61.5mn vs net buying of QR13.6mn in the prior week. Qatari institutions remained bearish with net selling of QR10.9mn vs net selling of QR110.0mn the week before. Foreign retail investors remained bullish with net buying of QR6.6mn vs net buying of QR26.4mn in the prior week. Qatari retail investors remained bullish with net buying of QR65.8mn vs net buying of QR70.0mn the week before. In 2017 YTD, foreign institutions bought (on a net basis) ~$750mn worth of equities.