QNB Report

The Qatar Stock Exchange (QSE) experienced a decline of 195.44 points, or 2.2%, closing at 8,810.17 points, down from the previous week's figure. Market capitalisation also decreased by 1.9% to QR535.6bn from QR546.1bn at the end of the prior trading week. Out of the 54 companies traded, 12 saw an increase, one remained unchanged, while 41 declined.

QGRI was the top-performing stock for the week, rising by 4.0%, while IQCD faced the worst performance, dropping 8.1%. The main contributors to the weekly index decline were IQCD, QIBK, and ALRayan Bank, shaving off 83.86, 38.64, and 22.87 points respectively. Traded value during the week declined by 7.0% to QR1,415.5mn compared to QR1,522.7mn in the previous week.

QNBK was the top-value stock traded during the week with a total value of QR192.0mn. Traded volume fell by 10.7% to 594.9mn shares compared to 666.5mn shares in the prior week. However, the number of transactions increased by 4.8% to 100,299 compared to 95,730 in the previous week. AlRayan Bank (MARK) topped the list of transactions with a total volume of 78.7mn shares.

Foreign institutions turned bullish, concluding the week with net buying of QR53.4mn, contrasting their previous week's net selling of QR37.2mn. Qatari institutions remained bearish, ending the week with net selling of QR35.4mn, up from the previous week's QR30mn. Foreign retail investors ended the week with net selling of QR7.7mn, while Qatari retail investors ended with net selling of QR10.3mn.

Globally, foreign institutions hold a net bearish position on Qatari equities of $54.4mn for the year, with GCC institutions also net sellers by $6.1mn. Another week of decline saw the QSE index drop by 2.2%, breaking below the psychological 9,000 level, currently trading at 8,810.2 points. The index remains below its six-year low, suggesting a potential continuation of the downward trend towards the 8,300 level. The major weekly resistance level is now at the 9,000 level.