by Basheer Yusief Kahloot
Qatar Exchange Index witnessed steady rise throughout its five straight sessions during this week which reached its peak on Monday.
There was no special news during the week about the listed companies; however, the consolidated balance sheet for the banks issued on Monday showed reduction of the assets of their assets by the end of August at about QR2.8bn from June.
Despite lack of supportive and motivating news for trading during the week; however, the general index gain surprised everyone as breached the barrier of 10,000 points and even crossed 10,100 points, an increase of 2.25 percent from the previous week.
All-share index also rose by 1.88 percent, and the six-sector indices gained. The market capitalisation added QR9.1bn to reach QR550.5bn.
This past week the general index (QEIgained 222.8 points or 2.25 percent, to reach the level of 10109.5, while the all-share index rose by 46.9 points or 1.88 percent to 2,539.8 points.
The general index and index of the all-share depended in their rise on the gain of the six-sector stock prices. The transportation sector increased by 5.06 percent, the telecommunications sector by 2.50 percent, real estate 2.44 percent, banks increased by 1.94 percent, industry zone by 1.45 percent, while insurance sector lagged by (0.79 percent).
The rise was a result of higher prices for shares of 28 companies, and reduction in 10 companies’ share prices, with the stability of the share prices of four companies, which are Gulf International, Al Ahli, Gulf Warehousing, and Islamic Holding — all remained unchanged from the previous week.
Al khalij share price was the highest with 11.79 percent, followed by ihe Investors’ share price which rose by 8.54 percent, Qatar Navigation share price by 7.85 percent, the price of shares of Aamal 6.53 percent, and those of International Islamic 6.43 percent.
In contrast, Cinema share price dropped by 3.84 percent, followed by the share price of General Insurance (1.67 percent), Electricity and Water by 1.27 percent, Al Mannai (1.14 percent), Qatar Insurance (0.81 percent).
Regarding liquidity, the total trading volume has risen to the level of QR1.8109bn, and the daily average rose to QR362.6m, compared with QR300.1m.
The total trading of the top six companies amounted around QR622m, 34.4 percent of the total. Where trading on shares of industries came in the foreground by QR147.1m, followed by trading on the shares of Qatar Insurance valued at QR109m, QNB valueat QR97.7m, Commercial Bank at QR92.6m, Gulf International at QR90.9m and the Investors at QR84.7m.
The total market capitalisation increased by about QR9.1bn to reach at the close of the week to QR550.5bn. Qatar institutional ivestors’ net buying worth QR 99.7m against net sales from all other categories, where Qatari individuals sold a net of QR83.6m, and non-Qatari individuals sold stocks worth QR9.4m, and non-Qatari institutional investors’ net selling amounted to QR 6.8m.
To sum up, the stock index has once again succeeded in continuing to rise strongly and re-install itself above the level of 10,000 points. All main groups, except the insurance sector, gained in the past week.