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Satyendra Pathak
Doha
Qatari stocks regained its weekly gaining trend on the back of impressive performances by stocks in realty, transport and services sector.
The Qatar Stock Exchange (QSE) main index gained 7.92 points, or 0.1 percent, during the trading week to close at 10,720.31 points.
Realty sector led the sector indices with a gain of 3.14 percent. The three prime constituents of the sector, United Development Company (UDC), Barwa and Ezdan gained 4.35 percent, 1.83 percent and 3.58 percent respectively to make realty sector the best performing sector index for the week.
Qatar Gas Transport Company (Nakilat) from transport sector and Woqod from the services sector outperformed their peers to lift the index higher.
Qatar Gas Transport Company (Nakilat) was the best performing stock for the week with a gain of 6.6 percent on a trading volume of 2.3 million shares. Nakilat, Woqod and Barwa Real Estate Company were the primary contributors to the weekly index gain. Nakilat was the biggest contributor to the index’s weekly gain, adding 25.7 points to the index.
Woqod was the second biggest contributor to the mentioned gain, tacking on 14.6 points to the index. Moreover, Barwa contributed 10.8 points to the index.
Market capitalisation of the bourse was flat at QR615.9 billion against the previous trading week.
Trading value during the week increased by 17.5 percent to QR1.36 billion against QR1.15 billion in the previous week.
The banks and financial services sector led the trading value during the week, accounting for 41.7 percent of the total trading value. The industrial sector was the second biggest contributor to the overall trading value, accounting for 22 percent of the total.
QNB Group was the top value traded stock during the week with total traded value of QR272.5 million.
Trading volume increased by 9.1 percent to reach 42.6 million shares against 39.1 million in the previous week. The number of transactions rose by 13.5 percent to 29,083 transactions against 25,624 in the previous week.
The banks and financial services sector led the trading volume, accounting for 29.4 percent, followed by the industrial sector which accounted for 25.7 percent of the overall trading volume. UDC was the top volume traded stock during the week with 6.3 million shares.
Foreign institutions remained bullish with net buying of QR383.8 million against net buying of QR235.1 million in the previous week.
Foreign retail investors, however, remained bearish with net selling of QR14.5 million against net selling of QR3.6 million in the previous week.
According to an estimate by QNB Financial Services (QNBFS), foreign institutions have bought Qatari equities worth $285 million on net basis since the beginning of the current financial year.
Qatari institutions remained negative with net selling of QR2.2 million against net selling of QR7.2 million in the week before.
Qatari retail investors also remained bearish with net selling of QR367.1 million against net selling of QR224.3 million the week before.
Of the 46 listed companies, 22 companies ended the week higher, while 20 declined. There was no change in the share prices of the remaining four stocks.
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01/02/2019
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