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Satyendra Pathak
Doha
Qatari stocks resumed gaining momentum as both foreign and Qatari institutional investors remained bullish throughout the week.
The Qatar Stock Exchange (QSE) increased by 210.47 points, or 2.07 percent during the week to close at 10,358.35 points.
Foreign institutions ended the week with net buying of QR73.6 million against net selling of QR44.5 million in the previous week. Qatari institutions also remained bullish with net buying of QR110.6 million against net buying of QR35.6 million in the week before.
According to an estimate by QNB Financial Services (QNBFS), foreign institutions have bought Qatari equities worth $1.4 billion on net basis since the start of 2019.
The week saw market capitalisation of the exchange increase by 2 percent to reach QR573.3 billion as compared to QR562.2 billion at the end of the previous week.
Trading value during the week decreased by 51 percent to reach QR1.11 billion against QR2.2 billion in the previous week.
The banks and financial services sector led the trading value during the week, accounting for 55.5 percent of the total trading value. Industrial sector was the second biggest contributor to the overall trading value, accounting for 16.3 percent of the total trading value.
QNB was the top value traded stock during the week with total traded value of QR317 million.
Trading volume decreased by 4.5 percent to reach 361.4 million shares against 378.6 million shares in the previous week.
Banks and financial services sector led the trading volume, accounting for 33.4 percent, followed by the industrial sector, which accounted for 29.2 percent of the overall trading volume.
Aamal was the top volume traded stock during the week with total traded volume of 61.3 million shares.
The number of transactions also decreased by 20.5 percent to reach 31,235 against 39,298 in the previous week.
Qatar Oman Investment Company was the best performing stock for the week, with a gain of 9.3 percent on 22.8 million shares traded.
On the other hand, Islamic Holding Group was the worst performing stock with a decline of 8.8 percent on 7.3 million shares traded.
Industries Qatar (IQ), Qatar National Bank (QNB) and Qatar Islamic Bank (QIB) were the primary contributors to the weekly index gain.
IQ was the biggest contributor to the index’s weekly increase, adding 46.6 points to the index. QNB was the second biggest contributor to the mentioned gain, tacking on 40.7 points to the index. Moreover, QIB contributed 31.8 points to the index.
Of the 46 listed companies, 26 companies ended the week higher. While 16 stocks declined, there was no change in the stock process of the remaining four stocks.
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06/12/2019
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