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Investors gain QR17 bn in a week as QSE turns bullish

Investors gain QR17 bn in a week as QSE turns bullish

Satyendra Pathak
Doha
Qatari stocks resumed its weekly gaining trend as Qatar Stock Exchange (QSE) main index increased by 1.83 percent during the week to close at 9,940.06 points.
The total wealth of investors increased almost QR17 billion as QSE’s market capitalisation increased by 2.9 percent to QR588 billion compared to QR571.2 billion at the end of the previous week.
Trading value during the week increased by a whopping 64.4 percent to reach QR3.7 billion against QR2.3 billion in the previous trading week. United Development Company (UDC) was the top value traded stock during the week with total traded value of QR660 million.
Trading volume increased by 47.2 percent to reach 2.1 billion shares against 1.46 billion shares in the previous trading week. UDC was the top volume traded stock during the week with a total traded volume of 415.3 million shares.
The number of transactions also increased 23 percent to reach 60,097 against 48,855 transactions in the previous week. Industries Qatar (IQ), UDC and Mesaieed Petrochem (MPHC) were the primary contributors to the weekly index gain.
IQ was the largest contributor to the index’s weekly gain, adding 43.8 points to the index. UDC was the second biggest contributor to the mentioned gains, adding 36.3 points to the index. Moreover, MPHC added another 19.7 points to the overall index.
United Development Company (UDC) was also the best performing stock for the week with a gain of 17.7 percent. On the other hand, Islamic Holding Group (INMA) was the worst-performing stock with a decline of 5.7 percent.
Of the 47 traded companies during the week, 38 companies ended the week higher. While six stocks fell, there was no change in the stock prices of the remaining three companies.
The week also saw six of the seven sector indices close in the positive territory.
The industrial sector, which went up 8.7 percent, was the best performing sector index for the week.
The industrial sector and the banking sector that increased 3.22 percent and 1.19 percent respectively were also instrumental in lifting the main index higher.
Qatari individual investors remained bullish throughout the week and accounted for 54.26 percent of total buy during the week. They bought shares worth more than QR2 billion during the week.
Together with the Qatari institutional investors, they accounted for 68.79 percent of total buy.

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