The QSE Index gained 0.46% over the week to close at 11,347.15, with market capitalization increasing slightly to QR598.9 billion. Trading value rose 1.51% to QR2.34 billion, led by the Banks and Financial Services sector. Trading volume increased 6.88% to 57.9 million shares, led by the Real Estate sector. Foreign institutions turned bullish and net bought QR384.9 million worth of stocks, while Qatari institutions net sold QR211.7 million worth.
The QE Index declined 5.12% for the week. Trading value and volume decreased as well. QNBK, MARK and IQCD were the biggest contributors to the weekly index decline. Only MERS ended the week with a gain. Foreign investors remained bearish with net selling while Qatari investors remained bullish with net buying. The economy is expected to grow in 2014 and 2015, driven by non-hydrocarbon sectors. Inflation is expected to remain moderate while the current account surplus is expected to decrease. CBQK successfully issued $750 million in bonds and Empower paid the first installment of its loan to Doha Bank. Woqod is finalizing its five-year plan to expand facilities
- The Qatar Stock Exchange (QSE) Index declined 0.88% over the week, with trading value and volume decreasing as well. The biggest decliners were Gulf International Services, Ezdan Holding Group, and Qatar Islamic Bank.
- Foreign and Qatari retail investors were net buyers during the week, while Qatari and foreign institutions were net sellers.
- Several companies reported financial results, with Nakilat and United Development Company reporting profits in line with estimates. Qatar's banking sector loan book declined slightly in January while deposits also decreased.
The Qatar Stock Exchange Index gained 5.22% over the week to close at 12,520.66, with market capitalization rising 4.2% to QR676.1 billion. Trading value increased 73.4% to QR3.5 billion compared to the previous week, led by the Banks & Financial Services and Real Estate sectors. Ezdan Holding Group, Masraf Al Rayan and Barwa Real Estate were the biggest contributors to the weekly index gain, while QNB Group, Ooredoo and Doha Bank negatively contributed. Foreign institutions remained net buyers during the week at QR144.3 million.
The Qatar Exchange Index lost 0.17% over the shortened trading week to close at 10,468.59 points. Trading value decreased 53.2% to QR944.8 million due to the shortened week. Gulf International Services was the top contributor to index gains after announcing a contract win, while Industries Qatar dragged the index lower. The report also provided regional market performance updates and highlights recent economic news and corporate developments in Qatar.
- The QSE Index increased 1.9% over the week to close at 12,515.86 points, with market capitalization up 0.85% to QR660.09 billion.
- Trading value increased 22.25% to QR2.72 billion compared to the prior week, led by the Real Estate sector which accounted for 32.71% of total trading value.
- Ezdan Holding Group (ERES) was the best performing stock for the week, rising 17.79%, and was also the top traded stock by value and volume.
The QSE Index gained 1.6% over the week to close at 12,092.25 points. Trading value decreased 37.6% to QR3.1 billion, while trading volume decreased 48.85% to 77.66 million shares. Industries Qatar, Masraf Al Rayan and QNB Group contributed most to index gains, while Ezdan Holding Group and Qatar Insurance contributed losses. Foreign institutions turned bearish with net selling of QR186.1 million, while Qatari institutions turned bullish with net buying of QR357.6 million.
The QE Index declined 5.12% for the week. Trading value and volume decreased as well. QNBK, MARK and IQCD were the biggest contributors to the weekly index decline. Only MERS ended the week with a gain. Foreign investors remained bearish with net selling while Qatari investors remained bullish with net buying. The economy is expected to grow in 2014 and 2015, driven by non-hydrocarbon sectors. Inflation is expected to remain moderate while the current account surplus is expected to decrease. CBQK successfully issued $750 million in bonds and Empower paid the first installment of its loan to Doha Bank. Woqod is finalizing its five-year plan to expand facilities
- The Qatar Stock Exchange (QSE) Index declined 0.88% over the week, with trading value and volume decreasing as well. The biggest decliners were Gulf International Services, Ezdan Holding Group, and Qatar Islamic Bank.
- Foreign and Qatari retail investors were net buyers during the week, while Qatari and foreign institutions were net sellers.
- Several companies reported financial results, with Nakilat and United Development Company reporting profits in line with estimates. Qatar's banking sector loan book declined slightly in January while deposits also decreased.
The Qatar Stock Exchange Index gained 5.22% over the week to close at 12,520.66, with market capitalization rising 4.2% to QR676.1 billion. Trading value increased 73.4% to QR3.5 billion compared to the previous week, led by the Banks & Financial Services and Real Estate sectors. Ezdan Holding Group, Masraf Al Rayan and Barwa Real Estate were the biggest contributors to the weekly index gain, while QNB Group, Ooredoo and Doha Bank negatively contributed. Foreign institutions remained net buyers during the week at QR144.3 million.
The Qatar Exchange Index lost 0.17% over the shortened trading week to close at 10,468.59 points. Trading value decreased 53.2% to QR944.8 million due to the shortened week. Gulf International Services was the top contributor to index gains after announcing a contract win, while Industries Qatar dragged the index lower. The report also provided regional market performance updates and highlights recent economic news and corporate developments in Qatar.
- The QSE Index increased 1.9% over the week to close at 12,515.86 points, with market capitalization up 0.85% to QR660.09 billion.
- Trading value increased 22.25% to QR2.72 billion compared to the prior week, led by the Real Estate sector which accounted for 32.71% of total trading value.
- Ezdan Holding Group (ERES) was the best performing stock for the week, rising 17.79%, and was also the top traded stock by value and volume.
The QSE Index gained 1.6% over the week to close at 12,092.25 points. Trading value decreased 37.6% to QR3.1 billion, while trading volume decreased 48.85% to 77.66 million shares. Industries Qatar, Masraf Al Rayan and QNB Group contributed most to index gains, while Ezdan Holding Group and Qatar Insurance contributed losses. Foreign institutions turned bearish with net selling of QR186.1 million, while Qatari institutions turned bullish with net buying of QR357.6 million.
