Local, Arab retail investors’ buying support lifts QSE; Islamic index outperforms

The Qatar Stock Exchange Sunday opened the week on a stronger note with its key index gaining as much as 36 points, paced mainly by the real estate and insurance sectors.

The local retail investors were seen net buyers as the 20-stock Qatar Index rose 0.35% to 10,131.23 points.

The market, which was skewed towards movers, however, saw the index touch an intraday high of 10,246 points.

The domestic institutions’ weakened net selling had its influence on the main market, whose year-to-date losses narrowed further to 4.68%.

The foreign institutions continued to be net buyers but with lesser intensity in the main bourse, whose capitalisation added QR2.51bn or 0.43% to QR590.44bn, mainly on account of midcap segments.

Similarly, the Arab funds continued to be bullish but with lesser intensity in the main market, which saw a total of 0.13mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.78mn changed hands across 56 deals.

The foreign retail investors were seen net sellers in the main bourse, which saw no trading of sovereign bonds.

The Islamic index was seen outperforming the other indices in the main market, which saw no trading of treasury bills.

The Total Return Index gained 0.35%, the All Share Index by 0.3% and the Al Rayan Islamic Index (Price) by 0.81% in the main bourse, whose trade turnover declined amidst higher volumes.

The real estate sector index shot up 2.16%, insurance (1.74%), industrials (0.94%), transport (0.54%) and banks and financial services (0.05%); whereas telecom shrank 1.8% and consumer goods and services (0.35%).

More than 55% of the traded constituents in the main market extended gains with major movers being Lesha bank, Qamco, Ezdan, Widam Food, QLM, Masraf Al Rayan, Salam International Investment, Qatari German Medical Devices, Baladna, Industries Qatar, Al Khaleej Takaful, Barwa, Mazaya Qatar, Vodafone Qatar and Milaha.

In the venture market, Al Faleh Educational Holding saw its shares appreciate in value.

Nevertheless, Qatar Cinema and Film Distribution, Ooredoo, Zad Holding, Gulf International Services, Estithmar Holding, QIIB and Nakilat were among the losers in the main market.

The local retail investors turned net buyers to the tune of QR19.72mn compared with net sellers of QR13.57mn on April 27.

The Arab individuals’ net buying increased substantially to QR11.43mn against QR7.79mn the previous trading day.

The domestic institutions’ net selling decreased drastically to QR39.3mn compared to QR54.71mn last Thursday.

However, the foreign individuals were net sellers to the extent of QR0.98mn against net buyers of QR1.11mn on April 27.

The Arab institutions turned net sellers to the tune of QR0.06mn compared with net buyers of QR0.2mn the previous trading day.

The Gulf retail investors were net profit takers to the extent of QR0.01mn against net buyers of QR0.18mn last Thursday.

The foreign funds’ net buying weakened significantly to QR3.73mn compared to QR29.43mn on April 27.

The Gulf institutions’ net buying shrank markedly to QR5.49mn against QR29.59mn the previous trading day.

The main market saw a 31% jump in trade volumes to 237.26mn shares but on 11% contraction in value to QR460.89mn and 28% in deals to 13,796.