Weekly Market Report

 Weekly Market Report

The Qatar Stock Exchange (QSE) index decreased by 265.98 points, or 3.07%, during the trading week to close at 8,409.48. Market capitalisation decreased by 2.40% to QR458.86bn versus QR470.15bn at the end of the previous trading week. Of the 45 listed companies, 11 ended the week higher, while 29 declined and five remained unchanged. Qatar General Insurance & Reinsurance Co (QGRI) was the best performing stock for the week with a gain of 5.3% on 6,480 shares traded only. On the other hand, Milaha (QNNS) was the worst performing stock with a decline of 14.3% on 2.1mn shares traded.

QNB Group (QNBK), Qatar Insurance Co (QATI) and QNNS were the primary contributors to the weekly index decrease. QNBK was the biggest contributor to the index’s weekly decline, erasing 45.0 points from the index. QATI was the second biggest contributor to the decrease, shaving off 32.1 points from the index. Moreover, QNNS deleted 31.2 points from the index. Alternatively, Commercial Bank of Qatar (CBQK) contributed positively to the index, adding 9.3 points to the index.

Trading value during the week increased by 183.4% to reach QR1.2bn versus QR442.2mn in the prior shortened week. The banks and financial services sector led the trading value during the week, accounting for 40.6% of the total trading value. The industrials sector was the second biggest contributor to the overall trading value, accounting for 17.4% of the total. QNB Group (QNBK) was the top value traded stock during the week with total traded value of QR184.7mn.

Trading volume increased by 209.3% to reach 58.3mn shares versus 18.8mn in the prior week (shortened). The number of transactions increased by 166.1% to reach 15,360 versus 5,772 transactions in the prior week. Telecoms sector led the trading volume, accounting for 31.3%, followed by the banks and financial services sector, which accounted for 30.9% of the overall trading volume. Vodafone Qatar (VFQS) was the top volume traded stock during the week with 17.7mn shares.

Foreign institutions remained bearish with net selling of QR112.7mn versus net selling of QR34.6mn in the prior week. Qatari institutions remained bullish with net buying of QR32.6mn versus net buying of QR21.8mn the week before. Foreign retail investors turned bullish with net buying of QR1.9mn versus net selling of QR5.9mn in the prior week. Qatari retail investors remained bullish with net buying of QR78.2mn versus net buying of QR18.7mn the week before. In 2017 year-to-date, foreign institutions bought (on a net basis) $662mn worth of equit