Foreign funds lift QSE 24 points; Islamic equities outperform

The Qatar Stock Exchange (QSE) on Monday gained more than 24 points on buying interests, especially in the banks, realty and telecom sectors.The foreign funds were increasingly net buyers as the 20-stock Qatar Index gained 0.24% to 10,196.3 points, recovering from an intraday low of 10,132 points.The foreign individuals were seen bullish in the main market, whose year-to-date losses truncated to 5.86%.About 49% of the traded constituents extended gains in the main bourse, whose capitalisation added QR1.17bn or 0.2% to QR590.76bn on the back of midcap segments.The Gulf funds turned net buyers, albeit at lower levels, in the main market, which saw 8,320 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.03mn trade across five deals.However, the domestic institutions were increasingly net sellers in the main bourse, which saw no trading of treasury bills.The local retail investors were also increasingly bearish in the main market, which saw no trading of sovereign bonds.The Islamic index was seen outperforming the other indices in the main bourse, whose trade turnover and volumes were on the increase.The Total Return Index rose 0.24%, the All Islamic Index by 0.29% and the All Share Index by 0.22% in the main market.The banks and financial services sector index gained 0.41%, realty (0.36%), telecom (0.27%) and transport (0.1%); while insurance declined 0.34%, industrials 0.04% and consumer goods and services (0.01%).Major shakers in the main market included QIIB, Mesaieed Petrochemical Holding, Dukhan Bank, Zad Holding and Lesha Bank. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Widam Food, Mazaya Qatar, Ezdan, Qatar National Cement and Salam International Investment were among the losers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.The foreign institutions’ net buying increased substantially to QR65.81mn compared to QR24.38mn on July 14.The foreign individual investors turned net buyers to the tune of QR1.11mn against net sellers of QR1.9mn the previous day.The Gulf institutions were net buyers to the extent of QR0.02mn compared with net profit takers of QR1.01mn on Sunday.However, the domestic institutions’ net selling expanded significantly to QR36.93mn against QR6.03mn on July 14.The Qatari individual investors’ net selling strengthened noticeably to QR22.29mn compared to QR12.9mn the previous day.The Arab retail investors’ net profit booking reinforced markedly to QR5.84mn against QR1.71mn on Sunday.The Gulf individual investors’ net selling zoomed perceptibly to QR1.87mn compared to QR0.75mn on July 14.The Arab institutions had no major net exposure against net profit takers to the extent of QR0.02mn the previous day.Trade volumes in the main market were up less than 1% to 154.58mn shares, value by 49% to QR465.17mn and transactions by 45% to 17,317.The venture market saw 74% plunge in trade volumes to 0.92mn equities, 70% in value to QR1.98mn and 22% in deals to 111.