The Qatari stock market declined slightly over the week. Trading value increased slightly while volume decreased. Foreign institutions remained bearish through net selling, while Qatari institutions and retail investors remained bullish through net buying. The biggest decliners for the week were Ezdan Holding Group, Commercial Bank of Qatar, and Industries Qatar. Several companies set dates to disclose upcoming quarterly financial results. Qatar also amended rules regarding classification of GCC citizens invested in Qatari equities.
The QSE Index gained 1.98% over the week to close at 12,133.23, with market capitalization increasing 1.3% to QR642.36 billion. Ezdan Holding Group was the best performing stock, gaining 8.19%, while QNB Group declined the most by 1.44%. Trading value increased 54.23% to QR1.53 billion due to higher trading in the banks and financial services sector. Foreign institutions remained net buyers during the week at QR161.1 million.
The Qatari stock market gained slightly over the week. Trading volume and value decreased compared to the previous week. Industries Qatar and Qatar Islamic Bank were the largest contributors to the weekly index gain, while Ooredoo and Qatar Insurance negatively contributed. Foreign institutions remained net sellers during the week, while Qatari institutions were net buyers. Several companies announced dividends for 2014, with Gulf International Services announcing a large year-over-year increase.
The QSE Index lost 0.1% over the week. Trading value decreased 13.8% to QR1.32bn, while volume fell 25.1% to 26.36mn shares. Ezdan Holding Group saw the largest decline of 3.78%, while Ahli Bank had the largest gain of 6.52%. Foreign institutions remained net buyers during the week, while Qatari institutions turned to net buying. The market outlook cites Qatar's economy continuing to expand due to growth in non-oil sectors such as construction and financial services.
The QSE Index increased slightly by 0.22% over the week. Trading value decreased slightly while volume declined more at 5.94%. Foreign and Qatari institutions remained net buyers while retail investors remained net sellers. QEWS, DHBK and ORDS were the top index contributors while QNBK was the top detractor. In company news, QEWS' profits rose 31.4% QoQ in line with estimates. ERES missed estimates due to lower investment income and pressure in hotels/malls. BRES' profits declined 9.8% QoQ due to non-recurring gains in prior period. ORDS' profits narrowed slightly QoQ with continued data revenue growth. Q
The Qatari stock market gained slightly over the shortened trading week, with the Qatar Stock Exchange index rising 0.13% and market capitalization remaining unchanged. Trading volume and value both declined significantly compared to the previous week. The top gaining stocks were Gulf International Services and Doha Insurance, while the worst performers were Gulf Warehousing and Qatar Cinema. Looking ahead, analysts expect the Qatari market's support level to remain at 11,000 points and resistance at 12,000 points.
The Qatar Stock Exchange Index gained 0.75% over the week to close at 11,858.01 points. Trading value increased by 14.67% to reach QR1.01 billion compared to the prior week. The Banks and Financial Services sector accounted for the largest portion of trading value and volume. Several companies reported quarterly earnings results, with MERS posting higher quarterly profit but QOIS and QISI seeing large declines in net income. Major projects were also announced, including a QR1.8 billion financing agreement for logistics infrastructure and a QR2.2 billion deal to support a water reservoir project.
- The Qatar Stock Exchange Index lost 1.42% over the week to close at 11,439.30 points as 32 stocks fell, 8 rose, and 3 remained unchanged. Trading value remained flat at QR1.17bn while volume increased 1.9% to 29.1mn shares.
- Foreign institutions remained net buyers during the week at QR25.4mn while Qatari institutions were net sellers at QR79.8mn. Qatar's population increased 2.8% month-over-month to 2.412 million residents as of October 31, 2015.
- The Qatar Central Bank auctioned QR2bn in treasury bills, with yields rising from the previous auction. Emir Tamim bin
QNBFS Weekly Market Report February 9, 2017QNB Group
The Qatar Stock Exchange Index gained slightly over the week. Trading volume and value increased compared to the previous week. Real estate stocks like Barwa Real Estate contributed most to index gains, while Industries Qatar subtracted from the index. The banks and financial, real estate, and telecom sectors led trading by value and volume. Foreign and Qatari institutions were net buyers, while foreign retail investors were also net buyers and Qatari retail investors were net sellers. Several companies reported financial results, with United Development Co. beating estimates but recommending a lower dividend, while Industries Qatar and Gulf International Services reported declines from estimates.
The QE Index gained slightly during the week but market capitalization decreased slightly. Trading value, volume, and number of transactions all declined compared to the previous week. Two stocks will be added to the QE Index while two will be removed. The US Federal Reserve further reduced its bond purchasing program. Projected spending on infrastructure and facilities for the 2022 World Cup is estimated at $50 billion for 2014.
- The QSE Index lost 0.13% over the week to close at 11,770.25, with market capitalization decreasing slightly. Trading value and volume also decreased from the prior week.
- The Banks and Financial Services sector contributed the most to trading value and volume, while Masraf Al Rayan, Barwa Real Estate, and Vodafone Qatar were the biggest detractors from the weekly index loss.
- Foreign institutions turned bullish with net buying during the week, while Qatari and foreign retail investors turned bearish with net selling.
The Qatar Stock Exchange Index lost 541 points, or 4.35%, during the week. Trading value increased 57% while volume rose 54%. The real estate sector contributed most to trading value and volume. Ezdan Holding Group saw the biggest losses and was the top traded stock by value and volume. Foreign institutions remained net buyers while Qatari institutions were net sellers.
- The QSE Index declined 2.46% over the week due to falls in Industries Qatar, Masraf Al Rayan and Ezdan Holding Group. Trading value and volume also decreased over the week.
