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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