QSE gains 23 points on buy support; Islamic equities outperform

The Qatar Stock Exchange (QSE) on Tuesday gained more than 23 points on buying interests especially in the telecom, transport, real estate and consumer goods sectors.

The Gulf individuals were seen net buyers as the 20-stock Qatar Index rose 0.22% to 10,568.52 points, recovering from an intraday low of 10,528 points.

The foreign individuals’ weakened net profit booking had its influence in the main market, whose year-to-date losses truncated to 2.42%.

The foreign funds continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR0.23bn or 0.04% to QR627.08bn on the back of small cap segments.

The Arab retail investors also continued to be bullish but with lesser vigour in the main market, which saw as many as 0.19mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.46mn trade across 31 deals.

The Islamic index was seen gaining faster than the other indices of the main bourse, whose trade turnover and volumes were on the decline.

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

The local retail investors turned net sellers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 0.22%, the All Islamic Index by 0.29% and the All Share Index by 0.15% in the main market.

The telecom sector index shot up 1.02%, transport (0.62%), real estate (0.5%), consumer goods and services (0.4%), banks and financial services (0.11%) and insurance (0.05%); while industrials declined 0.28%.

Major movers in the main market included Beema, Qatar Islamic Insurance, Al Khaleej Takaful, Nakilat, Qatar National Cement, Woqod, Qamco, Barwa, Mazaya Qatar and Ooredoo.

Nevertheless, as much as 48% of the traded constituents were in the red with major losers in the main bourse being Estithmar Holding, Doha Insurance, Qatar German Medical Devices and Dlala. In the venture market, Techno Q saw its shares appreciate in value.

The Gulf individuals were seen net buyers to the tune of QR1.04mn compared with net sellers of QR2.42mn on November 4.

The Gulf institutions’ net profit booking declined perceptibly to QR1.97mn against QR8.09mn the previous day.

The foreign retail investors’ net selling weakened noticeably to QR3.51mn compared to QR9.75mn on Monday.

The Qatari individual investors’ net profit booking shrank markedly to QR3.11mn against QR19.88mn on November 4.

However, the domestic institutions’ net selling strengthened notably to QR7.88mn compared to QR4.29mn the previous day.

The foreign institutions’ net buying shrank substantially to QR13.08mn against QR31.41mn on Monday.

The Arab individual investors’ net buying decreased significantly to QR2.36mn compared to QR13.01mn on November 4.

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

Trade volumes in the main market shrank 33% to 132.35mn shares, value by 18% to QR330.68mn and transactions by 2% to 12,656.

The venture market saw 61% contraction in trade volumes to 0.27mn equities, 61% in value to QR0.71mn and 56% in deals to 30.