- Foreign institutions were net sellers over the week while Qatari institutions were net buyers. Qatar's GDP is projected to grow over 7% annually through 2017 due to investments in non-hydrocarbon sectors.
- Company news included MERS reporting a higher profit and dividend for 2014 and Mesaieed Petrochemical guiding to lower sales volumes and earnings in 2015.
The Qatari stock market declined slightly over the week. Trading value increased slightly while volume decreased. Foreign institutions remained bearish through net selling, while Qatari institutions and retail investors remained bullish through net buying. The biggest decliners for the week were Ezdan Holding Group, Commercial Bank of Qatar, and Industries Qatar. Several companies set dates to disclose upcoming quarterly financial results. Qatar also amended rules regarding classification of GCC citizens invested in Qatari equities.
The QSE Index gained 1.98% over the week to close at 12,133.23, with market capitalization increasing 1.3% to QR642.36 billion. Ezdan Holding Group was the best performing stock, gaining 8.19%, while QNB Group declined the most by 1.44%. Trading value increased 54.23% to QR1.53 billion due to higher trading in the banks and financial services sector. Foreign institutions remained net buyers during the week at QR161.1 million.
The Qatari stock market gained slightly over the week. Trading volume and value decreased compared to the previous week. Industries Qatar and Qatar Islamic Bank were the largest contributors to the weekly index gain, while Ooredoo and Qatar Insurance negatively contributed. Foreign institutions remained net sellers during the week, while Qatari institutions were net buyers. Several companies announced dividends for 2014, with Gulf International Services announcing a large year-over-year increase.
The QSE Index lost 0.1% over the week. Trading value decreased 13.8% to QR1.32bn, while volume fell 25.1% to 26.36mn shares. Ezdan Holding Group saw the largest decline of 3.78%, while Ahli Bank had the largest gain of 6.52%. Foreign institutions remained net buyers during the week, while Qatari institutions turned to net buying. The market outlook cites Qatar's economy continuing to expand due to growth in non-oil sectors such as construction and financial services.
The QSE Index increased slightly by 0.22% over the week. Trading value decreased slightly while volume declined more at 5.94%. Foreign and Qatari institutions remained net buyers while retail investors remained net sellers. QEWS, DHBK and ORDS were the top index contributors while QNBK was the top detractor. In company news, QEWS' profits rose 31.4% QoQ in line with estimates. ERES missed estimates due to lower investment income and pressure in hotels/malls. BRES' profits declined 9.8% QoQ due to non-recurring gains in prior period. ORDS' profits narrowed slightly QoQ with continued data revenue growth. Q
The Qatari stock market gained slightly over the shortened trading week, with the Qatar Stock Exchange index rising 0.13% and market capitalization remaining unchanged. Trading volume and value both declined significantly compared to the previous week. The top gaining stocks were Gulf International Services and Doha Insurance, while the worst performers were Gulf Warehousing and Qatar Cinema. Looking ahead, analysts expect the Qatari market's support level to remain at 11,000 points and resistance at 12,000 points.
The Qatar Stock Exchange Index gained 0.75% over the week to close at 11,858.01 points. Trading value increased by 14.67% to reach QR1.01 billion compared to the prior week. The Banks and Financial Services sector accounted for the largest portion of trading value and volume. Several companies reported quarterly earnings results, with MERS posting higher quarterly profit but QOIS and QISI seeing large declines in net income. Major projects were also announced, including a QR1.8 billion financing agreement for logistics infrastructure and a QR2.2 billion deal to support a water reservoir project.
- The Qatar Stock Exchange Index lost 1.42% over the week to close at 11,439.30 points as 32 stocks fell, 8 rose, and 3 remained unchanged. Trading value remained flat at QR1.17bn while volume increased 1.9% to 29.1mn shares.
- Foreign institutions remained net buyers during the week at QR25.4mn while Qatari institutions were net sellers at QR79.8mn. Qatar's population increased 2.8% month-over-month to 2.412 million residents as of October 31, 2015.
- The Qatar Central Bank auctioned QR2bn in treasury bills, with yields rising from the previous auction. Emir Tamim bin
QNBFS Weekly Market Report February 9, 2017QNB Group
The Qatar Stock Exchange Index gained slightly over the week. Trading volume and value increased compared to the previous week. Real estate stocks like Barwa Real Estate contributed most to index gains, while Industries Qatar subtracted from the index. The banks and financial, real estate, and telecom sectors led trading by value and volume. Foreign and Qatari institutions were net buyers, while foreign retail investors were also net buyers and Qatari retail investors were net sellers. Several companies reported financial results, with United Development Co. beating estimates but recommending a lower dividend, while Industries Qatar and Gulf International Services reported declines from estimates.
The QE Index gained slightly during the week but market capitalization decreased slightly. Trading value, volume, and number of transactions all declined compared to the previous week. Two stocks will be added to the QE Index while two will be removed. The US Federal Reserve further reduced its bond purchasing program. Projected spending on infrastructure and facilities for the 2022 World Cup is estimated at $50 billion for 2014.
- The QSE Index lost 0.13% over the week to close at 11,770.25, with market capitalization decreasing slightly. Trading value and volume also decreased from the prior week.
- The Banks and Financial Services sector contributed the most to trading value and volume, while Masraf Al Rayan, Barwa Real Estate, and Vodafone Qatar were the biggest detractors from the weekly index loss.
- Foreign institutions turned bullish with net buying during the week, while Qatari and foreign retail investors turned bearish with net selling.
The Qatar Stock Exchange Index lost 541 points, or 4.35%, during the week. Trading value increased 57% while volume rose 54%. The real estate sector contributed most to trading value and volume. Ezdan Holding Group saw the biggest losses and was the top traded stock by value and volume. Foreign institutions remained net buyers while Qatari institutions were net sellers.
