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Investors gain QR9 bn in a week as QSE resumes upward momentum

Investors gain QR9 bn in a week as QSE resumes upward momentum

Satyendra Pathak
Doha
Qatari stocks resumed weekly gaining momentum amid a recovery in oil prices and the news that the National Guarantee Program that provides guarantees to local banks from the Qatar Development Bank with interest-free loans has been extended for a full year instead of six months.
The Qatar Stock Exchange (QSE) main index increased by 137.73 points, or 1.58 percent, during the week to close at 8,873.16 points.
The total wealth of investors increased by 1.8 percent to reach QR504.4 billion as compared to QR495.3 billion at the end of the previous week. Trading value during the week rose by 46.2 percent to reach QR2.284 billion against QR1.562 billion in the previous week.
The banks and financial services sector led the trading value during the week, accounting for 40 percent of the total trading value.
The industrial sector was the second biggest contributor to the overall trading value, accounting for 16 percent of the total trading value.
QNB Group (QNB) was the top value traded stock during the week with a total traded value of QR483.1 million.
The number of transactions also rose by 17 percent to reach 52,911 transactions against 45,212 transactions in the previous week.
The volume of trade, however, decreased by 0.3 percent to reach 967.5 million shares against 970.9 million shares in the previous week.
Industrials sector led the trading volume, accounting for 23.2 percent, followed by the Consumer Goods and Services sector comprising 17.8 percent of the overall trading volume.
Qatar Insurance was the top volume traded stock during the week with a total traded volume of 134.8 million shares. QNB, Masraf Al Rayan, and Qatar Islamic Bank (QIBK) were the primary contributors to the weekly index gain.
QNB was the biggest contributor to the index’s weekly gain, adding 38.1 points to the index. Masraf Al Rayan was the second biggest contributor to the mentioned gain, contributing 35.7 points to the index. Moreover, QIB tacked on 35.6 points to the index.
Qatari institutions remained positive with net buying of QR175 million against net buying of QR100 million in the week before.
Foreign retail investors remained positive with net buying of QR2 million against net buying of QR3 million in the previous week.
Qatari retail investors also remained positive with net buying of QR8 million against net buying of QR3 million the week before.
Foreign institutions, however, ended the week with net selling of QR185 million against net selling of QR106 million in the previous week.
Of the 47 listed companies, 29 companies ended the week higher, while 17 fell and one remained unchanged.
Islamic Holding Group was the best performing stock for the week, with a gain of 33.4 percent. On the other hand, Qatar Oman Investment Company was the worst-performing stock with a decline of 8.9 percent.
The week saw six of the seven sector indices close in the positive territory. The banking sector, which gained 2.35 percent, was the best performing sector index for the week.

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