Bullish foreign funds lift sentiments in QSE as index gains 13 points

Reflecting the ease in the US-China trade tensions, the Qatar Stock Exchange (QSE) today gained more than 13 points despite the market skewed towards shakers.

The foreign funds were seen bullish as the 20-stock Qatar Index rose 0.12% to 10,821.85 points, recovering from an intraday low of 10,793 points.

The domestic institutions turned net buyers in the main market, whose year-to-date gains improved to 2.37%.

The Gulf individuals were seen bullish in the main bourse, whose capitalisation added QR0.85bn or 0.13% to QR647.98bn, mainly on microcap segments.

The telecom, insurance and banking counters witnessed higher than average demand in the main market, which saw as many as 0.33mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.74mn trade across 53 deals.

The Gulf institutions continued to be net buyers but with lesser intensity in the main bourse, whose trade turnover fell amidst higher volumes.

The Islamic index was seen gaining on par with the main barometer of the main market, which saw no trading of treasury bills.

The Arab retail investors continued to be bullish but with lesser vigour in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 0.12%, the All Islamic Index by 0.12% and the All Share Index by 0.14% in the main market.

The telecom sector index shot up 1%, insurance (0.58%), banks and financial services (0.26%) and consumer goods and services (0.11%); while real estate declined 1.04%, transport (0.2%) and industrials (0.17%).

As many as 22 stocks gained, while 27 declined and three were unchanged.

Major movers in the main market included Qatar General Insurance and Reinsurance, Medicare Group, QIIB, Ooredoo, Estithmar Holding, Salam International Investment, Industries Qatar and Vodafone Qatar.

Nevertheless, about 52% of the traded constituents were in the red with major losers being Qamco, Commercial Bank, Qatar German Medical Devices, Aamal Company, Gulf International Services, Mannai Corporation, Inma Holding, Qatar Oman Investment, Widam Food, Al Mahhar Holding, Mesaieed Petrochemical Holding, Mazaya Qatar, Ezdan, United Development Company, Nakilat and Gulf Warehousing. In the venture market, Techno Q saw its shares depreciate in value.

The foreign institutions turned net buyers to the tune of QR5.47mn compared with net sellers of QR12.1mn the previous day.

The domestic institutions were net buyers to the extent of QR4.03mn against net sellers of QR0.52mn on October 20.

The Gulf retail investors turned net buyers to the tune of QR0.32mn compared with net sellers of QR5.1mn on Monday.

However, the local retail investors were net sellers to the extent of QR15.59mn against net buyers of QR4.41mn the previous day.

The foreign individuals turned net sellers to the tune of QR1.03mn compared with net buyers of QR0.19mn on October 20.

The Gulf institutions’ net buying declined noticeably to QR3.93mn against QR7.49mn on Monday.

The Arab individual investors’ net buying shrank markedly to QR2.88mn compared to QR5.62mn the previous day.

The Arab institutions had no major net exposure for the third consecutive day.

The main market saw an 11% jump in trade volumes to 136.86mn shares but on 7% fall in value to QR279.6mn and 2% in deals to 17,259.

In the venture market, a total of 0.07mn equities valued at QR0.15mn changed hands across 22 transactions.