Qatar Stock Exchange Gains Nearly QR13 Billion Amid Heavy Trading Volume

Published June 23rd, 2019 - 06:30 GMT
Trading volume increased by 90.1 percent to reach 225.1 million shares
Trading volume increased by 90.1 percent to reach 225.1 million shares. (Shutterstock)
Highlights
The QSE main index increased by 172.79 points, or 1.64 percent, during the trading week to close at 10,688.67 points. 

Qatar’s stock exchange gained almost QR13 billion in a week as Qatari stocks made impressive gains amid heavy trading volume. Market capitalisation of Qatar Stock Exchange (QSE) increased by 2.1 percent to QR590 billion against QR577.8 billion the previous trading week.  


The QSE main index increased by 172.79 points, or 1.64 percent, during the trading week to close at 10,688.67 points. 

Trading volume increased by 90.1 percent to reach 225.1 million shares against 118.4 million shares in the previous week. 

The banks and financial services sector led the trading volume, accounting for 74.6 percent, followed by the consumer goods and services sector which accounted for 8.3 percent of the overall trading volume. 

Qatar First Bank (QFB) was the top volume traded stock during the week with 46.1 million shares.

Trading value during the week increased by 0.01 percent to QR1.69 billion against QR1.69 billion in the previous week. 

The banks and financial services sector led the trading value during the week, accounting for 47.2 percent of the total trading value. 

The industrial sector was the second biggest contributor to the overall trading value, accounting for 18.3 percent of the total. 

Qatar National Bank (QNB) was the top value traded stock during the week with total traded value of QR289.3 million.

The number of transactions, however, fell by 17.3 percent to 33,961 against 41,041 in the previous week. 

Foreign institutions remained bullish with net buying of QR266.6 million against net buying of QR366.7 million in the previous week. 

According to an estimate by QNB Financial Services (QNBFS), foreign institutions have bought Qatari equities worth $1.13 billion on net basis since the beginning of this financial year. Foreign retail investors remained negative with net selling of QR14.6 million against net selling of QR9.4 million in the previous week.

Qatari institutions remained bearish with net selling of QR137.2 million against net selling of QR102.4 million in the week before. Qatari retail investors also remained bearish with net selling of QR110.8 million against net selling of QR254.9 million in the week before. 

QNB, Masraf Al Rayan and Nakilat were the primary contributors to the weekly index gain. QNB was the biggest contributor to the index’s weekly increase, adding 88 points to the index. Masraf Al Rayan was the second biggest contributor to the mentioned gain, contributing 30.2 points to the index. Moreover, Nakilat tacked on 18.2 points to the index.

Of the 46 listed companies, 29 companies ended the week higher, while 17 declined. Al Khaleej Takaful Insurance was the best performing stock for the week with a gain of 21.8 percent on a trading volume of 1.97 million shares.


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