QSE sees across the board buying; foreign funds turn bullish

An across the board buying, especially in the insurance, telecom and banking counters, yesterday lifted the Qatar Stock Exchange more than 77 points and its key index settled near 14,200 points.The foreign institutions were seen bullish as the 20-stock Qatar Index gained 0.55% to 14,192.38 points, recovering from an intraday low of 14,098 points.The Gulf institutions were increasingly net buyers in the market, whose year-to-date gains were at 22.08%.The Arab funds were also increasingly bullish, albeit at lower levels, in the bourse, whose capitalisation saw about QR6bn or 0.76% increase to QR792.56bn, mainly on the back of mid and small cap segments.The Islamic index was seen gaining slower than the other indices in the market, where the industrials and consumer goods and services sectors together accounted for about 68% of the trading volume.About 56% of the traded constituents extended gains to investors in the market, which saw a total of 102,453 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.44mn changed hands across 23 deals.The Arab individuals’ weakened net selling also had its influence in the bourse, which saw no trading of sovereign bonds.Total trade turnover declined amidst higher volumes in the market, which saw no trading of treasury bills.The Total Return Index gained 0.55% to 28,957.08 points, All Share Index by 0.7% to 4,531.75 points and Al Rayan Islamic Index (Price) by 0.24% to 3,016.69 points.The insurance sector index shot up 1.79%, telecom (0.8%), banks and financial services (0.76%), industrials (0.64%), consumer goods and services (0.41%), transport (0.4%) and realty (0.03%).Major gainers in the main market included Qatar Insurance, Dlala, Investment Holding Group, Qatar National Cement, Doha Insurance, QNB, Industries Qatar, Aamal Company, Ooredoo, Ezdan and Nakilat. In the venture market, Mekdam Holding saw its shares appreciate in value.Nevertheless, Qatari Investors Group, QIIB, Qatar Oman Investment, Mannai Corporation and Alijarah Holding were among the losers in the main market; while it was Al Faleh Educational Holding in the juniour bourse.The foreign funds turned net buyers to the tune of QR27.73mn compared with net sellers of QR19.42mn on April 12.The Gulf institutions’ net buying increased significantly to QR32.54mn against QR0.55mn the previous day.The Arab institutions’ net buying strengthened marginally to QR0.37mn compared to QR0.33mn on Tuesday.The Arab individuals’ net selling declined considerably to QR0.79mn against QR3.07mn on April 12.However, the domestic funds’ net selling grew markedly to QR60.76mn compared to QR45.45mn the previous day.The Gulf individuals’ net profit booking shot up notably to QR1.15mn against QR0.35mn on Tuesday.Qatari individuals were net sellers to the tune of QR0.48mn compared with net buyers of QR61.07mn on April 12.The foreign individuals’ net buying shrank notably to QR2.54mn against QR6.35mn the previous day.Total trade volume in the main market rose 5% to 181.71mn shares, while value fell 5% to QR689.82mn and transactions by 30% to 14,584.The insurance sector’s trade volume more than quadrupled to 5.1mn equities and value also more than quadrupled to QR13.71mn on more than doubled deals to 304.The telecom sector’s trade volume almost tripled to 3.27mn stocks and value grew more than six-fold to QR19.98mn on more than five-fold growth in transactions to 1,082.The market witnessed 61% surge in the transport sector’s trade volume to 4.85mn shares, 46% in value to QR19.18mn and 7% in deals to 511.The industrials sector’s trade volume soared 17% to 90.92mn equities and value by 20% to QR307.79mn, while transactions tanked 26% to 4,274.However, the banks and financial services sector reported 28% plunge in trade volume to 28.21mn stocks, 34% in value to QR229mn and 48% in deals to 6,180.The real estate sector’s trade volume shrank 8% to 17.58mn shares, value by 20% to QR25.69mn and transactions by 14% to 754.The consumer goods and services sector saw 7% contraction in trade volume to 31.77mn equities but on 7% jump in value to QR74.47mn amidst 6% lower deals at 1,479.In the venture market, trade volumes zoomed 20% to 0.24mn stocks, whereas value dipped 12.33% to QR1.28mn despite 7.08% higher transactions at 121.(Ends)