- The QSE Index declined 2.46% over the week due to falls in Industries Qatar, Masraf Al Rayan and Ezdan Holding Group. Trading value and volume also decreased over the week.
- Foreign institutions were net sellers over the week while Qatari institutions were net buyers. Qatar's GDP is projected to grow over 7% annually through 2017 due to investments in non-hydrocarbon sectors.
- Company news included MERS reporting a higher profit and dividend for 2014 and Mesaieed Petrochemical guiding to lower sales volumes and earnings in 2015.
The Qatar Stock Exchange Index gained over 4% last week, with market capitalization increasing over 4%. Trading volume and value decreased from the prior week. The Banks and Financial Services sector contributed most to trading value and volume. Foreign institutions remained net buyers while Qatari investors remained net sellers. The document discusses stock performance and provides an outlook for the Qatari economy and non-oil sector growth amid lower oil prices.
- The Qatar Exchange index declined slightly over the week while market capitalization increased slightly. Trading volume decreased slightly while value traded and number of transactions increased slightly.
- Ezdan Holding was the best performing stock for the week, rising 4.2%, while Qatar Cinema & Film Distribution fell the most at 5.2%.
- Foreign institutions remained net sellers over the week while Qatari institutions were net buyers. Foreign and Qatari retail investors remained net buyers.
The Qatar Stock Exchange Index lost 0.44% over the week. Trading value and volume increased significantly by 96.69% and 115.62% respectively. The Banks and Financial Services sector contributed most to trading value, while the Real Estate sector led trading volume. Foreign institutions remained bearish, while Qatari institutions turned bullish. Construction of Qatar's Al Khor Al Bayt 2022 FIFA World Cup stadium is set to begin in September 2015.
The document provides a weekly market review and outlook of the Qatar Stock Exchange (QSE) Index for the week ending October 1, 2015. It summarizes that the QSE Index gained 0.17% over the week to close at 11,453.13 points. Trading value and volume increased compared to the previous week. Foreign institutions turned to net buying while Qatari institutions net sold. The document also provides sector performance, top traded stocks, foreign holdings, and other market indicators for Qatar and neighboring markets.
The QSE Index lost 0.58% over the week to close at 12,443.49 points. Trading value increased 16.27% to QR3.16 billion due to increased activity in the Real Estate sector. ERES was the top traded stock by value and volume. Foreign institutions remained net buyers while Qatari investors were net sellers.
- The Qatar Exchange Index lost 77.42 points during the week to close at 10,391.17 points. Trading value increased 108.95% to QR1.97bn while volume rose 131.17% to 58mn shares.
- The major news was the initial public offering of Mesaieed Petrochemical Holding Company, a QP subsidiary, offering a 26% stake that could raise QR3.2bn.
- Qatari Investors Group was the best performing stock, gaining 19.56%, while Aamal declined the most at 6.03%.
QNBFS Weekly Market Report December 02, 2021QNB Group
The QSE Index declined 1.59% over the week to close at 11,603.03 points. Trading volume and value surged significantly. Industries Qatar, Qatar Islamic Bank, and QNB Group were the top contributors to the weekly index loss. Foreign investors remained bearish while Qatari institutions were net buyers. The Cabinet approved allowing 100% foreign ownership of four major banks and establishing a new real estate authority. Masraf Al Rayan completed its legal merger with Al Khaliji Commercial Bank.
The Qatar Exchange Index declined 3.37% over the week, with market capitalization decreasing by 2.51%. Trading value and volume both decreased compared to the previous week. Masraf Al Rayan and Qatar Islamic Bank were the biggest contributors to the weekly index decline. Foreign institutions continued net buying during the week, while Qatari and foreign retail investors were mixed. Nakilat took over operations of the first LNG vessel as it moves toward becoming the owner and operator of the fleet.
The QE Index gained 1.55% over the week to close at 13,076.33 points, with market capitalization increasing 0.77% to QR695.6 billion. Trading volume increased 656.1% to 85.1 million shares, while value traded rose 611.9% to QR3.4 billion. Mazaya Qatar was the top performing stock with a 19.78% gain, while Industries Qatar fell 2.19%. Qatar Islamic Bank, Qatari Investors Group and Nakilat were the biggest index contributors. Foreign institutions remained net buyers during the week at QR143.1 million.
The Qatar Exchange Index gained 5.27% over the week to close at 13,694.19 points. Trading activity increased significantly during the week as both Qatar and UAE will be added to the MSCI Emerging Markets Index in June 2014. Masraf Al Rayan was the best performing stock for the week, gaining 25.91%, while Ezdan Holding Group declined the most by 10.50%. Foreign institutions were aggressively buying during the week with net purchases of QR2.2 billion, while Qatari and foreign retail investors were net sellers.
QNBFS Weekly Market Report January 5, 2016QNB Group
The Qatar Stock Exchange Index gained 2.69% over the week to close at 10,717.34 points. Trading value increased 16.4% to QR1.1 billion, while trading volume decreased 4.5% to 39.2 million shares. Ezdan Holding, Masraf Al Rayan and Qatar Insurance Co. were the top contributors to the weekly index gain, while Commercial Bank of Qatar deducted points. Foreign institutions remained net buyers during the week at QR175.7 million.
- The QSE Index lost 1.76% over the week to close at 11,879.56 points as market capitalization decreased by 2%. Trading value and volume also declined significantly week-over-week.
- QNBK, IQCD, and QEWS were the largest drags on the index, while BRES and ERES contributed positively. Foreign investors remained bearish last week while Qatari investors were bullish.
- The Qatari economy is expected to remain robust driven by government spending on infrastructure projects despite lower oil prices. GDP growth is forecast to be around 6.5% over the next two years.
QNBFS Daily Market Report December 24, 2023QNB Group
The QE Index rose 0.8% to close at 10,285.3. Gains were led by the Transportation and Banks & Financial Services indices, gaining 1.4% and 1.2%, respectively.
