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Investors’ wealth rise to QR544.2 bn as QSE gains for 2nd week in row

Investors’ wealth rise to QR544.2 bn as QSE gains for 2nd week in row

Satyendra Pathak
Doha
Continuing its gaining trend for the second week in a row, the Qatar Stock Exchange (QSE) index increased by 104.5 points, or 1.13 percent, during the week to close at 9,316.44 points.
The week saw QSE’s market capitalisation increase by 1.8 percent to reach QR544.2 billion as compared to QR534.6 billion at the end of the previous week.
Foreign institutions ended the week with another change in direction as they net bought QR10.8 million against net sold QR65.3 million in the previous week.
Foreign retail investors also turned bullish with net buying of QR1.9 million against net selling of QR9.8 million in the previous week.
While Qatari retail investors turned bullish with net buying of QR50.7 million against net selling of QR78.7 million the week before, Qatari institutions turned bearish with net selling of QR63.4 million against net buying of QR153.8 million in the previous week.
Trading value during the week increased by 5.8 percent to reach QR2.8 billion against QR2.6 billion in the previous week. The banks and financial services sector led the trading value during the week, accounting for 34.1 percent of the total trading value.
Real Estate sector was the second biggest contributor to the overall trading value, accounting for 26.3 percent of the total trading value. United Development Company (UDC) was the top value traded stock during the week with total traded value of QR255.3 million.
Trading volume decreased by 13.8 percent to reach 1.5 billion shares against 1.7 billion shares in the previous week.
The Real Estate sector led the trading volume, accounting for 31.5 percent, followed by the banks and financial services sector comprising 25.5 percent of the overall trading volume. UDC was the top volume traded stock during the week with total traded volume of 207.4 million shares.
Industries Qatar (IQ), Qatar Gas Transport Company (Nakilat) and Doha Bank were the primary contributors to the weekly index gain. IQ was the biggest contributor to the index’s weekly gain, adding 24.2 points to the index. Nakilat was the second biggest contributor to the mentioned gain, piling 24.2 points on the index. Moreover, Doha Bank added 18.7 points to the index.
The number of transactions rose by 7.4 percent to reach 48,946 against 45,571 in the previous week.
Qatari Investors Group was the best performing stock for the week with a gain of 16.9 percent.
Of the 47 listed companies, 27 companies ended the week higher, while 18 fell during the week that saw six out of seven sector indices close in the positive territory.
The real estate sector index, which gained over 7 percent, was the best performing sector index for the week.

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