Foreign funds lift sentiments in QSE as index gains 36 points

The foreign institutions’ increased net buying interests yesterday lifted the Qatar Stock Exchange’s key barometer 36 points.A higher than average demand for the insurance and banking sectors led the 20-stock Qatar Index gain 0.29% to 12,427.39 points, recovering from an intraday low of 12,339 points.The Arab institutions were seen net buyers in the market, whose year-to-date gains were at 6.89%.The foreign retail investors continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation saw QR0.29bn or 0.04% increase to QR694.47bn, mainly on the back of microcap segments.The Islamic index was seen declining vis-à-vis gains in the other indices in the market, which saw a total of 0.04mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.46mn changed hands across 25 deals.Trade turnover and volumes were on the increase in the main market; while the venture market saw decreased turnover and trade volumes.The domestic institutions were increasingly bearish in the bourse, which saw no trading of sovereign bonds.The local retail investors were also increasingly net sellers in the main market, which saw no trading of treasury bills.The Total Return Index grew 0.29% to 25,455.33 points and All Share Index by 0.21% to 3,966.06 points, while Al Rayan Islamic Index (Price) was down 0.06% to 2,726.26 points.The insurance index expanded 0.94%, banks and financial services (0.51%) and consumer goods and services (0.08%); while real estate declined 0.81%, transport (0.5%), telecom (0.36%) and industrials (0.1%).About 67% of the traded constituents extended gains in the main market and included QIIB, Commercial Bank, Ahlibank Qatar, Woqod and Qatar Insurance. In the venture market, Mekdam Holding saw its shares appreciate in value.Nevertheless, Qatar General Insurance and Reinsurance, Widam Food, Estithmar Holding, Dlala, Qatari German Medical Devices, Lesha Bank, Inma Holding, Gulf International Services, Ezdan, Mazaya Qatar and Milaha saw their shares depreciate in value.The foreign institutions’ net buying increased considerably to QR88.51mn compared to QR54.68mn on November 1.The Arab institutions turned net buyers to the tune of QR0.18mn against no major net exposure the previous day.However, the Gulf individuals’ net selling strengthened significantly to QR37.55mn compared to QR16.21mn on Tuesday.The domestic institutions’ net profit booking grew perceptibly to QR35.33mn against QR32.72mn on November 1.The local retail investors’ net profit booking weakened noticeably to QR8.52mn against QR17.75mn the previous day.The Arab retail investors were net sellers to the extent of QR3.01mn compared with net buyers of QR1.01mn on Monday.The Gulf institutions’ net profit booking grew marginally to QR1.58mn against QR1.5mn on November 1.The foreign individuals’ net buying shrank noticeably to QR1.07mn compared to QR3.26mn the previous day.Total trade volume in the main market was up 0.36% to 107.36mn shares, value by 22% to QR471.75mn and deals by 17% to 18,696.The venture market saw a 65% contraction in trade volumes to 0.09mn equities, 65% in value to QR0.66mn and 74% in transactions to 45.