(MENAFN- Gulf Times) The Qatar Stock Exchange (QSE) index lost 153.98 points, or 1.49%, during the trading week to close at 10,214.19. Market capitalisation fell by 0.83% to QR576.6bn versus QR581.5bn at the end of the previous trading week. Of the 45 listed companies, six ended the week higher, while 36 declined and three remained unchanged. Qatar Cinema & Film Distribution (QCFS) was the best performing stock for the week with a gain of 5.41% on 575 shares traded. On the other hand, Qatar Fuel (QFLS) was the worst performing stock for the week with a decline of 11.1% on 3,529 shares traded.
Industries Qatar (IQCD), Woqod (QFLS) and Doha Bank (DHBK) were the primary contributors to the weekly index loss. IQCD was the biggest contributor to the index's weekly loss, subtracting 62.6 points. QFLS was the second biggest contributor to the mentioned loss, deleting 62.3 points from the index. Moreover, Doha Bank shaved off 15.5 points from the index. On the other hand, QNB Group (QNBK) added 33.2 points to the index.
Trading value during the week increased by 5.9% to QR1,171.2mn versus QR1,106.1mn in the prior week. The consumer goods and services sector led the trading value during the week, accounting for 32.22% of the total. The banks and financial services sector was the second biggest contributor to the overall trading value, accounting for 30.0% of the total. QFLS was the top value traded stock during the week with total traded value of QR360.4mn.
Trading volume fell by 7.5% to reach 26.98mn shares versus 29.2mn shares in the prior week. The number of transactions fell by 0.7% to 19,833 versus 19,972 transactions in the prior week. The banks and financial services sector led the trading volume, accounting for 33.2%, followed by the real estate sector which accounted for 25.1% of the overall trading volume. Barwa (BRES) was the top volume traded stock during the week with 3.5mn shares.
Foreign institutions remained bullish with net buying of QR98.95mn versus net buying of QR359.4mn in the prior week. Qatari institutions remained bearish with net selling of QR24.2mn versus net selling of QR80.5mn in the week before. Foreign retail investors turned bullish with net buying of QR20.6mn versus net selling of QR12.1mn in the prior week. Qatari retail investors remained bearish with net selling of QR95.4mn versus net selling of QR266.8mn the week before.
Foreign institutions bought (net basis) $2.16bn worth of Qatari equities year-to-date.
The general index dropped 1.51% from last week and closed at 10,214.19. The index has been creating a rising-wedge price formation, which is a bearish reversal formation (if breached downwards). We keep our expected weekly support level to 9,600 points the resistance at the 11,000 level.
MENAFN1811201800670000ID1097710442
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.