The Group Securities: Weekly Report on QSE Performance, 30 Sep – 4 Oct 2018

General Index Climbs Marginally to Hover above 9900 Points

September 30, 2018

In light of the rise of OPEC oil price to the level of US $83.64 per barrel, and the approaching Q3 financial statements disclosure period, the stock market’s final outcome was the rise of the shares prices of 20 companies; mostly leading entities such as QNB, Industries Qatar, and Woqod; and the drop in the share prices of 21 companies, along with a 16% decrease in the total trading volume. As a result, the general index climbed by 1.21% to 9902 points, and the Al Rayan Islamic Index rose by 0.70%.

In depth, the general index increased by about 118 points, or 1.21% to the level of 9902 points, while Al Rayan Islamic Index rose by 0.70%. Sector indices have increased, namely Transport, Industry and Services. It has been noticed that the share price of Gulf International Services was the top gainer, up by 8.11%; followed by Ahli Bank by 5.26%, Nakilat by 3.96%, and Doha Bank by 3.95%, then Milaha by 3.82%. In contrast, the share price of Qatar Cinema was the biggest loser, down by 8%, followed by Dlala by 5.08%, Salam International by 3.3%, and Qatar First Bank by 3.2%, then Qatari-German Medical Devices by 2.6%.

The total trading volume decreased by 15.99% to the level of QR1030.9 million in a week, so the average daily trading volume dropped to QR206.2 million. QNB led the traded shares with a volume of QR164.1 million, followed by the share of Industries Qatar with QR132.9 million, Qatar Fuel with QR127.1 million, and Mesaieed with QR67.1 million. It was noticed that Qatari portfolios made net sales of QR17.8 million, while Non-Qatari portfolios dominated purchases with a net of QR121.2 million. Qatari individuals made total net sales of QR96.3 million, whereas foreign individual investors made net sales of QR7.1 million. As a result, QSE’s total capitalization increased by QR7 billion to reach QR553.7 billion, and the P/E ratio rose to a multiple of 13.93 from last week’s 13.75.

Corporate News:

1-      As part of its expansion plans to be able to serve every area in Qatar, “Woqod” opened a fuel station in Fereej Kulaib on Wednesday, increasing the number of its permanent and portable gas stations to 64 in total.

2-      Al Khaliji Commercial Bank succeeded in the issuance and pricing of a USD 500 million five-year senior unsecured bond. The transaction saw strong demand from local and international investors, with an approximate USD 1.6 billion order book, an oversubscription by three times the offering amount. The bond was issued carrying a coupon at a flat rate interest of 4.7%.

3-      Vodafone Qatar announced completing the deployment of its world-class mobile coverage infrastructure in the three constructed phases of “Msheireb Downtown Doha”, at an investment that exceeds QR100 million.

Financial & Economic Developments:

1-      Qatar Central Bank issued Treasury Bills on Wednesday for the periods of 3, 6 and 9 months, where the total amount of issuance amounted to QR500 million distributed amongst the different periods.

2-      Qatar Petroleum announced that prices of its onshore and offshore crude oil for the previous month of September have climbed by about 7%, its onshore crude oil official price for settled at US $79.3 per barrel, compared to US $74 in the previous month of August. OPEC oil price also increased to US $83.64 per barrel until Wednesday.

3-      Dow Jones stood at the level of 26252 points until closing on Thursday. US dollar rose to $1.15 against the Euro, and against the yen at ¥113.91 per dollar. Gold fell to US $1201.7 per ounce.