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QE index hits six-year low, sheds 21% YTD
The benchmark QE index ended yesterday’s trading below the 8,300 point level, down by 1.2 percent, or 96 points, hitting a more than six-year low.
The benchmark lost more than 2,000 points, or 21 percent year-to-date (YTD).
Also, the index extended its losing streak for the eighth straight week, driven by the GCC diplomatic rift.
QE lost 21 percent, or QAR 115 billion of its market value. Market capitalization declined yesterday to QAR 452.5 billion compared to QAR 567.6 billion last December.
|
QE Index Performance |
|||
|
Index |
Dec. 2016 |
Sept. 18, 2017 |
Variation |
|
Points |
10,437 |
8,279 |
(21%) |
|
Market value* (QAR bln) |
567.6 |
452.5 |
(21%) |
*Excluding newly-listed Investment Holding Group
A total 18 QE-listed companies are trading below their book value. Seven firms are trading below their nominal value, while other three companies hit a lifetime low, data compiled by Argaam showed.
Stocks trading below their book value included the Commercial Bank of Qatar (CBQ), Doha Bank, Al Khalij Commercial Bank and Qatar First Bank, as well as real estate stocks.
|
Stocks Trading Below Book Value (as of Sept. 18) |
|||
|
Company |
Closing |
BV |
Variation |
|
Qatar Navigation |
54.00 |
118.58 |
(54%) |
|
United Development |
15.05 |
30.32 |
(50%) |
|
General Insurance |
37.15 |
70.69 |
(47%) |
|
SIIS |
7.85 |
13.99 |
(44%) |
|
National Leasing |
12.25 |
19.85 |
(38%) |
|
Zad Holding |
70.00 |
110.98 |
(37%) |
|
Barwa |
30.65 |
46.65 |
(34%) |
|
DOHI |
14.01 |
20.77 |
(33%) |
|
Aamal |
8.59 |
12.31 |
(30%) |
|
Al Khalij Bank |
11.80 |
16.87 |
(30%) |
|
Commercial Bank |
30.00 |
42.33 |
(29%) |
|
Qatar First |
6.42 |
8.70 |
(26%) |
|
Mazaya |
9.60 |
12.67 |
(24%) |
|
Al Khaleej Takaful |
15.63 |
20.17 |
(23%) |
|
Doha Bank |
29.61 |
34.16 |
(13%) |
|
QOIC |
8.01 |
9.19 |
(13%) |
|
GIS |
17.05 |
19.46 |
(12%) |
|
Ezdan Holding |
10.85 |
11.17 |
(3%) |
Seven companies were trading below their nominal value, and the number is expected to increase if the market extends a downtrend over the coming sessions, as there are some stocks trading close to their nominal value, including Al Khalij Commercial Bank, Alijarah Holding, Mesaieed Petrochemicals Holding and Ezdan Holding.
|
Stocks Trading Below Nominal Value (as of Sept. 18) |
||
|
Company |
Closing |
Variation |
|
Qatar First |
6.42 |
(36%) |
|
Medicare |
7.79 |
(22%) |
|
SIIS |
7.85 |
(22%) |
|
QOIC |
8.01 |
(20%) |
|
Vodafone |
8.15 |
(19%) |
|
Aamal |
8.59 |
(14%) |
|
Mazaya |
9.60 |
(4%) |
Seven stocks hit their lowest level since 2009, led by Milaha (Qatar Navigation), Industries Qatar (IQ), Mannai Corporation and Ezdan Holding. Meanwhile, three stocks recorded their lowest level since debut, namely Qatar First Bank and Investment Holding Group.
|
Company |
Closing price as of Sept. 18 |
Lowest level |
Notes |
|
Qatar First |
6.42 |
6.16 |
Lowest level since listing |
|
Aamal |
8.59 |
8.51 |
Lowest level since listing |
|
Investment Holding |
7.27 |
7.00 |
Lowest level since listing |
|
Al Khalij Bank |
11.80 |
11.54 |
Closed to its lowest level since April 2009 |
|
Al Khaleej Takaful |
15.63 |
14.52 |
Lowest level since April 2009 |
|
Qatar Navigation |
54.00 |
54.00 |
Lowest level since July 2009 |
|
Industries Qatar |
87.32 |
85.00 |
Lowest level since mid July 2009 |
|
Mannai |
64.51 |
61.10 |
Lowest level since July 2009 |
|
Ezdan Holding |
10.85 |
10.61 |
Lowest level since August 2009 |
|
SIIS |
7.85 |
7.85 |
Lowest level since Sept. 2009 |
|
National Cement |
62.01 |
60.10 |
Lowest level since November 2010 |
|
Al Ahli Bank |
29.25 |
27.85 |
Closed to lowest level since November 2011 |
|
Gulf International |
17.05 |
16.87 |
Closed to lowest level since Feb 2012 |
|
United Development |
15.05 |
14.99 |
Lowest level since Aug. 2012 |
|
International Islamic Bank |
51.00 |
50.50 |
Lowest level since April 2013 |
|
Mazaya |
9.60 |
9.50 |
Lowest level since end of Aug. 2013 |
|
Islamic Holding |
43.51 |
42.50 |
Lowest level since Sept. 2014 |
|
Qatar Insurance |
59.99 |
58.60 |
Lowest level since end of Jan. 2016 |
|
Ooredoo |
81.35 |
80.00 |
Closed lowest level since end of Jan. 2016 |
|
Qatar Islamic Bank |
88.00 |
86.90 |
Lowest level since Feb. 2016 |
|
National Leasing |
12.25 |
12.21 |
Lowest level since Feb. 2016 |
|
The Investors |
37.00 |
36.60 |
Lowest level since March 2016 |
|
QNB |
122.90 |
121.70 |
Lowest level during last 52 weeks |
|
Qatar Fuel |
99.99 |
99.00 |
Lowest level during last 52 weeks |
|
Electricity & Water |
178.50 |
178.00 |
Lowest level during last 52 weeks |
|
Naqilat |
15.60 |
15.21 |
Lowest level during last 52 weeks |
Eleven companies traded at a price-to-earnings ratio (P/E) below 10x based on their financial results trailing 12 months, led by Mannai Corporation (6.1 times), Doha Insurance (8.2 times) and Doha Bank (8.7 times).
|
Company |
Stock price (QAR) |
P/E ratio during last 12 months |
|
AL Mannai |
64.51 |
6.1 |
|
DOHI |
14.01 |
8.2 |
|
Doha Bank |
29.61 |
8.7 |
|
QNB |
122.90 |
8.9 |
|
ZAD |
70.00 |
8.9 |
|
Industrial Manufacturing |
40.00 |
9.0 |
|
Barwa |
30.65 |
9.1 |
|
Al Ahli Bank |
29.25 |
9.1 |
|
Qatar Islamic Bank |
88.00 |
9.2 |
|
United Development |
15.05 |
9.3 |
|
International Islamic Bank |
51.00 |
9.6 |
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