QSE index drops 156.31 points in week; market capitalisation edges down 0.5% to QR608.7bn

QSE index drops 156.31 points in week; market capitalisation edges down 0.5% to QR608.7bn

The Qatar Stock Exchange (QSE) Index dropped 156.31 points or 1.5% during the shortened 4-day week to close at 10,433.85, QNB Financial Services (QNBFS) said in a report.Market capitalisation edged down 0.5% to QR608.7bn compared with QR611.8bn at the end of the previous trading week.Of the 51 traded companies, some 30 ended the shortened week lower and 20 ended higher, while one was unchanged, according to QNBFS.Qatar German Company for Medical Devices (QGMD) was the worst performing stock for the week, losing 8.3%.Whereas, Al Ahli Bank (ABQK) was the best performing stock for the week, gaining 15%.Qatar Islamic Bank, Commercial Bank and Masraf Al Rayan were the main contributors to the weekly index drop.Qatar Islamic Bank, Commercial Bank removed 42.91 and 38.19 points from the index, respectively. Further, Masraf Al Rayan removed another 30.77 points.Traded value during the shortened week dipped 27.5% to QR2,708mn from QR3,733.7mn in the prior trading week.QNB Group (QNBK) was the top value traded stock during the week with total traded value of QR448.0mn.Traded volume declined 16.1% to 834.5mn shares compared with 994.6mn shares in the prior trading week. The number of transactions fell 25.0% to 84,498 vs 112,591 in the prior week. Masraf Al Rayan