The Qatar Stock Exchange (QSE) yesterday opened the week on a stronger note with its key index gaining as much as 26 points on the back of foreign funds’ buying interests.

The telecom, industrials and banking counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.26% to 10,060.21 points, recovering from an intraday low of 9,994 points.

The Gulf institutions’ weakened net profit booking had its influence in the main market, whose year-to-date losses were at 7.11%.

The Arab individuals continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR1.76bn or 0.3% to QR582.02n on the back of midcap segments.

The local individuals were increasingly seen bearish in the main market, which saw no trading of exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank).

The domestic institutions turned net sellers in the main bourse, which saw no trading of treasury bills.

The foreign retail investors were seen net profit takers 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 sloppy path.

The Total Return Index gained 0.26%, the All Islamic Index by 0.36% and the All Share Index by 0.27% in the main market.

The telecom sector index shot up 1.8%, industrials (0.41%), banks and financial services (0.41%) and insurance (0.01%); while transport declined 0.96%, real estate (0.27%) and consumer goods and services (0.26%).

Major gainers in the main market included Ahlibank Qatar, Ooredoo, Medicare Group, Milaha, QLM and Industries Qatar.

Nevertheless, Nakilat, Ezdan, Qatari Investors Group, QIIB, Dlala and Al Faleh Educational Holding were among the shakers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.

The foreign institutions’ net buying increased significantly to QR32.04mn compared to QR7.21mn on July 18.

The Gulf institutions’ net profit booking decreased noticeably to QR8.22mn against QR11.32mn the previous trading day.

However, the Qatari individuals’ net selling expanded markedly to QR18.8mn compared to QR7.99mn last Thursday.

The domestic institutions turned net sellers to the tune of QR3.17mn against net buyers of QR8.01mn on July 18.

The foreign individuals were net sellers to the extent of QR3.15mn compared with net buyers of QR0.34mn the previous trading day.

The Gulf retail investors turned net profit takers to the tune of QR2.07mn against net buyers of QR0.34mn last Thursday.

The Arab retail investors’ net buying weakened marginally to QR3.37mn compared to QR3.41mn on July 18.

The Arab institutions continued to have no major net exposure for the fifth straight session.

Trade volumes in the main market shrank 37% to 112.78mn shares, value by 45% to QR258.78mn and transactions by 52% to 9,185.

The venture market saw 49% surge in trade volumes to 0.79mn equities and 35% in value to QR1.52mn but on 8% fall in deals to 55.