QNBFS Daily Technical Trader Qatar - October 10, 2023 التحليل الفني اليومي لب...QNB Group
The document provides a daily technical analysis of the QE Index and QATAR INSURANCE CO stock. For the QE Index, it notes the index remains in a downtrend but is approaching a support level of 9,700, where long positions could be taken. It provides expected resistance and support levels. For QATAR INSURANCE CO stock, it notes the stock has not fallen as much as others and the uptrend remains intact above moving averages, though liquidity is low. It provides expected price targets and resistance/support levels for the stock. Definitions of technical analysis terms like candlesticks, support, and simple moving average are also included.
QNBFS Daily Market Report October 04, 2023QNB Group
The QE Index rose 0.2% to close at 10,273.3. Gains were led by the Transportation and Consumer Goods & Services indices, gaining 1.7% and 0.1%, respectively.
QNBFS Daily Technical Trader Qatar - October 04, 2023 التحليل الفني اليومي لب...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 28, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 24, 2023QNB Group
- The QE Index in Qatar rose 0.3% led by gains in the Transportation and Industrials indices. Qatar Navigation and Al Khaleej Takaful Insurance were the top gainers.
- Regional markets were mixed with Saudi Arabia down 1% but Abu Dhabi up marginally. Economic data from the US and Europe was mixed.
- In Qatar news, QR500mn in bills were sold at a yield of 5.755% and Gulf International Services approved final merger agreements. Ooredoo also signed an MoU to support businesses in Qatar free zones.
QNBFS Daily Technical Trader Qatar - September 24, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Technical Trader Qatar - September 19, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to sustain its breakout above the double-bottom formation’s neckline and continued with its decline into the formation’s territory.
QNBFS Daily Market Report September 17, 2023QNB Group
The QE Index declined 0.5% to close at 10,319.3. Losses were led by the Industrials and Consumer Goods & Services indices, falling 1.4% and 1.1%, respectively.
QNBFS Daily Technical Trader Qatar - September 07, 2023 التحليل الفني اليومي ...QNB Group
The General Index failed to
sustain its breakout above the
double-bottom formation’s
neckline and continued with
its decline into the
formation’s territory.
Introduction to Metro in India by cosmo soil.pptxcosmo-soil
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“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
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ITES KPO BPO IT sector in the country has increased at an incredible rate o...yashwanthkumar517728
ites KPO and BPO,IT sector in the country has increased at an incredible rate of 35% per year for the last 10 years reinforces the view that India is world class in IT
The IT sector is one of the largest employers of women, and therefore, can play a crucial role in women empowerment and the reduction of gender inequalities.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Navigating Your Financial Future: Comprehensive Planning with Mike Baumannmikebaumannfinancial
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Navigating Your Financial Future: Comprehensive Planning with Mike Baumann
Weekly market report
1. `
Page 1 of 6
Market Review and Outlook QSE Index and Volume
The Qatar Stock Exchange (QSE) Index gained 51.69 points, or
0.46% during the week, to close at 11,347.15. Market
capitalization increased by 0.49% to reach QR598.9 billion (bn)
as compared to QR596.0bn at the end of the previous week. Of
the 43 listed companies, 10 companies ended the week higher,
while 32 fell and 1 remained unchanged. Islamic Holding Group
(IHGS) was the best performing stock for the week, with a gain of
4.57% on 485,525 shares traded. On the other hand, Qatar
Cinema & Film Distribution Co. (QCFS) was the worst performing
stock with a decline of 6.43% on only 100 shares traded.
QNB Group (QNBK), Ezdan Holding Group (ERES) and Qatar
Electricity and Water Co. (QEWS) were the primary contributors
to the weekly index gain. QNBK was the biggest contributor to the
Index’s weekly gain, adding 69.91 points to the Index. ERES
tacked on 45.77 points to the Index while QEWS contributed
17.69 points. On the other hand, Barwa Real Estate Company
(BRES) and Nakilat (QGTS) contributed negatively to the Index.
BRES and QGTS erased 13.73 and 12.72 points from the Index,
respectively.
Trading value during the week increased by 1.51% to reach
QR2.34bn vs. QR2.30bn in the prior week. The Banks and
Financial Services sector led the trading value during the week,
accounting for 42.23% of the total trading value. The Real Estate
sector was the second biggest contributor to the overall trading
value, accounting for 26.57% of the total trading value.
Commercial Bank of Qatar (CBQK) was the top value traded stock
during the week with total traded value of QR495.6mn.
Trading volume increased by 6.88% to reach 57.9mn shares vs.
54.1mn shares in the prior week. The number of transactions
decreased by 20.73% to reach 28,419 transactions versus 35,852
transactions in the prior week. The Real Estate sector led the
trading volume, accounting for 46.11%, followed by the Banks
and Financial Services sector, which accounted for 27.27% of the
overall trading volume. ERES was the top volume traded stock
during the week with total traded volume of 16.3mn shares.
Foreign institutions turned bullish during the week with net
buying of QR384.9mn vs. net selling of QR21.0mn in the prior
week. Qatari institutions turned bearish with net selling of
QR211.7mn vs net buying of QR26.7mn the week before. Foreign
retail investors remained bearish for the week with net selling of
QR20.4mn vs. net selling of QR15.9mn in the prior week. Qatari
retail investors turned bearish with net selling of QR152.5mn vs.
net buying of QR9.9mn the week before. In 2015 YTD, foreign
institutions bought (on a net basis) ~$591mn worth of Qatari
equities.
Market Indicators
Week ended Sept.
