World Oil Price Strength Helps QSE Index Gain 14 Points

Strengthened oil prices had its reflection on the Qatar Stock Exchange, which Thursday gained more than 14 points as local retail investors turned bullish.

The transport, industrials and consumer goods counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.12% to 11,643.31 points, although it touched an intraday high of 11,742 points.

The Gulf institutions were increasingly net buyers in the main market, whose year-to-date gains improved further to 10.19%.

More than 46% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR0.76bn or 0.11% to QR692.84bn mainly on microcap segments.

The foreign funds continued to be net buyers but with lesser intensity in the main market, which saw as many as 0.02mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.12mn trade across 22 deals.

The domestic institutions were seen net profit takers in the main bourse, whose trade turnover and volumes were on the decline.

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

The foreign retail investors turned bearish in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 0.12%, the All Share Index by 0.11% and the All Islamic Index by 0.01% in the main market.

The transport sector index shot up 1.45%, industrials (0.34%), consumer goods and services (0.31%) and telecom (0.04%); while real estate declined 0.42%, insurance (0.15%) and banks and financial services (0.12%).

Major movers in the main market included Doha Bank, Baladna, Milaha, Estithmar Holding, Salam International Investment, Meeza, Industries Qatar, and Nakilat.

In the junior bourse, Techno Q saw its shares appreciate in value.

Nevertheless, Al Faleh Educational Holding, Mannai Corporation, QIIB, Inma Holding, Qatar Islamic Bank, Qamco and Mazaya Qatar were among the shakers in the main market.

The local individuals turned net buyers to the tune of QR15.26mn compared with net sellers of QR63.9mn on August 13.

The Gulf institutions’ net buying increased perceptibly to QR15.07mn against QR13.59mn the previous day.

The Arab retail investors’ net selling decreased noticeably to QR2.09mn compared to QR3.92mn on Wednesday.

The Arab institutions’ net profit booking weakened marginally to QR0.25mn against QR0.26mn on August 13.

However, the domestic funds were net sellers to the extent of QR31.05mn compared with net buyers of QR0.91mn the previous day.

The foreign individual investors turned net sellers to the tune of QR3.38mn against net buyers of QR1.01mn on Wednesday.

The foreign institutions’ net buying decreased substantially to QR6.2mn compared to QR52.08mn on August 13.

The Gulf retail investors’ net buying eased marginally to QR0.25mn against QR0.48mn the previous day.

The main market saw a 25% contraction in trade volumes to 227.57mn shares and 7% jump in value to QR621.38mn but on 13% jump in deals to 29,636.

In the venture market, a total of 0.09mn equities valued at QR0.26mn changed hands across 24 transactions.