The Qatar Stock Exchange (QSE) Index decreased 164.99 points, or 1.73% during the trading week to close at 9,398.09.

1. `
Page 1 of 7
Market Review and Outlook QSE Index and Volume
The Qatar Stock Exchange (QSE) Index decreased 164.99 points,
or 1.73% during the trading week to close at 9,398.09. Market
capitalization decreased by 1.58% to QR509.09 billion (bn) versus
QR517.28bn at the end of the previous trading week. Of the 44
listed companies, 13 companies ended the week higher, while 31
declined and 0 remained unchanged. Zad Holding (ZHCD) was the
best performing stock for the week with a gain of 9.40% on 1,538
shares traded only. On the other hand, Gulf International Services
(GISS) was the worst performing stock for the week with a decline
of 10.39% on 9.8 million (mn) shares traded.
Industries Qatar (IQCD), QNB Group (QNBK) and Gulf
International Services (GISS) were the primary contributors to the
weekly index decrease. IQCD was the biggest contributor to the
index’s weekly decline, deleting 48.41 points from the index.
QNBK was the second biggest contributor to the decrease, shaving
off 35.58 points from the index. Moreover, GISS erased 13.30
points from the index. On the other hand, Barwa Real Estate Co.
(BRES) contributed positively to the index, adding 8.42 points to
the index.
Trading value during the week increased by 6.26% to reach
QR1.17bn versus QR1.10bn in the prior week. The Banks and
Financial Services sector led the trading value during the week,
accounting for 28.86% of the total trading value. The Telecoms
sector was the second biggest contributor to the overall trading
value, accounting for 20.42% of the total trading value. Vodafone
Qatar (VFQS) was the top value traded stock during the week with
total traded value of QR211.1mn.
Trading volume increased by 32.82% to reach 49.86mn shares
versus 37.54mn shares in the prior week. The number of
transactions declined by 1.78% to reach 15,515 transactions
versus 15,796 transactions in the prior week. The Telecoms sector
led the trading volume, accounting for 46.52%, followed by the
Real Estate sector which accounted for 17.84% of the overall
trading volume. Vodafone Qatar (VFQS) was also the top volume
traded stock during the week with total traded volume of 22.9mn
shares.
Foreign institutions remained bullish with net buying of
QR13.6mn vs. net buying of QR35.4mn in the prior week. Qatari
institutions turned bearish with net selling of QR110.0mn vs. net
buying of QR53.7mn the week before. Foreign retail investors
turned bullish with net buying of QR26.4mn vs. net selling of
QR4.0mn in the prior week. Qatari retail investors turned bullish
with net buying of QR70.0mn vs. net selling of QR85.1mn the
week before. In 2017 YTD, foreign institutions bought (on a net
basis) ~$740mn worth of equities.
Market Indicators
Week ended
Aug 03 , 2017
Week ended
July 27 , 2017
Chg. %
Value Traded (QR mn) 1,170.5 1,101.5 6.3
Exch. Market Cap. (QR mn) 509,086.1 517,283.6 (1.6)
Volume (mn) 49.9 37.5 32.8
Number of Transactions 15,515 15,796 (1.8)
Companies Traded 44 44 0.0
Market Breadth 13:31 18:26 –
Market Indices Close WTD% MTD% YTD%
Total Return 15,760.04 (1.7) (0.1) (6.7)
ALL Share Index 2,678.59 (1.4) (0.0) (6.6)
Banks and Financial Services 2,882.38 (1.5) (0.2) (1.0)
Industrials 2,840.43 (3.4) (0.6) (14.1)
Transportation 2,006.85 (1.6) (1.2) (21.2)
Real Estate 2,095.48 0.3 0.8 (6.6)
Insurance 4,080.45 (1.3) (0.0) (8.0)
Telecoms 1,195.24 0.3 1.5 (0.9)
Consumer Goods & Services 5,588.30 (0.2) 0.8 (5.2)
Al Rayan Islamic Index 3,758.40 (1.1) (0.1) (3.2)
Market Indices
Weekly Index Performance
Regional Indices Close WTD% MTD% YTD%
Weekly Exchange
Traded Value ($ mn)
Exchange Mkt.