03, 2015
Week ended
August 27, 2015
Chg. %
Value Traded (QR mn) 2,339.6 2,304.8 1.5
Exch. Market Cap. (QR mn) 598,911.7 596,014.1 0.5
Volume (mn) 57.9 54.1 6.9
Number of Transactions 28,419 35,852 (20.7)
Companies Traded 43 43 0.0
Market Breadth 10:32 10:31 –
Market Indices Close WTD% MTD% YTD%
Total Return 17,637.52 0.5 (1.9) (3.7)
All Share Index 3,018.50 0.2 (1.8) (4.2)
Banks/Financial Svcs. 3,076.09 1.2 (0.2) (4.0)
Industrials 3,453.16 (0.6) (3.2) (14.5)
Transportation 2,345.90 (2.4) (1.4) 1.2
Real Estate 2,628.84 0.8 (3.0) 17.1
Insurance 4,595.50 (1.0) (2.6) 16.1
Telecoms 940.66 (1.4) (2.4) (36.7)
Consumer 6,697.75 (1.0) (2.3) (3.0)
Al Rayan Islamic Index 4,309.71 (0.9) (2.5) 5.1
Market Indices
Weekly Index Performance
Regional Indices Close WTD% MTD% YTD%
Weekly Exchange
Traded Value ($ mn)
Exchange Mkt.
Cap. ($ mn)
TTM P/E** P/B** Dividend Yield
Qatar (QSE)* 11,347.15 0.5 (1.9) (7.6) 642.47 164,521.1 11.6 1.7 4.5
Dubai 3,570.37 (2.1) (2.5) (5.4) 765.76 92,382.1# 11.5 1.1 7.3
Abu Dhabi 4,378.14 (1.9) (2.6) (3.3) 279.33 118,395.0 11.7 1.3 5.2
Saudi Arabia# 7,367.55 (3.1) (2.1) (11.6) 8,031.29 441,432.8 15.5 1.7 3.6
Kuwait 5,758.02 (2.0) (1.1) (11.9) 214.00 88,822.0 14.7 1.0 4.5
Oman 5,749.38 (1.2) (2.1) (9.4) 48.16 23,403.0 10.5 1.3 4.5
Bahrain 1,299.44 (0.2) 0.0 (8.9) 7.63 20,324.8 8.2 0.8 5.3
Source: Bloomberg, country exchanges and Zawya (** Trailing Twelve Months; * Value traded ($ mn) do not include special trades, if any; # Data as of September 02, 2015)
11,339.50
11,563.56
11,415.09
11,385.90
11,347.15
0
15,000,000
30,000,000
11,200
11,400
11,600
30-Aug 31-Aug 1-Sep 2-Sep 3-Sep
Volume QSEIndex
0.5%
(0.2%)
(1.2%)
(1.9%) (2.0%) (2.1%)
(3.1%)(4.0%)
(2.0%)
0.0%
2.0%
Qatar(QSE)*
Bahrain
Oman
AbuDhabi
Kuwait
Dubai
SaudiArabia
2. Page 2 of 6
News
Economic News
BMI: Qatar construction to grow by an average of 10.4% till 2022;
little impact due to oil fall – BMI Research has said that Qatar’s
infrastructure spending will be “insulated” despite lower oil
prices, as it forecasts the “strongest” construction industry
growth in the GCC for the country with average annual real
growth of 10.4% up to 2022. The 2022 FIFA World Cup is a
“catalyst” for growth, but Qatar’s need to diversify its economy
will mean most of the major infrastructure projects would be
needed, even with the event. The industry is navigating capacity
constraints seemingly well, although BMI believes wage and
material price pressures will be a drag. Qatar is the fastest
growing construction & infrastructure market in the GCC and
remains one of BMI’s “favorite” construction markets, buoyed by
huge government investment, a stable business environment and
growing consumer demand. BMI’s country risk team believes
Qatari economic activity will continue to expand at a strong pace
throughout 2015, driven primarily by growth in the non-oil
sector. Therefore, the dramatic fall in oil prices witnessed over
recent quarters would have little impact on growth. Robust
private consumption, on the back of a fast-growing population,
large government spending commitments, and continued
progress on infrastructure projects will lead the residential and
non-residential sector, in particular, to outperform over the long
term. BMI said oil prices are a minimal downside risk to its
forecast, as Qatar is the least exposed out of the six GCC
economies to the drop in oil prices. The agency does not expect
government spending or consumer confidence to be impacted
over coming quarters. (Gulf-Times.com)
Market & Corporate News
Qatar issued QR15bn of bonds on September 1 – Qatar issued
QR15bn of bonds on September 1, 2015 as the country takes
advantage of low borrowing costs to deepen the market. The
Qatar Central Bank Governor HE Sheikh Abdulla Bin Saoud Al-
Thani said that the sale was intended to boost the local capital
markets and was part of the coordination between fiscal and
monetary policies. The issuance was four times oversubscribed.
Meanwhile, the QCB Governor has stressed the need for GCC
countries to take adequate measures to deal with any possible
aftershocks of the current volatile global economic conditions.
(Bloomberg, Peninsula Qatar)
QCB auctions T-bills worth QR4bn on September 1 – The Qatar
Central Bank (QCB) has auctioned treasury bills worth QR4bn on
September 1, 2015 for which it received bids totaling QR7.05bn.
T-bills worth QR2bn with a three-month maturity period were
auctioned at a yield of 0.85%. T-bills worth QR1bn with a six-
month maturity period were sold at a yield of 0.87%, while T-bills
worth QR1bn with a nine-month maturity period were auctioned
at a yield of 0.96%. (QCB)
QGTS clarifies purpose of amending Article 6 and postpones its
EGM to Sep. 7, 2015 due lack of Legal Quorum; doubling of FOL to
49% from 25% is the key item on the agenda – Qatar Gas
Transport Company (QGTS or Nakilat) will now hold its
extraordinary general meeting (EGM) on September 7, 2015 at
the same venue, Sharq Village Resort and Spa, at 6:30 p.m., at Al
Sonbok Ballroom. As we have stated before, a key item on the
agenda is a proposed increased of its FOL to 49% from 25%
currently. QGTS has also clarified the purpose of the proposed
amendment to Article (6) of the Article of Association. QGTS said
that the amendment is aimed at correcting information pertaining
to the number of issued share capital, of which 5,973,640 shares
were wrongly underwritten at the time of the initial public
offering (IPO). The proposed amendment is consistent with the
presented share capital in the company’s financial statements,
with no change in the previously reported share capital. We note
as we have stated before that the company currently has and will
continue to maintain an authorized share capital of 560mn shares
and an issued share capital of 554mn shares. We maintain our
Accumulate rating on QGTS with a price target of QR24.70.
