QSE surpasses 11,000 points with ease on foreign funds’ increased net buying

The Qatar Stock Exchange Monday gained more than 120 points and its key index surpassed 11,000 points with an ease, reflecting the global optimism on Chinese growth prospects.The foreign institutions were increasingly net buyers as the 20-stock Qatar Index shot up 1.1% to 11,025.14 points, recovering from an intraday low of 10,893 points.The banks and financial services counter witnessed higher than average demand in the main market, whose year-to-date gains improved further to 3.22%.The Gulf institutions were seen net buyers in the main bourse, whose capitalisation saw QR7.33bn or 1.18% increase to QR628.1bn, mainly led by mid and small cap segments.More than 55% of the traded constituents extended gains to investors in the main market, which saw a total of 0.29mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR2.1mn changed hands across 41 deals.However, the local individuals were increasingly net profit takers in the main bourse, which saw no trading of sovereign bonds.The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.The Total Return Index rose 1.17%, All Share Index by 1.25% and Al Rayan Islamic Index (Price) by 0.73% in the main bourse, whose trade turnover volumes were on the decline.The banks and financial services sector index zoomed 2.21%, telecom (0.92%), transport (0.75%), real estate (0.54%) and insurance (0.4%); while consumer goods and services declined 0.22% and industrials (0.08%).Major gainers in the main market included QLM, Qatari German Medical Devices, QNB, QIIB, Gulf Warehousing, Qamco and Vodafone Qatar. Nevertheless, Widam Food, Al Khaleej Takaful, Qatar Industrial Manufacturing, Zad Holding and Ezdan Ooredoo were among the losers in the main market.The foreign institutions’ net buying increased significantly to QR51.48mn compared to QR33.61mn on January 20.The Gulf institutions turned net buyers to the tune of QR9.07mn against net sellers of QR14.28mn the previous day.However, the Qatari individuals’ net selling shot up noticeably to QR28.92mn compared to QR18.27mn on Sunday.The domestic institutions’ net profit booking expanded perceptibly to QR27.36mn against QR13.22mn on January 20.The Arab individuals’ net selling strengthened markedly to QR2.71mn compared to QR8.92mn the previous day.The foreign retail investors were net sellers to the extent of QR1.14mn against net buyers of QR2.88mn on Sunday.The Gulf individuals turned net profit takers to the tune of QR0.44mn compared with net buyers of QR0.36mn on January 20.The Arab funds had no major net exposure for the fourth consecutive day.The main market saw an 8% shrinkage in trade volumes to 131.53mn shares, about 1% in value to QR473.04mn and 1% in deals to 15,350.