QSE sees demand across the board, index gains 37 points; M-cap adds QR1.86bn

The Qatar Stock Exchange (QSE) yesterday opened the week on a stronger note with its key index gaining more than 37 points on an across the board buying, notably in the telecom, industrials and banking counters.The foreign funds were seen net buyers as the 20-stock Qatar Index gained 0.37% to 10,135.75 points, recovering from an intraday low of 10,093 points.The foreign individuals were increasingly net buyers in the main market, whose year-to-date losses truncated to 6.42%.More than 63% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.86bn or 0.32% to QR586.8bn on the back of small and microcap segments.The domestic institutions continued to be bullish but with lesser vigour in the main market, which saw as many as 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank), valued at QR0.05mn change hands across nine transactions.The Arab individual investors were seen net sellers in the main bourse, which saw no trading of treasury bills.The local retail investors turned net profit takers in the main market, which saw no trading of sovereign bonds.The Islamic index was seen gaining faster than the main barometer but slower than the other indices in the main bourse, whose trade turnover and volumes were on the decline.The Total Return Index rose 0.56%, the All Islamic Index by 0.42% and the All Share Index by 0.48% in the main market.The telecom sector index soared 1.03%, industrials (0.6%), banks and financial services (0.47%), consumer goods and services (0.47%), real estate (0.42%), insurance (0.19%) and transport (0.16%).Major gainers in the main market included Baladna, Qatar Industrial Manufacturing, Mekdam Holding, Ooredoo, Qatar Electricity and Water, Commercial Bank and Medicare Group. In the junior bourse, both Al Mahhar Holding and Techno Q saw their shares appreciate in value.Nevertheless, Ahlibank Qatar, Dlala, QLM, Qatar Oman Investment and Aamal Company were among the shakers in the main market.The foreign institutions turned net buyers to the tune of QR4.79mn compared with net sellers of QR23.93mn on July 25.The foreign individual investors’ net buying rose marginally to QR0.23mn against QR0.09mn the previous trading day.The Gulf institutions’ net profit booking weakened noticeably to QR2.32mn compared to QR3.9mn last Thursday.However, the Arab retail investors were net sellers to the extent of QR5.71mn against net buyers of QR0.32mn on July 25.The Qatari individuals turned net sellers to the tune of QR3.17mn compared with net buyers of QR17.2mn the previous trading day.The Gulf individual investors’ net selling strengthened marginally to QR1.58mn against QR1mn last Thursday.The Arab funds were net profit takers to the extent of QR0.35mn compared with net no major net exposure on July 25.The domestic institutions’ net buying weakened noticeably to QR8.12mn against QR11.19mn the previous trading day.Trade volumes in the main market fell 21% to 79.51mn shares, value by 30% to QR208.81mn and transactions by 28% to 8,682.The venture market saw 46% contraction in trade volumes to 0.46mn equities, 49% in value to QR0.91mn and 52% in deals to 41.