QSE Snaps Four-Day Bear Run as Index Gains 36 Points; Domestic Funds Turn Net Buyers

The domestic institutions' buying interests Thursday helped the Qatar Stock Exchange to snap four consecutive days of bearish run as its key index gained as much as 36 points and capitalisation added in excess of QR1bn.

The transport, insurance and telecom sectors saw higher than average demand as the 20-stock Qatar Index rose 0.32% to 11,342.57 points, recovering from an intraday low of 11,267 points.

The foreign institutions’ weakened net profit booking had its influence on the main market, whose year-to-date gains improved to 7.3%.

The Arab individuals continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR1.48bn or 0.22% to QR675.72bn mainly on microcap segments.

The Gulf funds also continued to be bullish but with lesser vigour in the main market, which saw as many as 1,445 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.02mn trade across six deals.

The foreign retail investors continued to be net buyers but with lesser intensity in the main bourse, whose trade turnover and volumes were on the decrease.

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

However, the local retail investors were seen net sellers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 0.36%, the All Share Index by 0.28% and the All Islamic Index by 0.13% in the main market.

The transport sector index rose 0.87%, insurance (0.81%), telecom (0.8%), banks and financial services (0.2%), industrials (0.19%) and consumer goods and services (0.1%); while real estate fell 0.25%.

Major gainers in the main market included Qatar Islamic Bank, Medicare Group, Qatar Insurance, Nakilat, Ezdan, Commercial Bank, Doha Bank, Meeza, Qamco and Ooredoo.

Nevertheless, Widam Food, Mannai Corporation, Inma Holding, Mesaieed Petrochemical Holding, Barwa and Industries Qatar were among the shakers in the main bourse.

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

The domestic institutions turned net buyers to the tune of QR5.94mn compared with net sellers of QR22.24mn the previous day.

The foreign institutions’ net profit booking decreased substantially to QR9.1mn against QR38.87mn on August 20.

However, the local individuals were sellers to the extent of QR2.18mn compared with net buyers of QR33.03mn on Wednesday.

The Arab institutions turned net profit takers to the tune of QR0.16mn against no major net exposure the previous day.

The Arab retail investors’ net buying declined perceptibly to QR2.32mn compared to QR12.63mn on August 20.

The Gulf institutions’ net buying weakened noticeably to QR1.45mn against QR7.95mn on Wednesday.

The foreign individuals’ net buying shrank markedly to QR1.34mn compared to QR4.12mn the previous day.

The Gulf individual investors’ net buying decreased notably to QR0.4mn against QR3.36mn on August 20.

The main market saw a 7% contraction in trade volumes to 126.15mn shares, 6% in value to QR346.36mn and 6% in deals to 22,324.

In the venture market, a total of 0.36mn equities valued at QR1.01mn changed hands across 124 transactions.