QNB Group (QNBK), Qatar Islamic Bank (QIBK) and Barwa Real Estate (BRES) were the primary contributors to the weekly index declines. QNBK was the biggest contributor to the index’s decrease, deleting 42.4 points from the index. QIBK was the second biggest contributor to the mentioned losses, shaving off 18.5 points off the index. Moreover, BRES removed 10.1 points from the index. However, Vodafone Qatar (VFQS) added 12.9 points to the index.
Trading value during the week decreased by 21.0% to reach QR974.3mn versus QR1.23bn in the prior week. The banks and financial services sector led the trading value during the week, accounting for 29.5% of the total. The industrials sector was the second biggest contributor to the overall trading value, accounting for 23.9% of the total trading value. VFQS was the top value traded stock during the week with total traded value of QR166.7mn.
Trading volume decreased by 5.2% to reach 48.5mn shares versus 51.2mn in the prior week. The number of transactions decreased by 9.0% to reach 16,603 versus 18,243 transactions in the prior week. The telecoms sector led the trading volume, accounting for 39.5%, followed by the industrials sector, which accounted for 22.6% of the overall trading volume. VFQS was also the top volume traded stock during the week with 18.2mn shares.
Foreign institutions remained bearish with net selling of QR30.5mn versus net selling of QR24.3mn in the prior week. Qatari institutions turned bullish with net buying of QR7.0mn versus net selling of QR4.7mn in the week before. Foreign retail investors remained bullish with net buying of QR5.8mn versus net buying of QR1.1mn in the prior week. Qatari retail investors remained bullish with net buying of QR17.7mn versus net buying of QR27.9mn the week before.
Foreign institutions bought (on a net basis) $218mn worth of Qatari equities since the beginning of 2018.