Cap. ($ mn)
TTM
P/E**
P/B** Dividend Yield
Qatar (QSE)* 9,398.09 (1.7) (0.1) (10.0) 320.88 139,795.0 16.0 1.6 3.7
Dubai 3,675.12 1.9 1.2 4.1 438.60 101,574.1#
17.2 1.3 3.9
Abu Dhabi 4,596.03 0.6 0.7 1.1 146.68 120,845.3 12.4 1.4 4.5
Saudi Arabia#
7,080.87 (1.3) (0.2) (1.8) 3,557.66 447,401.7 17.0 1.6 3.3
Kuwait 6,825.70 0.3 (0.4) 18.7 151.54 94,263.0 19.1 1.2 5.2
Oman 5,057.57 0.2 0.7 (12.5) 31.08 20,556.8 11.6 1.1 5.4
Bahrain 1,322.58 (1.0) (0.4) 8.4 14.29 21,164.9 8.2 0.8 5.9
Source: Bloomberg, country exchanges and Zawya (** Trailing Twelve Months; * Value traded ($ mn) do not include special trades, if any;
#
Data as of August 2, 2017)
9,469.59
9,406.06
9,308.91
9,360.59
9,398.09
0
8,000,000
16,000,000
9,200
9,350
9,500
30-Jul 31-Jul 1-Aug 2-Aug 3-Aug
Volume QSE Index
1.9%
0.6% 0.3% 0.2%
(1.0%)
(1.3%) (1.7%)
(2.0%)
(1.0%)
0.0%
1.0%
2.0%
3.0%
Dubai
AbuDhabi
Kuwait
Oman
Bahrain
SaudiArabia
Qatar(QSE)*

2. Page 2 of 7
News
Economic & Corporate News
 GISS reported net profit ~QR0.7mn in 2Q2017; operational
results for 1H2017 largely in-line with our model – We note
that the drilling segment seemed to have turned a corner as we
had expected 1H revenue better by 10% vs. our model and 1H
drilling gross margin also surpassing our estimate. On the flip
side, both insurance and catering seemed to have weakened vs.
2017 run rates. The 1H2017 earnings miss vs. our estimate was
predominantly due to an impairment charge of QR11mn and
higher than expected finance costs. We would be buyers on
weakness and maintain our price target of QR28/sh. (QNBFS
Research, company financials)
 VFQS’ net loss narrows to QR57.14mn in 1Q2017-18 –
Vodafone Qatar (VFQS) reported net loss of QR57.14mn in
1Q2017-18 compared to QR74.20mn in 4Q2016-17 (QR99.58mn
in 1Q2016-17), beating estimates by a wide margin. Revenue
came in at QR515.82mn in 1Q2017-18, which represents a
decrease of 0.3% QoQ. Loss per share amounted to QR0.07 in
1Q2017-18 compared to QR0.12 in 1Q2016-17. VFQS’ financial
year starts on April 1 and ends on March 31. VFQS’ Chief
Executive Officer Ian Gray said, “The Company’s 1Q Results
reflect the continued improvements in operational and
financial performance. Total revenue grew by 3.1% to reach
QR516mn at the end of June, driven by growth in both postpaid
and fixed. EBITDA increased significantly to reach QR139mn
at the end of June, representing a 38.6% increase compared to
the same period in 2016, aided by better mix of revenues and
by maintaining strong cost control. The net profit excluding
amortization stood at QR44mn for 1Q2018 led by EBIDTA flow
through. Moreover, company’s customer base increased by
0.4% driven by postpaid growth supported by a rich postpaid
portfolio that offers a wide range of innovative plans to suit all
customer needs.” (Company financials, Gulf-Times.com)
 QNNS’ net profit falls sharply to ~QR30.8mn in 2Q2017, misses
our estimate – Qatar Navigation’s (QNNS) net profit declined
to ~QR30.8mn in 2Q2017 from QR236.21mn in 1Q2017, missing
our estimate by a wide margin. Earnings per share decreased to
QR2.35 in 1H2017 from QR4.86 in 1H2016. In 1H2017,
operating revenues reached QR1.1bn compared to QR1.4bn in
1H2016. Operating profit stood at QR170mn in 1H2017 as
compared to QR378mn in 1H2016. QNNS, which also goes by
the name ‘Milaha’, said its Milaha Maritime & Logistics’ net
profit declined by QR46mn mainly due to continued pricing
pressure in container shipping and lower profits from its ports
business in 1H2017. Milaha Gas & Petrochem’s net profit
declined by QR96mn due to depressed rates and vessel
oversupply that have impacted most of the tanker and gas
carrier sectors the company operates in, in addition to lower
profits from its joint venture operations. Milaha Offshore’s net
profit declined by QR30mn (excluding one-time impairments of
QR45mn), driven mainly by global vessel oversupply, which in
turn has continued to depress charter rates and utilization.
