QSE crosses 10,100 levels as Gulf and foreign institutions up their net buying

The Qatar Stock Exchange on Thursday gained another 73 points and its key index crossed the 10,100 levels, on the back of buying interests, especially in telecom, industrials and transport counters.
The Gulf institutions were increasingly net buyers as the 20-stock Qatar Index rose 0.72% to 10,145.38 points.
The market, which was skewed towards movers, saw the index recover from an intraday low of 9,994 points.
The foreign institutions were also increasingly bullish in the main market, whose year-to-date losses narrowed further to 5.02%.
The foreign retail investors turned net buyers in the main bourse, whose capitalisation added QR4.48bn or 0.71% to QR587.93bn, mainly on account of midcap segments.
Both Arab funds and the Gulf were seen net buyers, albeit at lower levels, in the main market, which saw a total of 0.15mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.78mn changed hands across 36 deals.
However, the domestic funds were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index was up 0.72%, the All Share Index by 0.64% and the Al Rayan Islamic Index (Price) by 0.92% in the main bourse, whose trade turnover and volumes were on the increase.
The telecom sector index zoomed 2.75%, industrials (1.51%), transport (1.02%), consumer goods and services (0.62%), real estate (0.3%) and banks and financial services (0.16%); while insurance declined 1.26%.
More than 71% of the traded constituents in the main market extended gains with major movers being Inma Holding, Qatari German Medical Devices, Qatar Industrial Manufacturing, Qamco, Ooredoo, Lesha Bank, Baladna, Industries Qatar and Ezdan.
In the venture market, Al Faleh Holding saw its shares appreciate in value.
Nevertheless, Doha Bank, Qatar Insurance, Medicare Group, Gulf Industrial Services and Qatar Islamic Bank were among the losers in the main market.
The Gulf institutions’ net buying strengthened substantially to QR29.59mn compared to QR17.39mn on April 26.
The foreign institutions’ net buying increased significantly to QR29.43mn against QR11.83mn the previous day.
The foreign individuals turned net buyers to the tune of QR1.11mn compared with net sellers of QR1mn on Wednesday.
The Arab institutions were net buyers to the extent of QR0.2mn against net profit takers of QR0.2mn on April 26.
The Gulf retail investors turned net buyers to the tune of QR0.18mn compared with net sellers of QR0.66mn the previous day.
However, the domestic institutions’ net selling increased drastically to QR54.71mn against QR30.34mn on Wednesday.
The local retail investors’ net profit booking grew noticeably to QR13.57mn compared to QR5.96mn on April 26.
The Arab individuals’ net buying weakened marginally to QR7.79mn against QR8.93mn the previous day.
The main market saw an 11% jump in trade volumes to 180.48mn shares and 7% in value to QR518mn but on 9% decrease in deals to 19,173.