Domestic Funds Lift QSE Sentiments; Transport and Banks See Higher Demand

The domestic funds’ continued buying interests on Tuesday lifted the sentiments in the Qatar Stock Exchange (QSE) for the second straight session and its key index gained as much as 28 points.

The transport and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.26% to 10,638.1 points, recovering from an intraday low of 10,555 points.

The Gulf retail investors were seen bullish in the main bourse, whose capitalisation added QR0.87bn or 0.14% to QR621.94bn on the back of small and microcap segments.

The foreign institutions’ weakened net selling had its influence on the main market, which saw as many as 2,002 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.01mn changed hands across four deals.

The Arab individuals’ lower net profit booking also had its say in the main bourse, whose trade turnover grew amidst lower volumes.

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

However, the Gulf funds were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index was up 0.26%, the All Share Index by 0.23% and the All Islamic Index by 0.15% in the main market.

The transport sector index gained 0.75% and banks and financial services 0.43%; while real estate declined 0.57%, consumer goods and services (0.26%), insurance (0.19%) and telecom (0.17%).

Major gainers in the main bourse included Estithmar Holding, Milaha, Al Faleh Educational Holding, Dukhan Bank and Doha Insurance.

In the venture market, Al Mahhar Holding and Techno Q saw their shares appreciate in value.

Nevertheless, about 51% of the traded constituents in the main market were on the red with major shakers being Qatar National Cement, Beema, Qatar Cinema and Film Distribution, Zad Holding, Ezdan, Alijarah Holding, Gulf International Services, Mazaya Qatar, United Development Company and Vodafone Qatar.

The domestic institutions’ net buying increased perceptibly to QR52.29mn compared to QR45.6mn on February 17.

The Gulf retail investors turned net buyers to the tune of QR1.55mn against net sellers of QR1.47mn the previous day.

The Arab institutions were net buyers to the extent of QR0.3mn against no major net exposure on Monday.

The foreign institutions’ net selling decreased substantially to QR3.81mn compared to QR48.59mn on February 17.

The Arab individual investors’ net profit booking eased marginally to QR0.7mn compared to QR1.09mn the previous day.

However, the Gulf institutions’ net selling strengthened drastically to QR33.67mn against QR6.69mn on Monday.

The Qatari individual investors turned net sellers to the tune of QR18.51mn compared with net buyers of QR8.84mn on February 17.

The foreign retail investors’ net buying declined marginally to QR2.55mn against QR3.41mn the previous day.

Trade volumes in the main market shrank 12% to 163.05mn shares, while value shot up 25% to QR470.8mn and deals by 25% to 16,653.

In the venture market, trade volumes jumped more than six-fold to 1.6mn equities and value more than tripled to QR3.87mn on more than six-fold growth in transactions to 164.