(QNBFS Research, QSE)
IHGS secures MoEC nod for 50% capital increase – Islamic Holding
Group (IHGS) said that the Corporate Supervision Department of
the Ministry of Economy & Commerce (MoEC) has approved IHGS
board’s proposal to increase the company’s capital by 50%, which
is equivalent to 2mn shares at a nominal value of QR10 per share
and an issuing premium of QR40 per share (therefore amounting
to a total of QR50 per share). The company also said that it was in
the process of getting the MoEC to approve a date to convene an
extraordinary general assembly meeting in order to adopt and
ratify this transaction. (QSE)
Qatar to finish work on first World Cup venue by 2016 – According
to the Project Manager, Mansoor Saleh Al-Muhannadi, Qatar will
complete work on the first venue for the 2022 FIFA World Cup by
2016. It is also the venue for the 2019 World Athletics
Championships, the first time that the games will be held in the
Middle East. The 40,000-seater Khalifa International Stadium is
scheduled to host group stage, round of 16 and quarter-final
matches during the 2022 FIFA World Cup. The Khalifa Stadium,
located in the west of Doha, was originally built in 1976 as a
20,000-seater Stadium but is undergoing major renovation for
2022. (Gulf-Times.com)
QPMC increases gabbro berth terminal capacity to 58mn tpy –
Qatar Primary Materials Company (QPMC) has increased its
gabbro berth terminal capacity across the country to 58mn tons
per year (tpy) even as QPMC began selling quality primary
materials to the public and private sectors. QPMC said it had
commenced gabbro sale to contractors from its stockpiles and
storage areas in Mesaieed and Lusail. The company added it will
supply gabbro and limestone, to both the private and government
sectors to ensure the stability of prices of primary infrastructure
materials in the local market and provide the required quantities
to all concerned as part of its mission to help the country’s
infrastructure development. (Gulf-Times.com)
QCB extends deadline for insurance regulations – The Qatar
Central bank (QCB) has extended the deadline set for insurance,
reinsurance and Takaful companies to implement its new
regulations. As per the original schedule, the institutions were
supposed to comply with the new regulations from the end of
May. Al Sharq reported that after realizing that the insurance
companies needed more time to reposition themselves to
implement the new regulations, the central bank had extended
the deadline to November 30. The new operational instructions to
the insurance sector is intended to further tightening the control
over the agencies engaged in the business and their
representative offices. The proposed regulations restrict the
companies and insurance practitioners from getting involved in
cross-border activities. QCB’s new regulations demand better
transparency, good governance and effective risk management
from the companies. The regulatory body will suspend or cancel
the operational license of a company if it fails to adhere to the
regulations, without prior notice. The review mechanism will
have the legitimacy of Shari’ah Supervisory Board. (Peninsula
Qatar)
3. Page 3 of 6
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)
4.6%
4.4%
4.0%
3.2%
1.6%
0.0%
2.0%
4.0%
6.0%
Islamic
Holding Group
QNB Group Qatar
Electricity and
Water
Ezdan Real
Estate
Commercial
Bank of Qatar
-6.4%
-6.1%
-5.8% -5.6%
-4.4%
-9.0%
-6.0%
-3.0%
0.0%
Qatar Cinema &
Film Distribution
Qatar Industrial
Manufacturing
Qatari Investors
Group
Al Ahli Bank MannaiCorp.
495.6
304.1
215.8
201.0
162.6
0.0
170.0
340.0
510.0
Commercial
Bank of Qatar
Ezdan Real
Estate
Barwa Real
Estate
QNB Group Gulf
International
Services
16.3
8.8
5.0
3.8
3.2
0.0
6.0
12.0
18.0
Ezdan Real
Estate
Commercial
Bank of Qatar
Barwa Real
Estate
Vodafone
Qatar
Mazaya Qatar
0%
20%
40%
60%
80%
100%
Buy Sell
27.64% 34.16%
7.12%
16.17%12.13%
13.00%
53.11%
36.66%
Qatari Individuals Qatari Institutions
Non-Qatari Individuals Non-Qatari Institutions
813
1,526
1,178
1,162
(364)
365
(500) - 500 1,000 1,500 2,000
Qatari
Non-Qatari
Net Investment Total Sold Total Bought
4. Page 4 of 6
TECHNICAL ANALYSIS OF THE QSE INDEX
Source: Bloomberg
The QSE Index lost 0.44% vs. the previous week. The RSI is moving close to the oversold zone, while the MACD is also in a bearish territory.
However, the creation of the hammer candlestick created on the weekly chart with high volumes is a good sign, suggesting a possibility of a
rebound from the current level. On the other hand traders may need to keep a close watch on the 10,900 level, as any break below that level
portends further weakness. We update our weekly support and resistance levels between 10,900 and 11,800 points, 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.
5. Page 5 of 6
Source: Bloomberg
Company Name
Price
(Sept 03)
% Change 5-
Day
% Change
YTD
Market Cap.
