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Satyendra Pathak
Doha
Continuing its gaining trend for the second week in a row, the Qatar Stock Exchange (QSE) index gained 88.64 points, or 0.86 percent, during the week to close at 10,363.20 points.
The week saw market capitalisation of the bourse rise by 0.7 percent to reach QR572.4 billion as compared to QR568.5 billion at the end of the previous week as foreign investors remained bullish throughout the week.
Foreign institutions ended the week with net buying of QR67.2 million against net buying of QR200.9 million in the previous week.
According to an estimate by QNB Financial Services (QNBFS), foreign institutions have bought Qatari equities worth $1.38 billion on net basis since the start of this year.
Despite selling pressure from Qatari investors 30 out of the 45 traded companies ended the week higher.
Islamic Holding Group was the best performing stock for the week, with a gain of 9.6 percent on 9.1 million shares traded.
Qatar International Islamic Bank (QIIB), Woqod and Commercial Bank were the primary contributors to the weekly index gain. QIIB was the biggest contributor to the index’s weekly increase, adding 24.3 points to the index. Woqod was the second biggest contributor to the mentioned gains, contributing 20.6 points to the index. Moreover, Commercial Bank tacked on 11.1 points to the index.
Trading value during the week increased by 21.2 percent to reach QR1.064 billion against QR878.3 million in the previous week.
The banks and financial services sector led the trading value during the week, accounting for 65.5 percent of the total trading value. Industrial sector was the second biggest contributor to the overall trading value, accounting for 13.7 percent of the total trading value. QIIB was the top value traded stock during the week with total traded value of QR252.5 million.
Trading volume decreased by 23.2 percent to reach 333.1 million shares against 433.7 million shares in the previous week.
Banks and financial services sector led the trading volume, accounting for 38.43 percent, followed by the industrial sector, which accounted for 29.2 percent of the overall trading volume. Aamal Holding was also the top volume traded stock during the week with total traded volume of 52.3 million shares.
The number of transactions also increased by 29.5 percent to reach 29,160 against 22,521 in the previous week.
The week saw six of the seven sector indices close in the positive territory. The insurance sector, which gained 3.13 percent, was the best performing sector index for the week.
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17/11/2019
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