Buying interests in realty, telecom and transport lift sentiments in QSE

A higher than average demand, especially in the real estate, telecom and transport counters, led the Qatar Stock Exchange (QSE) continue in the positive trajectory for the second straight session.

The foreign institutions continued to be net buyers but with lesser intensity as the 20-stock Qatar Index rose about 20 points or 0.2% to 10,140.42 points, recovering from an intraday low of 10,123 points.

The Gulf institutions’ weakened net profit booking had its influence in the main market, whose year-to-date losses truncated further to 6.37%.

As much as 50% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR0.89bn or 0.15% to QR586.25bn on the back of microcap segments.

The foreign individuals’ lower net selling had its say in the main market, which saw as many as 3,000 exchange traded funds (sponsored by Masraf Al Rayan), valued at QR0.07mn change hands across one transaction.

The local retail investors’ bearish grip was seen slackening in the main bourse, which saw no trading of treasury bills.

However, the domestic funds were increasingly net profit takers in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen gaining slower than the main barometer in the main bourse, whose trade turnover fell amidst higher volumes.

The Total Return Index gained 0.19%, the All Islamic Index by 0.17% and the All Share Index by 0.16% in the main market.

The real estate sector index rose 0.36%, telecom (0.34%), transport (0.22%), industrials (0.22%), industrials (0.2%) and banks and financial services (0.19%); while insurance declined 0.53% and consumer goods and services 0.21%.

Major gainers in the main market included Mekdam Holding, Alijarah Holding, QLM, Qatar Industrial Manufacturing and Qatar Electricity and Water. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.

Nevertheless, Medicare Group, Dlala, Al Faleh Educational Holding, Zad Holding and Widam Food were among the shakers in the main bourse.

The Qatari individual investors’ net selling declined markedly to QR24.58mn compared to QR27.34mn on July 22.

The foreign retail investors’ net profit booking shrank noticeably to QR0.63mn against QR8.6mn the previous day.

The Gulf institutions’ net selling weakened significantly to QR1.97mn compared to QR7.53mn on Monday.

However, the domestic institutions’ net profit booking expanded considerably to QR23.66mn against QR13.54mn on July 22.

The Gulf retail investors turned net sellers to the tune of QR1.34mn compared with net buyers of QR0.49mn the previous day.

The Arab individuals were net profit takers to the extent of QR0.35mn against net buyers of QR1.95mn on Monday.

The foreign institutions’ net buying eased marginally to QR52.53mn compared to QR54.59mn on July 22.

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

Trade volumes in the main market soared 20% to 118.67mn shares, while value shrank 5% to QR290.66mn and transactions by 1% to 12,826.

The venture market saw about 16-fold jump in trade volumes to 0.62mn equities and value by more than 13-fold to QR1.18mn on more than tripled deals to 53.