QR Million TTM P/E P/B Div. Yield
Qatar National Bank 184.50 4.36 (13.34) 129,100 11.8 2.3 4.1
Qatar Islamic Bank 111.10 0.27 8.71 26,252 15.0 1.8 3.8
Commercial Bank of Qatar 56.00 1.63 (10.07) 18,291 9.7 1.1 5.7
Doha Bank 51.10 (1.73) (10.35) 13,203 9.6 1.0 7.8
Al Ahli Bank 47.10 (5.61) (5.11) 8,559 13.4 2.0 2.9
Qatar International Islamic Bank 74.40 (1.46) (8.94) 11,262 13.1 2.2 5.4
Masraf Al Rayan 42.55 (0.82) (3.73) 31,913 15.2 3.2 4.1
Al Khaliji Bank 21.00 (0.52) (4.76) 7,560 12.4 1.3 4.8
National Leasing 17.00 (3.24) (15.00) 841 N/A 0.7 5.0
Dlala Holding 19.37 (3.87) (42.07) 550 N/A 1.9 N/A
Qatar & Oman Investment 13.50 (3.23) (12.34) 425 6.6 1.2 5.9
Islamic Holding Group 114.50 4.57 (8.03) 458 31.5 7.4 2.6
Banking and Financial Services 248,414
Zad Holding 91.50 (1.08) 8.93 1,197 10.3 1.5 4.4
Qatar German Co. for Medical Devices 13.55 (4.31) 33.50 157 N/A 1.0 N/A
Salam International Investment 12.40 (2.67) (21.77) 1,418 18.2 0.9 4.8
Medicare Group 165.00 0.30 41.03 4,644 23.6 5.3 1.1
Qatar Cinema & Film Distribution 39.30 (6.43) (1.75) 247 19.0 1.8 2.3
Qatar Fuel 153.20 (1.48) (25.01) 12,939 11.3 2.0 5.9
Qatar Meat and Livestock 52.50 (3.67) (13.08) 945 15.4 4.0 4.8
Al Meera Consumer Goods 255.50 0.59 27.75 5,110 23.8 3.9 3.5
Consumer Goods and Services 26,656
Qatar Industrial Manufacturing 41.80 (6.07) (3.58) 1,986 12.0 1.4 7.2
Qatar National Cement 103.00 0.10 (14.17) 5,563 13.1 2.1 3.5
Industries Qatar 128.10 0.23 (23.75) 77,501 13.1 2.4 5.5
Qatari Investors Group 45.70 (5.77) 10.39 5,682 24.3 2.5 1.6
Qatar Electricity and Water 210.00 3.96 12.00 23,100 14.5 3.5 3.6
Mannai Corp. 95.70 (4.40) (12.20) 4,366 8.9 2.0 6.3
Aamal 13.56 0.00 (6.27) 8,543 13.5 1.2 7.0
Gulf International Services 58.30 (2.83) (39.96) 10,835 7.0 2.9 9.4
Mesaieed Petrochemical Holding 21.09 (2.81) -28.5 26,496 20.5 2.0 5.2
Industrials 164,070
Qatar Insurance 95.20 (0.63) 20.84 17,576 18.6 3.1 2.3
Doha Insurance 24.80 (1.20) (14.48) 1,240 14.0 1.1 4.0
Qatar General Insurance & Reinsurance 55.00 (1.61) 7.20 4,375 4.6 0.8 3.2
Al Khaleej Takaful Insurance 33.50 (1.76) (24.16) 855 15.8 1.3 3.9
Qatar Islamic Insurance 74.90 (3.97) (5.19) 1,124 15.0 3.6 5.4
Insurance 25,170
United Development 22.83 (3.63) (3.22) 8,084 11.8 0.7 5.5
Barw a Real Estate 42.45 (2.41) 1.31 16,518 2.7 0.9 5.2
Ezdan Real Estate 18.45 3.19 23.66 48,939 33.5 1.7 2.2
Mazaya Qatar Real Estate Development 15.57 (4.13) (14.63) 1,635 9.5 1.2 1.8
Real Estate 75,176
Qatar Telecom 67.90 (1.45) (45.20) 21,750 15.2 1.0 5.9
Vodafone Qatar 13.77 (1.29) (16.29) 11,641 N/A 2.2 1.5
Telecoms 33,391
Qatar Navigation (Milaha) 96.50 (1.23) (3.02) 11,052 9.3 0.8 5.7
Gulf Warehousing 64.00 (3.76) 13.48 3,044 19.0 3.4 2.3
Qatar Gas Transport (Nakilat) 21.32 (3.13) (7.71) 11,939 12.5 3.0 5.6
Transportation 26,035
Qatar Exchange 598,912
6. Contacts
Saugata Sarkar Sahbi Kasraoui QNB Financial Services SPC
Head of Research Head of HNI Contact Center: (+974) 4476 6666
Tel: (+974) 4476 6534 Tel: (+974) 4476 6544 PO Box 24025
saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa Doha, Qatar
Disclaimer and Copyright Notice: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of QNB SAQ (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Exchange QNB SAQ is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an offer,
promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. QNBFS accepts no liability whatsoever for any
direct or indirect losses arising from use of this report. Any investment decision should depend on the individual circumstances of the investor and be based on specifically engaged investment advice.
We therefore strongly advise potential investors to seek independent professional advice before making any investment decision. Although the information in this report has been obtained from
sources that QNBFS believes to be reliable, we have not independently verified such information and it may not be accurate or complete. QNBFS does not make any representations or warranties as to
the accuracy and completeness of the information it may contain, and declines any liability in that respect. For reports dealing with Technical Analysis, expressed opinions and/or recommendations
may be different or contrary to the opinions/recommendations of QNBFS Fundamental Research as a result of depending solely on the historical technical data (price and volume). QNBFS reserves the
right to amend the views and opinions expressed in this publication at any time. It may also express viewpoints or make investment decisions that differ significantly from, or even contradict, the views
and opinions included in this report. This report may not be reproduced in whole or in part without permission from QNBFS
COPYRIGHT: No part of this document may be reproduced without the explicit written permission of QNBFS.
Page 6 of 6