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Satyendra Pathak
Doha
Qatar's stock market failed to sustain its gaining momentum on the weekly basis as most sector indices closed in the negative territory.
The main index of Qatar Stock Exchange (QSE) index decreased by 169.91 points, or 2.04 percent, during the trading week to close at 8,172.18 points.
Market capitalisation decreased by 1.66 percent to QR446.3 billion against QR453.8 billion at the end of the previous trading week.
Trading value during the week decreased by 11.77 percent to reach QR746.1 million against QR845.6 million in the previous week.
The banks and financial services sector led the trading value during the week, accounting for 48.47 percent of the total trading value. The industrial sector was the second biggest contributor to the overall trading value, accounting for 18.8 percent of the total trading value.
Qatar National Bank was the top value traded stock during the week with total traded value of QR120.5 million.
Trading volume at the bourse also decreased by 18.18 percent to reach 31.8 million shares against 38.9 million shares in the previous week.
The banks and financial services sector led the trading volume, accounting for 46.77 percent, followed by the Real Estate sector which accounted for 18.69 percent.
Qatar First Bank (QFB) was the top volume traded stock during the week with 7.9 million shares.
The number of transactions fell by 11.24 percent to reach 11,276 transactions against 12,704 transactions in the prior week.
The banks and financial services sector led trading number of transactions during this week, accounting for 34.63 percent of the total number of transactions, followed by Industrials sector that accounted for 21.5 percent.
Foreign institutions remained bullish with net buying of QR66 million against net buying of QR75.7 million in the previous week. Foreign retail investors also remained bullish with net buying of QR3.7 million against net buying of QR12.9 million in the previous week.
According to an estimate by QNB Financial Services (QNBFS), foreign institutions bought equities worth $651 million on a net basis since the beginning of the current financial year.
Qatari institutions, however, remained bearish with net selling of QR44.3 million against net selling of QR66.2 million the week before.
Qatari retail investors also remained bearish with net selling of QR25.5 million against net selling of QR22.5 million the week before.
Mannai was the best performing stock for the week with a gain of 9.7 percent on 2,282 shares traded.
On the other hand, Qatari Investors Group (QIG) was the worst performing stock for the week with a decline of 8.7 percent on 122,592 shares traded.
Industries Qatar, Barwa Real Estate and Commercial Bank of Qatar were the primary contributors to the weekly index decline.
Industries Qatar was the biggest contributor to the index's weekly decline, deleting 47.8 points to the index. Barwa was the second biggest contributor to the decline, deleting 21.1 points to the index.
Commercial Bank deleted 19.9 points from the index.
QNB contributed positively to the index, adding 8.1 points.
Of the 45 listed companies, six companies ended the week higher, while 34 declined. There was no change in the share prices of the remaining five stocks.
The week also six of the seven sector indices close in the negative territory. The All Share Insurance Index, which declined 4.43 percent, was the biggest loser during week. The industrial sector and the realty sector, which went down 3.68 percent and 3.43 percent respectively, also weighed heavily on the main index.
The All Share Consumer Goods and Services Index was the only sector index that closed in the green with a gain of 0.77 percent.
While both conventional and Islamic stocks declined, conventional stocks fared better than the Islamic stocks during the week.
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22/10/2017
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