Foreign Funds’ Increased Net Buying Lifts QSE; M-Cap Adds QR1bn

The Qatar Stock Exchange (QSE) Tuesday gained eight points as the telecom, real estate and banking counters witnessed higher than average demand.

The foreign funds were seen increasingly net buyers as the 20-stock Qatar Index was up 0.07% to 11,183.57 points, although it touched an intraday high of 11,204 points.

The Arab individuals were seen bullish in the main market, whose year-to-date gains improved to 5.79%.

The local retail investors turned net buyers in the main bourse, whose capitalisation added QR1bn or 0.15 to QR668.34bn, mainly on microcap segments.

The Gulf individuals continued to be net buyers but with lesser intensity in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.05mn trade across 12 deals.

The domestic institutions turned net sellers in the main bourse, whose trade turnover and volumes were on the decline.

The Islamic index was seen declining vis-à-vis gains in the other indices of the main market, which saw no trading of treasury bills.

The Gulf institutions were increasingly into net profit booking in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index was up 0.07% and the All Share Index by 0.09%; while the All Islamic Index fell 0.02% in the main market.

The telecom sector index gained 0.26%, realty (0.24%), banks and financial services (0.2%) and insurance (0.05%); while consumer goods and services declined 0.63%, transport (0.02%) and industrials (0.01%).

Major movers in the main bourse included Qatar Cinema and Film Distribution, Gulf International Services, Qamco, Ezdan, Qatar Insurance, Estithmar Holding and Nakilat.

Nevertheless, Qatar General Insurance and Reinsurance, QLM, Ahlibank Qatar, Woqod, Doha Bank, Meeza and Industries Qatar were among the shakers in the main bourse.

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

The foreign institutions’ net buying increased noticeably to QR10.76mn compared to QR2.07mn the previous day.

The Arab individual investors turned net buyers to the tune of QR3.91mn against net sellers of QR1.76mn on Monday.

The local retail investors were net buyers to the extent of QR2.15mn compared with net sellers of QR3.2mn on September 1.

However, the domestic funds turned net sellers to the tune of QR10.75mn against net buyers of QR1.21mn the previous day.

The Gulf institutions’ net profit booking strengthened markedly to QR6.07mn compared to QR1.26mn on Monday.

The foreign retail investors were net sellers to the extent of QR0.41mn against net buyers of QR5.64mn on September 1.

The Gulf individual investors’ net buying weakened perceptibly to QR0.4mn compared QR1.45mn the previous day.

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

The main market saw a 19% slump in trade volumes to 85.68mn shares and 6% in value to QR260.95mn but on 1% jump in deals to 14,534.

In the venture market, a total of 0.21mn equities valued at QR0.56mn changed hands across 41 transactions.