Backed by an impressive streak during the month of November, stocks listed on the Qatar Stock Exchange (QSE) crossed the total wealth of $164.79 billion (QAR 600 billion) with a positive trading outlook in the first week of December.
At the end of the first week of December, the QSE Index rose by 175 points to close 10,465 points as stocks continued to gain value for the second week in a row. The market capitalization at the stock exchange grew more than $3.30 billion to almost cross the ?$165.89 billion mark when compared to the previous week.
Foreign institutional investors accounted for more than 45 percent of the total buy as they continued to be bullish throughout the week.
Compared to the previous trading week, the trading value during the first week of December increased substantially to touch $1.12 billion against $640 million posted the previous week. Qatar Gas Transport Company (Nakilat) was the top value traded stock during the week with a total traded value of $246.64 million.
Nakilat was once again the most traded stock by volume during the first week of December with a total trade volume of 280.96 million shares as the total trade volume on QSE rose to reach 1.439 billion shares against 1.042 billion shares in the previous trading week.
Number of Transactions
The number of transactions on the stock exchange also saw significant growth to reach 72,908 against 54,325 in the previous week.
Shares of Qatar-based Islamic brokerage company, Inma Holding performed the most in the week after rising more than 34.836 percent. Qatar Cinema & Film Distributing was the worst-performing stock with a drop of 7 percent.
38 of the 47 listed companies improved their prices compared to the last week of November. While eight stocks declined, there was no change in the share price of the remaining one stock.
The week also saw six out of the seven sector indices close in the positive territory. The real estate sector, which gained 5 percent, was the best performing sector index for the week.