Milaha Trading’s net profit marginally declined by QR1mn due
to lower sales volumes of marine fuels and lubricants. Milaha
Capital’s net profit fell by QR68mn due to lower held-for-
trading investment returns and an available-for-sale
investment impairment from 1Q2017. Milaha’s Chairman
Sheikh Ali bin Jassim al-Thani said, “We are in the midst of an
unusually prolonged global downturn across most marine
sectors. However, we remain financially strong and will
continue to invest prudently for the long term.” Milaha’s
President and CEO Abdulrahman Essa al-Mannai said, “We are
actively taking steps to mitigate the impact of the current
downturn from both a cost as well as revenue perspective. In
this regard, we see a number of short and medium-term
opportunities to position ourselves more strongly for when
markets improve.” (QSE, Gulf-Times.com)
 NLCS reports net loss of QR9.68mn in 2Q2017 – National
Leasing (NLCS) reported net loss of QR9.68mn in 2Q2017 as
compared to net profit of QR0.71mn in 1Q2017. Total Income
came in at QR27.65mn in 2Q2017, which represents decrease of
28.5% QoQ (-46.6% YoY). Loss per share amounted to QR0.18
in 1H2017 as compared to earnings per share of QR0.08 in
1H2016. (QSE, Company financials)
 QOIS’ net profit falls to QR0.98mn in 2Q2017 – Qatar Oman
Investment Company's (QOIS) net profit declined 89.8% QoQ (-
11% YoY) to QR0.98mn in 2Q2017. Net investment and
interest income came in at QR2.50mn in 2Q2017, which
represents a decrease of 77.2% QoQ. However, on YoY basis,
net investment and interest income increased 19.7%. EPS
amounted to QR0.33 in 1H2017 as compared to QR0.41 in
1H2016. (QSE, Company Financials)
 AHCS' bottom-line grows 9.9% QoQ in 2Q2017 – Aamal
Company’s (AHCS) bottom-line grew 9.9% QoQ to
QR125.83mn in 2Q2017. However, on YoY basis, net profit
declined 0.4%. Revenue came in at QR143.71mn in 2Q2017,
which represents a decrease of 82.7% QoQ (-79.7% YoY). EPS
amounted to QR0.38 in 1H2017 as compared to QR0.41 in
1H2016. (QSE, Company Financials)
 BRES awards QR139.95mn for Al Baraha project – Barwa Real
Estate Company (BRES) has awarded construction contract for
Barwa Al Baraha Warehouses and Workshops projects, worth
QR139.95mn, to Qatar Building Engineering Company (QBEC).
The project that includes construction of 573 warehouses and
some 135 workshops is expected to be completed in 18 months.
