Foreign funds’ buying keeps QSE on positive trajectory as index gains 28 points; M-cap adds QR1.52bn

The Qatar Stock Exchange (QSE) today sustained bullish run for the second straight session as its key index gained more than 28 points on the back of foreign funds’ buying interests.The consumer goods and industrials counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.26% to 10,850.33 points, recovering from an intraday low of 10,784 points.The foreign individuals were seen net buyers in the main market, whose year-to-date gains improved further to 2.64%.About 51% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR1.52bn or 0.23% to QR649.5bn, mainly on small and microcap segments.The Gulf retail investors were increasingly bullish in the main market, which saw as many as 0.03mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.08mn trade across 10 deals.The Gulf institutions continued to be net buyers but with lesser intensity in the main bourse, whose trade turnover grew amidst lower volumes.The Islamic index was seen gaining slower than the main barometer of the main market, which saw no trading of treasury bills.The local individuals were seen increasingly net sellers in the main bourse, which saw no trading of sovereign bonds.The Total Return Index rose 0.26%, the All Islamic Index by 0.22% and the All Share Index by 0.21% in the main market.The consumer goods and sector index gained 0.78%, industrials (0.68%), banks and financial services (0.15%) and telecom (0.01%); while transport declined 0.49%, real estate (0.32%) and insurance (0.25%).As many as 27 stocks gained, while 21 declined and five were unchanged.Major movers in the main market included Meeza, QLM, Medicare Group, Qatar National Cement, Commercial Bank, Inma Holding, Woqod, Industries Qatar, Gulf International Services, Qatar Electricity and Water and Mesaieed Petrochemical Holding.Nevertheless, Qatar General Insurance and Reinsurance, Qatari Investors Group, Milaha, Al Mahhar Holding and Barwa were among the shakers in the main bourse. In the venture market, Techno Q saw its shares depreciate in value.The foreign institutions’ net buying increased substantially to QR23.34mn compared to QR5.47mn the previous day.The foreign individuals turned net buyers to the tune of QR2.56mn against net sellers of QR1.03mn on October 21.The Gulf retail investors’ net buying expanded significantly to QR2.4mn compared to QR0.32mn on Tuesday.However, the local retail investors’ net selling strengthened noticeably to QR24.34mn against QR15.59mn the previous day.The domestic institutions were net sellers to the extent of QR5.98mn compared with net buyers of QR4.03mn on October 21.The Arab individual investors turned net sellers to the tune of QR1.18mn against net buyers of QR2.88mn on Tuesday.The Gulf institutions’ net buying declined marginally to QR3.2mn compared to QR3.93mn the previous day.The Arab institutions had no major net exposure for the fourth consecutive day.The main market saw an 11% contraction in trade volumes to 122.05mn shares but on 12% jump in value to QR313.21mn and 20% in deals to 20,699.In the venture market, a total of 0.15mn equities valued at QR0.35mn changed hands across 45 transactions.