QSE opens week on stronger note; foreign funds turn bullish

The Qatar Stock Exchange (QSE) on Sunday opened the week on a bullish note, albeit at lower levels, with its key index gaining more than 15 points on buying interests especially in the telecom and banking sectors.The foreign institutions were seen net buyers as the 20-stock Qatar Index rose 0.14% to 10,409.59 points, but recovering from an intraday low of 10,441 points.The Gulf institutions’ weakened net profit booking had its influence in the main bourse, whose capitalisation was up QR0.68bn or 0.11% to QR618bn primarily on the back of microcap segments.The domestic funds continued to be net buyers but with lesser intensity in the main market, which saw as many as 5,600 exchange traded funds (sponsored by Doha Bank) valued at QR0.06mn change hands across four deals.The Islamic index was seen declining vis-à-vis gains in the other indices of the main bourse, whose trade turnover and volumes were on the decline.The foreign retail investors continued to be bullish but with lesser vigour in the main market, which saw no trading of treasury bills.The Gulf individuals were seen increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index was up 0.14% and the All Share Index by 0.15%, while the All Islamic Index was down 0.01% in the main market.The telecom sector index gained 0.96%, banks and financial services (0.26%), insurance (0.15%) and industrials (0.07%); while real estate declined 0.48%, consumer goods and services (0.37%) and transport (0.15%).Major gainers in the main bourse included Qatari Investors Group, Doha Insurance, Ooredoo, Beema and Ahlibank Qatar. In the venture market, Al Mahhar Holding saw its shares appreciate in value.Nevertheless, about 57% of the traded constituents were in the red in the main market with major losers being Dlala, Ezdan, Meeza, QIIB and Milaha. In the junior bourse, Techno Q saw its shares depreciate in value.The foreign institutions turned net buyers to the tune of QR6.04mn compared with net sellers of QR32.19mn on November 21.The Gulf institutions’ net profit booking decreased noticeably to QR6.86mn against QR8.59mn the previous trading day.However, the Gulf individual investors’ net selling grew markedly to QR4.87mn compared to QR0.95mn last Thursday.The Qatari individuals were net sellers to the extent of QR1.26mn against net buyers of QR11.04mn on November 21.The Arab individuals turned net sellers to the tune of QR0.94mn compared with net buyers of QR2.63mn the previous trading day.The domestic institutions’ net buying declined substantially to QR6.85mn against QR25.81mn last Thursday.The foreign retail investors’ net buying weakened perceptibly to QR1.05mn compared to QR2.23mn on November 21.The Arab institutions had not major net exposure for the fifth straight session.Trade volumes in the main market shrank 23% to 99.8mn shares, value by 40% to QR224.47mn and transactions by 45% to 8,501.The venture market saw 78% shrinkage in trade volumes to 0.12mn equities, 76% in value to QR0.34mn and 59% in deals to 32.