The project site is on the existing truck parking area of 684,134
square meters (sqm) within the extension of Barwa Al Baraha,
located in the Industrial Area, Zone 91. (Peninsula Qatar)
 ERES grants free eight months for every lease at ‘Ezdan Oasis’
– Ezdan Real Estate Company (ERES) is offering free eight
months lease for every new tenant in the first phase of its
‘Ezdan Oasis’ project. ERES said it recently launched the
inauguration of 1,875 residential units of various sizes ranging
from fully-furnished one, two, to three-bedroom units for
prospective tenants. The units offered for lease in the first
phase consist of 329 one-bedroom, 1,425 two-bedroom, and 58
three-bedroom apartments. The units are spread over 76
buildings, all of which are fully-furnished with exclusive and
modern furniture in a generous space, offering ample choices
for every taste. The project’s first stage includes the opening of
two mosques, sports courts, gyms, and a hypermarket to
provide an integrated service for tenants. (Gulf-Times.com)

3. Page 3 of 7
 Qatar’s central bank sold three-month Treasury bills – Qatar's
central bank said it sold QR750mn of Treasury bills in a
monthly auction on August 1, where yields rose compared to
the previous offer. The three-month bills were sold at a yield of
2.14%, up from 2.05% at the last three-month bill sale in July,
the central bank said. (Zawya)
 Blockade fails to affect Qatar’s LNG exports – The nearly one
month-long blockade imposed by Saudi Arabia-led siege
countries on Qatar has not affected the country’s exports of
LNG. The monthly figures of the value of exports of domestic
goods, released by the Ministry of Development Planning and
Statistics (MDPS) suggested Qatar’s exports of LNG -the key to
its financial health were not hurt in June. June exports of
petroleum gases and other gaseous hydrocarbons climbed
15.8% YoY to QR11.88bn. “The YoY increase in total exports
was mainly due to higher exports of petroleum gases and other
gaseous hydrocarbons (LNG, condensates, propane, butane,
etc.),” the figures released by the MDPS noted. However,
exports of petroleum oils including crude oil fell 22.4% after
rising 8.3% in May. Non-petroleum exports fell 15.1%.
(Peninsula Qatar)
 Blockade: Qatar sees no major impact on economy – Minister of
Economy and Commerce HE Sheikh Ahmed bin Jassim bin
Mohammed Al Thani said that the impact of the Saudi Arabia-
led blockade on Qatari economy is negligible and the biggest
losers of the ongoing crises in terms of businesses are the siege
countries. “We know that the siege countries are the biggest
losers in this crisis in terms of trade and businesses, because
we import more than we export to them. The trade balance was
in their favor, until they imposed a blockade on Qatar siege”, Al
Sharq quoted the Minister as saying. (Peninsula Qatar)
 QCB: Economic and liquidity conditions key to rate decision –
The Qatar Central Bank’s (QCB) actions on interest rate depend
on the overall economic and liquidity conditions, QCB said and
noted it examines the impact of rate hike on the banking sector
from the perspective of financial stability. “Due to pegging of
Qatari riyal to the dollar, market expects similar actions will be
taken by the QCB and the short-term interest rate may move in
the same direction,” QCB said in its 8th Financial Stability
Review. “The rate hike may affect the banking sector’s balance
sheet in many ways,” QCB observed in its analysis on the
impact of stress test on Qatar’s banking system. On the asset-
side, the impact could be realized on the bond portfolio as
yields may respond likewise to rate hike, resulting in loss of
value in the banks’ trading portfolio. The loan portfolio could
see an increase in interest income if there is an increase in the
lending interest rate. However, higher interest rate affects the
debt servicing capacity of the corporate and individual sector
and accordingly, may result in future erosion in asset quality.
