QSE inches towards 10,400 level on Gulf funds’ increasing buying interests

The Qatar Stock Exchange (QSE) on Tuesday gained more than 97 points and its key index inched towards 10,400 levels, mainly lifted by the insurance and transport sectors.
The Gulf institutions were seen increasingly into net buying as the 20-stock Qatar Index rose 0.94% to 10,396.21 points.
The market, which was skewed towards gainers, had touched an intraday high of 10,422 points.
The domestic funds’ weakened net selling had its influence on the main market, whose year-to-date losses narrowed to 2.67%.
About 76% of the traded constituents extended gains in the main bourse, whose capitalisation added QR5.78bn or 0.97% to QR603bn, mainly on account of midcap segments.
The Arab institutions’ weakened net profit booking also had its say in the main market, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.37mn changed hands across 11 deals.
However, the local retail investors were increasingly into net selling in the main bourse, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than then other indices in the main market, which saw no trading of treasury bills.
The Total Return Index rose 0.94%, the All Share Index by 0.95% and the Al Rayan Islamic Index (Price) by 0.93% in the main bourse, whose trade turnover and volumes were on the increase.
The insurance sector index shot up 2.43%, transport (2.12%), banks and financial services (0.86%), real estate (0.86%), industrials (0.83%), telecom (0.67%) and consumer goods and services (0.45%).
Major gainers in the main market included Qatar General Insurance and Reinsurance, Gulf International Services, Milaha, Ezdan, Dlala, Qatar Islamic Bank, Mannai Corporation, Mesaieed Petrochemical Holding, Qatar Insurance, Beema, Vodafone Qatar and Gulf Warehousing.
Nevertheless, Qatari German Medical Devices, Baladna, Al Khaleej Takaful, Doha Insurance and Qatar Electricity and Water were among the shakers in the main market.
The Gulf institutions’ net buying increased substantially to QR23.11mn compared to QR3.51mn on April 2.
The domestic institutions’ net profit booking declined noticeably to QR2.54mn against QR13.02mn the previous day.
The Arab institutions’ net selling weakened marginally to QR1.01mn compared to QR2.3mn on Monday.
However, the local retail investors’ net selling grew substantially to QR13.67mn against QR3.15mn on April 2.
The Arab individuals were net sellers to the extent of QR10.53mn compared with net buyers of QR0.29mn the previous day.
The Gulf individual investors’ net profit booking rose perceptibly to QR7.69mn against QR5.48mn on Monday.
The foreign retail investors turned net sellers to the tune of QR2.77mn compared with net buyers of QR1.82mn on April 2.
The foreign institutions’ net buying eased marginally to QR17.11mn against QR18.33mn the previous day.
In the main market, trade volumes jumped 19% to 163.44mn shares and value by 16% to QR456.57mn, whereas deals were down 1% to 15,069.