Earnings sentiments lift QSE as index vaults 165 points

Earnings sentiments overshadowed the regional uncertainties in the Qatar Stock Exchange (QSE), which on Tuesday gained as much as 165 points on an across the board buying and capitalisation added more than QR9bn.

The domestic institutions were increasingly net buyers as the 20-stock Qatar Index rose 1.57% to 10,642.47 points, recovering from an intraday low of 10,480 points.

The telecom, banks and transport counters witnessed higher than average demand in the main market, whose year-to-date losses truncated to 1.74%.

More than 80% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR9.26bn or 1.5% jump to QR626.4bn on the back of large cap segments.

However, local retail investors were increasingly bearish in the main market, which saw 0.05mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.11mn trade across seven deals.

The Islamic index was seen gaining slower than the other indices in the main bourse, whose trade turnover and volumes were on the increase.

The foreign institutions were seen increasingly into net selling in the main market, which saw no trading of treasury bills.

The foreign individuals were increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index gained 1.57%, the All Islamic Index by 1.29% and the All Share Index by 1.5% in the main market.

The telecom sector index shot up 2.36%, banks and financial services (1.79%), transport (1.73%), industrials (1%), realty (1%), insurance (0.999%) and consumer goods and services (0.53%).

Major movers in the main bourse included Ooredoo, Qatar German Medical Devices, Doha Insurance, Masraf Al Rayan, Nakilat, Qatar Islamic Bank, Commercial Bank, Doha Bank, QNB, Industries Qatar, Estithmar Holding, Mazaya Qatar, Barwa and Milaha. In the venture market, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.

Nevertheless, Vodafone Qatar, Meeza, Dlala, Qatar National Cement and Al Meera were among the shakers in the main market.

The domestic funds’ net buying increased substantially to QR192.39mn compared to QR46.63mn on October 14.

However, the Qatari individuals’ net selling grew significantly to QR77.63mn against QR0.51mn the previous day.

The foreign funds’ net profit booking strengthened drastically to QR50.64mn compared to QR24.65mn on Sunday.

The foreign individual investors’ net selling expanded markedly to QR27.54mn against QR18.1mn on October 14.

The Gulf institutions turned net sellers to the tune of QR27.22mn compared with net buyers of QR0.58mn the previous day.

The Arab individual investors’ net profit booking rose noticeably to QR7.68mn against QR4.38mn on Sunday.

The Gulf retail investors were net sellers to the extent of QR1.69mn compared with net buyers of QR0.42mn on October 14.

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

Trade volumes in the main market grew 22% to 223.68mn shares, value by 96% to QR710.79mn and transactions by 43% to 20,672.

In the venture market, trade volumes grew almost six-fold to 1.11mn equities and value almost quadrupled to QR2.56mn on more than doubled deals to 90.