The liability side of banks’ balance sheet could see an increase
in interest expense through its rate sensitive liabilities. In
particular, banks’ external borrowing becomes costlier. (Gulf-
Times.com)
 QCB: Banks to benefit from FIFA World Cup 2022 related
infrastructure projects – Continued credit demand for
financing infrastructure projects for FIFA World Cup 2022 will
provide ample opportunities for Qatar’s banking sector, the
Qatar Central Bank (QCB) said, but cautioned the lenders to
“manage their funding profile so that the profitability remains
intact.” In its 8th Financial Stability Review, the QCB said the
country’s banking sector continued to maintain strong capital
adequacy ratios and low delinquency rates, despite strong
lending growth in the recent years. The QCB has been
proactive in strengthening the banking sector and financial
stability through quick implementation of Basel III and other
macro-prudential policies. Prudent management of credit
portfolio has resulted in maintenance of delinquency at low
level, contrary to the expectation of adverse spillovers from
slowdown in the economy, the QCB said. (Gulf-Times.com)
 QCB: Qatar’s banking credit quality improves amid
unfavorable operating environment – The credit quality of
Qatar’s banking sector improved amidst not so favorable
operating environment, the Qatar Central Bank (QCB) said and
noted the non-performing loans (NPL) in absolute terms
declined by nearly 3% during the year and stood at 1.3% of
gross loans. The delinquency rate declined across all the major
economic sectors except for individuals, where it marginally
increased, the QCB said in its latest Financial Stability Review.
The cross-border sector witnessed a higher decline in the non-
performing loans, while the private sector decline was
marginal. With the increase in delinquency rate for the
individual sector, its share in the overall increased to 46.3%,
the highest among the sectors. The share of NPL from the
private corporate sector also increased while that from cross-
border credit declined considerably during the year, the QCB’s
8th Financial Stability Review showed. In order to assess the
impact of a probable risk due to stress on corporate and
household sector financial position, the QCB has stressed the
banking sector’s credit portfolio by assuming high NPL levels
from private sector. (Gulf-Times.com)
 SAK Holding Group predicts realty market turnaround – The
deals in Qatar’s property market would gradually increase in
the coming months because vacant lots of land transactions
will increase because investments from the siege countries are
expected to return. Local investors’ confidence in the real
estate sector will rise, thus, uplifting the index of trust in the
Real Estate Sector, SAK Holding Group noted in its ‘Market
watch’ report. “Stakeholders will witness a significant
improvement in the size and value of transactions, which
indicate that Real Estate Investors still have faith in the Qatari
Real Estate Sector”, the report noted. The report termed the
repercussions of the ongoing siege on Qatar on the local real
estate market insignificant because the real-estate sector has
proved on different occasions its ability to rearrange its
conditions, especially in light of the government determination
to continue the process of urban development according to
plans and timetables prepared in advance. The infrastructure
development projects in different across Qatar, and connecting
them with each other by a new roads network would
contribute to the development of different regions and create
promising new real estate opportunities. (Peninsula Qatar)

4. Page 4 of 7
Qatar Stock Exchange
Top Gainers Top Decliners
Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE)
Most Active Shares by Value (QR Million) Most Active Shares by Volume (Million)
Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE)
Investor Trading Percentage to Total Value Traded Net Traded Value by Nationality (QR Million)
Source: Qatar Stock Exchange (QSE) Source: Qatar Stock Exchange (QSE)
9.4%
4.4%
3.8%
2.3% 2.2%
0.0%
4.0%
8.0%
12.0%
Zad Holding Al Meera
Consumer Goods
Al Ahli Bank Vodafone Qatar Widam Food Co.
-10.4%
-5.0% -4.9% -4.7% -4.4%
-12.0%
-8.0%
-4.0%
0.0%
GulfInternational
Services
DlalaHolding Industries Qatar QatarGeneral
Insurance &
Reinsurance
QatariInvestors
Group
211.1
142.9
117.7
83.3
63.0
0.0
80.0
160.0
240.0
Vodafone Qatar Al Meera
Consumer Goods
QNB Group Gulf
International
Services
Masraf Al Rayan
22.9
3.8 3.3 3.2
1.7
0.0
8.0
16.0
24.0
Vodafone Qatar Gulf
International
Services
Mazaya Qatar United
Development
Doha Bank
0%
20%
40%
60%
80%
100%
Buy Sell
48.48% 42.50%
21.83% 31.23%
10.15% 7.90%
19.53% 18.37%
Qatari Individuals Qatari Institutions
Non-Qatari Individuals Non-Qatari Institutions
823
347
863
307
(40)
40
(200) - 200 400 600 800 1,000
Qatari
Non-Qatari
Net Investment Total Sold Total Bought

5. Page 5 of 7
TECHNICAL ANALYSIS OF THE QSE INDEX
Source: Bloomberg
The Index closed at 9,398.09; down 1.73% from the week before. The Doji candlestick that has been created last week had its toll on the Index and the
indecision weighed in with marginal selling pressure. So far indications are mixed but we may see some correction in the foreseen future. Our first
expected resistance and support levels on the weekly remains around the 10,000 and the 9,000 levels, respectively.
