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Satyendra Pathak
Continuing its gaining trend for the third week in a row this year, the Qatar Stock Exchange (QSE) index increased 193.86 points, or 1.57 percent, during the week to close at 12,511.98 points.
Driven by the buying spree of foreign institutions, the market capitalisation of QSE increased 2.3 percent to QR716.4 billion as compared to QR700.3 billion at the end of the previous week.
Foreign institutions remained bullish, closing the week with net buying of QR447 million against net buying of QR798 million in the previous week.
Foreign retail investors also closed the week on a bullish note with net buying of QR19 million against net buying of QR5 million in the previous week.
Qatari institutions, however, remained negative with net selling of QR64 million against net selling of QR474 million in the week before.
Qatari retail investors also remained bearish with net selling of QR401 million against net selling of QR330 million the week before.
While the Qatari shareholders accounted for 57.559 percent of the total buy, the foreign shareholders accounted for 27.38 percent of the total buy. Rest of the buying was done by GCC and Arab investors.
Qatari shareholders accounted for 71.63 percent of the total sales during the week.
Trading value during the week increased by 14.8 percent to QR3,316.7 million against QR2,889.9 million in the previous trading week. QNB Group was the top value traded stock during the week with a total traded value of QR466 million.
Trading volume moved up by 8.3 percent to 951.7 million shares against 878.6 million shares in the previous trading week. Mazaya Real Estate Development was the top volume traded stock during the week with a total traded volume of 109 million shares.
The number of transactions also went up by 18.4 percent to 66,807 against 56,440 in the previous week.
QNB Group, Industries Qatar (IQ) and Masraf Al Rayan were the primary contributors to the weekly index gain. QNB and IQ added 70.5 and 55.7 points to the index, respectively. Moreover, Masraf Al Rayan added another 23.9 points to the index.
Of the 47 companies traded during the week, 31 closed the week higher, while 16 closed lower.
Mannai Corporation was the best performing stock for the week, with a gain of 13.82 percent. On the other hand, Qatar General Insurance and Reinsurance Company was the worst-performing stock with a decline of 2.5 percent.
The week saw six of the seven sector indices close in the positive territory. The transport sector, which gained 2.87 percent on the back of an impressive performance in its main constituent Nakilat, was the best performing sector index for the week.
The real estate sector, which gained 2.68 percent, was the second-best performing sector for the week.
Except for the insurance sector, all the other remaining sectors made gains to lift the QSE index higher.
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