QSE edges up amid buying support; Islamic equities outperform

The Qatar Stock Exchange (QSE) on Thursday edged up marginally higher amidst strong buying interests, particularly in the insurance, telecom and real estate counters.

The domestic funds were seen increasingly net buyers as the 20-stock Qatar Index rose mere 0.02% to 10,323.32 points, recovering from an intraday low of 10,282 points.

The local retail investors were also increasingly bullish in the main market, whose year-to-date losses truncated to 4.68%.

About 57% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.09bn or 0.18% to QR597.17bn on the back of small and microcap segments.

The Gulf individuals were net buyers, albeit at lower levels, in the main market, which saw 8,480 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.05mn trade across four deals.

However, the foreign funds were increasingly net sellers in the main bourse, which saw no trading of treasury bills.

The Gulf institutions were also increasingly 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 decline.

The Total Return Index was up 0.02%, the All Share Index by 0.1% and the All Islamic Index by 0.19% in the main market.

The insurance sector index shot up 1.52%, telecom (1.35%), realty (0.53%), banks and financial services (0.09%) and industrials (0.02%); while transport declined 0.96% and consumer goods and services (0.02%).

Major gainers in the main bourse included Qatar General Insurance and Reinsurance, Dlala, Ooredoo, Medicare Group, Ezdan, Lesha Bank and Barwa. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.

Nevertheless, Nakilat, Mekdam Holding, Al Faleh Educational Holding, QIIB and Gulf Warehousing were among the losers in the main market.

The domestic institutions’ net buying increased substantially to QR16.02mn compared to QR9.58mn on September 4.

The local retail investors’ net buying strengthened noticeably to QR11.6mn against QR8.29mn the previous day.

The Gulf individuals turned net buyers to the tune of QR0.65mn compared with net sellers of QR0.32mn on Wednesday.

However, the foreign institutions’ net selling expanded perceptibly to QR14.92mn against QR11.57mn on September 4.

The Gulf institutions’ net profit booking grew markedly to QR7.87mn compared to QR3.67mn the previous day.

The Arab individual investors’ net selling soared notably to QR4.98mn against QR2.29mn on Wednesday.

The foreign retail investors’ net profit booking rose marginally to QR0.5mn compared to QR0.02mn on September 4.

The Arab institutions had no major net exposure for the fifth straight session.

Trade volumes in the main market declined 3% to 118.89mn shares, value by 10% to QR259.82mn and transactions by 14% to 10,836.

The venture market saw 60% plunge in trade volumes to 0.63mn equities, 58% in value to QR1.55mn and 16% in deals to 79.