DEFINITIONS OF KEY TERMS USED IN TECHNICAL ANALYSIS
RSI (Relative Strength Index) indicator – RSI is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates
between 0 to 100. The index is deemed to be overbought once the RSI approaches the 70 level, indicating that a correction is likely. On the other hand, if
the RSI approaches 30, it is an indication that the index may be getting oversold and therefore likely to bounce back.
MACD (Moving Average Convergence Divergence) indicator – The indicator consists of the MACD line and a signal line. The divergence or the
convergence of the MACD line with the signal line indicates the strength in the momentum during the uptrend or downtrend, as the case may be. When
the MACD crosses the signal line from below and trades above it, it gives a positive indication. The reverse is the situation for a bearish trend.
Candlestick chart – A candlestick chart is a price chart that displays the high, low, open, and close for a security. The ‘body’ of the chart is portion
between the open and close price, while the high and low intraday movements form the ‘shadow’. The candlestick may represent any time frame. We use
a one-day candlestick chart (every candlestick represents one trading day) in our analysis.
Doji candlestick pattern – A Doji candlestick is formed when a security's open and close are practically equal. The pattern indicates indecisiveness, and
based on preceding price actions and future confirmation, may indicate a bullish or bearish trend reversal.
Shooting Star/Inverted Hammer candlestick patterns – These candlestick patterns have a small real body (open price and close price are near to each
other), and a long upper shadow (large intraday movement on the upside). The Shooting Star is a bearish reversal pattern that forms after a rally. The
Inverted Hammer looks exactly like a Shooting Star, but forms after a downtrend. Inverted Hammers represent a potential bullish trend reversal.

6. Page 6 of 7
Source: Bloomberg
Company Name
Price August
03
% Change
WTD
% Change
YTD
Market Cap.
QR Million
TTM P/E P/B Div. Yield
Qatar National Bank 137.50 (2.34) (7.15) 127,001 10.1 2.0 2.3
Qatar Islamic Bank 97.20 (0.21) (6.45) 22,968 11.1 1.6 4.9
Commercial Bank of Qatar 31.50 0.32 1.77 12,749 301.4 0.7 N/A
Doha Bank 31.80 (2.15) (5.64) 9,859 10.2 0.9 9.1
Al Ahli Bank 31.75 3.76 (14.52) 6,361 9.9 1.3 3.0
Qatar International Islamic Bank 57.50 (2.87) (8.44) 8,704 10.8 1.6 7.0
Masraf Al Rayan 41.25 (1.20) 9.71 30,938 15.1 2.5 4.8
Al Khalij Commercial Bank 13.10 (2.24) (22.94) 4,716 11.1 0.7 5.7
Qatar First Bank 7.59 (0.13) (26.31) 1,518 N/A 0.9 N/A
National Leasing 14.10 1.29 (7.96) 698 N/A 0.7 3.5
Dlala Holding 18.15 (4.97) (15.54) 516 30.8 2.1 N/A
