Across the Board Buying Lifts QSE Above 11,100 Levels: M-Cap Adds QR1.63bn

The Qatar Stock Exchange (QSE) on Sunday opened the week on a stronger note with its key index gaining 32 points to cross the 11,100 levels on an across the board buying.

The insurance, telecom, transport and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.29% to 11,131.43 points, although it touched an intraday high of 11,153 points.

The Gulf institutions were increasingly net buyers in the main market, whose year-to-date gains improved to 5.3%.

The local retail investors’ higher net buying had its influence on the main bourse, whose capitalisation added QR1.63bn or 0.25% to QR664.29bn, mainly on microcap segments.

The foreign funds turned net buyers in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.03mn trade across seven deals.

The domestic funds continued to be net buyers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen gaining faster than the other indices of the main market, which saw no trading of treasury bills.

The foreign retail investors continued to bullish but with lesser vigour in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 0.29%, the All Share Index by 0.21% and the All Islamic Index by 0.35% in the main market.

The insurance sector index gained 0.88%, telecom (0.55%), transport (0.43%), consumer goods and services (0.34%), real estate (0.21%), industrials (0.19%) and banks and financial services (0.11%).

About 60% of the traded constituents extended gains to investors in the main market with major movers being Estithmar Holding, Qatar General Insurance and Reinsurance, QLM, Baladna, Doha Bank, Ezdan, Mazaya Qatar, Ooredoo and Milaha.

In the venture market, Techno Q saw its shares appreciate in value.

Nevertheless, Qatar National Cement, Beema, Lesha Bank, Al Khaleej Takaful, Qatar Oman Investment, United Development Company and Vodafone Qatar were among the shakers in the main bourse.

The Gulf institutions’ net buying increased noticeably to QR3.1mn compared to QR1.99mn the previous day.

The local individual investors’ net buying expanded marginally to QR3.89mn against QR3.46mn on September 4.

The foreign institutions turned net buyers to the tune of QR0.56mn compared with net sellers of QR26.72mn last Thursday.

However, the Arab retail investors were net sellers to the extent of QR12mn against net buyers of QR5.24mn the previous day.

The Gulf individuals turned net sellers to the tune of QR2.84mn compared with net buyers of QR2.92mn on September 4.

The domestic institutions’ net buying weakened perceptibly to QR5.15mn against QR9.07mn last Thursday.

The foreign retail investors’ net buying shrank markedly to QR2.13mn compared to QR4.04mn the previous day.

The Arab institutions had no major net exposure for the fifth straight session.

The main market saw a 16% contraction in trade volumes to 118.22mn shares, 36% in value to QR272.64mn and 37% in deals to 12,708.

In the venture market, a total of 0.64mn equities valued at QR1.77mn changed hands across 137 transactions.