Foreign Funds Lift QSE Above 11,400 Levels; M-Cap Adds QR2.6bn

The foreign institutions’ increased net buying interests Tuesday lifted the Qatar Stock Exchange (QSE) by as much as 50 points and its key index surpassed the 11,400 levels.

The telecom, transport, banking and insurance counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.44% to 11,421.38 points, recovering from an intraday low of 11,350 points.

The Gulf institutions were seen bullish in the main market, whose year-to-date gains improved to 8.04%.

More than 67% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR2.6bn or 0.38% to QR680.58bn mainly on mid and small cap segments.

The foreign retail investors were net buyers in the main market, which saw as many as 2,295 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across four deals.

The Gulf individuals turned net buyers, albeit at lower levels, in the main bourse, whose trade turnover fell amidst higher volumes.

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

However, the domestic institutions were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 0.49% and the All Share Index by 0.5% and the All Islamic Index by 0.51% in the main market.

The telecom sector index shot up 1.18%, transport (0.75%), banks and financial services (0.69%), insurance (0.47%), real estate (0.44%) and consumer goods and services (0.41%); while industrials declined 0.26%.

Major movers in the main market included Qatar Oman Investment, Salam International Investment, Al Faleh Educational Holding, AlRayan Bank, Milaha, QIIB, Baladna, Meeza, Mazaya Qatar, Barwa and Ooredoo. In the junior bourse, Techno Q saw its shares appreciate in value.

Nevertheless, Qatar Electricity and Water, QLM, Ezdan, Qamco, Zad Holding and Nakilat were among the shakers in the main market.

The foreign institutions’ net buying increased substantially to QR56.14mn compared to QR3.71mn the previous day.

The Gulf institutions turned net buyers to the tune of QR7.48mn against net sellers of QR0.51mn on August 11.

The foreign individuals were net buyers to the extent of QR3.97mn compared with net sellers of QR2.01mn on Monday.

The Gulf retail investors turned net buyers to the tune of QR0.03mn against net profit takers of QR0.42mn the previous day.

However, the domestic institutions’ net selling expanded significantly to QR33.73mn compared to QR3.66mn on August 11.

The local individuals turned net sellers to the tune of QR30.63mn against net buyers of QR3.31mn on Monday.

The Arab retail investors’ net profit booking strengthened perceptibly to QR3.18mn compared to QR0.36mn the previous day.

The Arab institutions’ net selling increased marginally to QR0.09mn against QR0.08mn on August 11.

The main market saw 1% rise in trade volumes to 337.82mn shares but on 2% fall in value to QR580.32mn amidst 4% jump in deals to 21,915.

In the venture market, a total of 0.01mn equities valued at QR0.04mn changed hands across five transactions.