Qatar & Oman Investment 8.63 (3.14) (13.27) 272 24.6 0.9 5.8
Islamic Holding Group 52.40 0.77 (14.10) 297 76.8 2.2 1.9
Banking and Financial Services 226,595
Zad Holding 74.50 9.40 (16.48) 975 9.7 1.1 6.0
Qatar German Co. for Medical Devices 8.15 (1.81) (19.31) 94 N/A 1.3 N/A
Salam International Investment 9.35 0.65 (15.38) 1,069 10.4 0.7 8.6
Medicare Group 83.80 (3.68) 33.23 2,358 34.2 2.5 2.1
Qatar Cinema & Film Distribution 26.25 (2.78) (4.37) 165 43.0 1.3 3.8
Qatar Fuel 109.50 (1.35) (17.91) 10,887 13.3 1.7 5.9
Widam Food Co. 65.90 2.17 (3.09) 1,186 N/A 4.1 5.3
Mannai Corp. 77.10 (1.03) (3.63) 3,517 7.0 1.4 5.2
Al Meera Consumer Goods 158.40 4.42 (9.74) 3,168 16.6 2.5 5.7
Consumer Goods and Services 23,419
Qatar Industrial Manufacturing 43.40 1.05 (2.47) 2,062 9.8 1.4 6.9
Qatar National Cement 73.90 1.09 (5.48) 4,830 12.3 1.6 4.9
Industries Qatar 96.00 (4.86) (18.30) 58,080 18.2 1.8 4.2
Qatari Investors Group 47.40 (4.44) (18.97) 5,893 21.8 2.4 2.1
Qatar Electricity and Water 199.90 (1.77) (11.94) 21,989 14.1 2.7 3.8
Aamal 11.19 (0.97) (17.90) 7,050 15.8 0.9 5.4
Gulf International Services 20.61 (10.39) (33.73) 3,830 N/A 1.1 4.9
Mesaieed Petrochemical Holding 13.15 0.31 (16.77) 16,521 16.6 1.2 4.6
Industrials 120,254
Qatar Insurance 70.00 (0.71) (5.07) 19,412 20.1 2.0 1.9
Doha Insurance 14.09 (1.81) (22.58) 705 9.1 0.7 4.3
Qatar General Insurance & Reinsurance 29.70 (4.65) (36.81) 2,599 15.0 0.4 5.1
Al Khaleej Takaful Insurance 17.00 (1.39) (19.43) 434 33.8 0.8 3.5
Qatar Islamic Insurance 59.00 (3.28) 16.60 885 13.9 2.8 5.9
Insurance 24,034
United Development 17.00 (0.47) (17.68) 6,019 10.5 0.6 7.4
Barw a Real Estate 34.30 1.93 3.16 13,347 10.2 0.8 7.3
Ezdan Real Estate 13.09 (0.08) (13.37) 34,721 16.9 1.2 3.8
Mazaya Qatar Real Estate Development 11.23 (0.88) (18.06) 1,300 24.5 0.9 N/A
Real Estate 55,388
Ooredoo 97.90 (0.10) (3.83) 31,359 17.2 1.4 3.6
Vodafone Qatar 9.10 2.25 (2.88) 7,693 N/A 1.7 N/A
Telecoms 39,052
Qatar Navigation (Milaha) 65.70 (1.94) (31.28) 7,524 17.5 0.5 5.3
Gulf Warehousing 48.00 (3.03) (14.29) 2,813 13.4 1.9 3.3
Qatar Gas Transport (Nakilat) 18.06 (1.04) (21.78) 10,006 11.6 1.9 5.5
Transportation 20,343
Qatar Exchange 509,086

7. Contacts
Saugata Sarkar Shahan Keushgerian Zaid al-Nafoosi , CMT, CFTe
Head of Research Senior Research Analyst Senior Research Analyst
Tel: (+974) 4476 6534 Tel: (+974) 4476 6509 Tel: (+974) 4476 6535
saugata.sarkar@qnbfs.com.qa shahan.keushgerian@qnbfs.com.qa zaid.alnafoosi@qnbfs.com.qa
Mohamed Abo Daff QNB Financial Services Co. W.L.L.
Senior Research Analyst Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6589 PO Box 24025
mohd.abodaff@qnbfs.com.qa Doha, Qatar
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