Foreign institutions remain bullish on Qatar bourse: QNBFS

Foreign institutions remained bullish at the Qatar Stock Exchange (QSE), ending the week with net buying of QR173mn compared to net buying of QR65mn in the prior week, according to QNB Financial Services (QNBFS). Qatari institutions remained negative with net selling of QR115mn compared to net selling of QR34mn in the week before, QNBFS said. Foreign retail investors ended the week with net buying of QR1mn compared to net buying of QR1mn in the prior week. Qatari retail investors remained bearish with net selling of QR59mn versus net selling of QR32mn the week before. Year to date (YTD - as of Wednesday closing), foreigners were net buyers of $1,683.1mn.Meanwhile, the QSE index edged up by 9.06 points or 0.08% during the short week due to public holiday, to close at 11,696.47. Market capitalisation moved down by 0.05% to QR668.8bn compared to QR669.2bn at the end of the previous week, QNBFS noted. Of the 47 traded companies, 12 ended the week higher, while 35 ended lower. Industries Qatar (IQCD) was the “best performing stock” for the week, with a gain of 2.25%. Industries Qatar (IQCD), QNB Group (QNBK) and Nakilat (QGTS) were the primary contributors to the weekly index gain. IQCD and QNBK added 37.9 and 25.5 points to the index, respectively. Moreover, QGTS added another 5.9 points to the index, QNBFS said. Trading value during the week dropped by 40.1% to QR1,159.2mn compared to QR1,933.9mn in the prior trading week. QNB Group was the top value traded stock during the week with total traded value of QR183.8mn. Trading volume also decreased by 26.5% to 417.9mn shares compared to 568.7mn shares in the prior trading week. The number of transactions went down by 37.0% to 32,592 versus 51,725 in the prior week. Salam International was the top volume traded stock during the week with total traded volume of 77.7mn shares, QNBFS said.