DOHA: A combination of buying weakness and selling strength pulled Qatar Exchange benchmark index down 2.94 percent to close at 9580.77 points last week. Market captialisation shrank 2.85 percent or QR15bn compared to the previous week.
The week saw overall trading value dropping 17.39 percent. Trading volume decreased by 36 percent and number of total transactions fell by 23.89 percent last week. Domestic retail investors and foreign institutional investors were seen bearish all through the week.
Of the 42 stocks lsited, 32 declined and just three advanced while two remained unchanged. Top losers included QNB, Masraf Al Rayan, International Islamic, Medicare, UDC, Barwa Real Estate, Ooredoo, Qatar Electricity and Water and Nakilat. The market was up 14.62 percent up year-to-date yesterday.
All the sector indices under the “All Share Index” category dropped last week, with real estate, telecoms, transportation and the banking and Financial services performing the worst.
The real estate, telecoms and transport sector indices saw all the stocks under the respective sectors dropping last week. Of the 12 banking stocks, 10 fell. QNB lost the most (4.41 percent).
According to the trading data issued by the QE, market capitalisation dropped to QR522bn from the previous week’s QR537bn. Trading value decreased to QR1.4bn from QR1.75bn. Trading volume decreased to 27 million from 42 million shares. Total number of transactions slipped to 15,672 compared to the previous week’s 20,590.
In terms of trading value, the industrials stocks led the market accounting for 40.75 percent of the total, followed by the banking and Financial Services (26.42 percent) and consumer goods and services (13.42 percent),
The banking and financial sector traded the maximum volume with 27.7 percent of the total traded volume. Real estate sector accounted for 23.58 percent, followed by the industrial sector and consumer goods and services.
In terms of transactions, the industrial sector led the trading number accounting for 28.61 percent followed by the banking and financial services (26.90 percent), consumer goods and services (16.47 percent) and the real estate sector (14.34 percent).
Yesterday, the index was down 0.16 percent to 9,580.77. Top losers were Industries Qatar, Vodafone Qatar and Barwa Real Estate. A total of 23 stocks declined. Transportation, real estate, insurance and industrial indices were down. The banking and financial sector index gained 0.45 percent while the consumer goods and services sector index edged 0.20 percent.
The Peninsula
