DOHA: Qatar Exchange (QE) index edged low last week on profit taking by local retail investors. The benchmark index shed 77.42 points or 0.74 percent last week to close at 10,391.17 points.
The market, that opened low after the four-day holidays, firmed up in the following trading sessions before it dipped again as the local individual investors took their heart to offload stocks after Messaieed Petrochemical Holding Company’s (MPHC) announcement to offer 323.19m shares through IPO .
The market capitalisation declined by 0.79 percent or nearly QR5bn last week compared to the previous week to reach QR554bn.
All the sectors entered in negative territory last week, except the industrials. The banking and financial sector dropped 1.37 percent. While Transportation sector shed 3.42 percent, real estate and insurance sectors fell 1.75 percent and 1.29 percent respectively.
Overall the trading activity improved last week, both in terms of value and volume. Trading value increased by 108.95 percent to reach QR1.97bn compared to the previous week’s QR944m. Trading volume increased by 131.17 percent to reach 58 million shares, as against 25 million shares, while the number of transactions rose by 115.67 percent to reach 29,478 last week compared to 13,668 transactions the previous week.
The industrial sector led trading value last week, accounting for 32.38 percent, followed by the banking and financial services sector, real estate sector and consumer goods and services. The banking and financial services sector led trading volume accounting for 25.49 percent of the total, followed by real estate sector and industrial sectors.
The industrial sector led the trading number of transactions accounting for 30.45 percent of the total. Qatar Investors Group led trading value accounting for 16.4 percent of the total followed by Masraf Al Rayan and Barwa Real Estate. Of the total 42 listed companies, nine ended higher last week, while 31 fell and two remained unchanged.
Yesterday, the bourse lost 0.68 percent or 71.37 points to close at 10,391.17. While five sector indices dropped, two advanced marginally. The banking sector which lost 0.39 percent, was mainly dragged down by Masraf Al Rayan. The real estate index was down by 0.99 percent, UDC losing the most.
The Peninsula
