QSE inches towards 13,500 points; M-cap expands QR8bn

Ahead of oil group’s meet to discuss supply adjustments, the Qatar Stock Exchange on Monday steered towards 13,500 levels, mainly on the back of strong buying in realty, telecom and banking sectors.The foreign institutions’ increased net buying helped the 20-stock Qatar Index gain more than 99 points or 0.74% to 13,469.11 points, although it touched an intraday high of 13,546 points.As much as 60% of the traded constituents extended gains in the market, whose year-to-date gains were at 15.86%.The weakened net selling pressure of the local retail investors also had its influence in the bourse, whose capitalisation grew more than QR8bn or 1.1% to QR743.01bn, mainly on the back of midcap segments.The Islamic index was seen underperforming the main index in the market, where the industrials sector alone constituted more than 50% of the total trading volume.The Gulf funds continued to be net buyers but with lesser intensity in the bourse, which saw a total of 0.03mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.13mn changed hands across eight deals.The foreign individuals’ weakened net selling had is say in the market, which saw no trading of sovereign bonds.The domestic funds were nevertheless increasingly into net profit booking in the bourse, which saw no trading of treasury bills.The Total Return Index rose 0.74% to 27,589.1 points, All Share Index by 0.7% to 4,259.48 points and Al Rayan Islamic Index (Price) by 0.68% to 2,947.81 points.The real estate sector index shot up 1.96%, telecom (1.39%), banks and financial services (1%) and industrials (0.55%); while transport declined 0.83%, insurance (0.71%) and consumer goods and services (0.13%).Major gainers in the main market included Ezdan, Estithmar Holding, Mazaya Qatar, Qamco, Salam International Investment, QNB, Qatari German Medical Devices, Qatar Electricity and Water, Aamal Company, Gulf International Services and Ooredoo.Nevertheless, Zad Holding, Gulf Warehousing, Al Meera Consumer Goods, Milaha and Ahlibank Qatar were among the losers in the main market. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares depreciate in value.The foreign institutions’ net buying increased substantially to QR86.33mn compared to QR16.79mn on July 31.The Arab funds turned net buyers to the extent of QR0.1mn against net profit takers of QR0.02mn on Sunday.Local retail investors’ net selling declined considerably to QR37.82mn compared to QR82mn the previous day.The foreign individuals’ net profit booking weakened significantly to QR0.79mn against QR11.24mn on July 31.The Gulf retail investors’ net selling eased perceptibly to QR0.42mn compared to QR3.25mn on Sunday.However, the domestic funds were net profit takers to the tune of QR42.98mn against net buyers of QR50.66mn the previous day.The Arab individuals turned net sellers to the extent of QR8.9mn compared with net buyers of QR9.02mn on July 31.The Gulf institutions’ net buying weakened drastically to QR4.49mn against QR20.03mn on Sunday.Total trade volume in the main market more than doubled to 390.12mn shares and value almost doubled to QR999.86mn on 73% increase in transactions to 24,521.The real estate sector’s trade volume more than quadrupled to 97.12mn equities and value more than tripled to QR110.78mn on more than doubled deals to 2,094.The consumer goods and services sector’s trade volume almost doubled to 38.76mn stocks, value soared 71% to QR64.19mn and transactions by 59% to 1,911.The industrials sector’s trade volume almost doubled to 195.79mn shares, value shot up 84% to QR449.54mn and deals by 64% to 8,807.The transport sector reported 78% surge in trade volume to 4.09mn equities, 74% in value to QR20.68mn and transactions by 98% to 1,106.The banks and financial services sector’s trade volume zoomed 51% to 47.09mn stocks, value by 98% to QR327.98mn and deals by 72% to 9,140.The insurance sector saw 19% expansion in trade volume to 3.81mn shares, 18% in value to QR9.24mn and 17% in transactions to 381.However, the telecom sector’s trade volume was down 5% to 3.45mn equities, whereas value more than doubled to 17.45mn and deals more than tripled to 1,082.In the venture market, trade volumes stood at 0.58mn stocks, value at QR3.61mn and transactions at 223.