Foreign funds lift sentiments on QSE; Islamic index outperforms

An across the board buying, especially in the banking and financial services, yesterday lifted the Qatar Stock Exchange more than 53 points and its key index inched towards 13,400 levels.
Foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.4% higher at 13,383.44 points, recovering from an intraday low of 13,297 points.
The Islamic index was seen gaining faster than the other indices in the market, whose year-to-date gains were at 15.12%.
The Gulf funds were increasingly bullish in the market, whose capitalisation saw more than QR2bn or 0.32% increase to QR756.41bn, mainly on the back of midcap segments.
The Arab funds were seen net buyers, albeit at lower levels, in the bourse, where the industrials, consumer goods and banking sectors together accounted for about 84% of the trading volume.
Nevertheless, the domestic funds were increasingly into net selling in the bourse, which saw a total of 56,560 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR691,032 changed hands across 70 deals.
The local retail investors were seen net sellers in the market, which saw no trading of sovereign bonds.
Total trade turnover grew amidst lower volumes in the bourse, which saw no trading of treasury bills.
The Total Return Index rose 0.4% to 27,306.57points, the All Share Index by 0.35% to 4,280.93 points and the Al Rayan Islamic Index (Price) by 0.49% to 2,896.28 points.
The banks and financial services sector index gained 0.46%, transport (0.34%), real estate (0.29%), industrials (0.24%), telecom (0.19%), consumer goods and services (0.12%) and insurance (0.04%).
Major gainers in the main market included Qamco, Medicare Group, Qatar Industrial Manufacturing, Qatar Islamic Insurance, Mannai Corporation, Qatar Islamic Bank and Ooredoo.
In the venture market, Mekdam Holding saw its shares appreciate in value.
Nevertheless, Al Khaleej Takaful, Qatar Oman Investment, Qatar General Insurance and Reinsurance, Qatar First Bank, Salam International Investment, Aamal Company and Gulf International Services were among the losers in the main market.
The foreign institutions’ net buying increased significantly to QR121.49mn compared to QR26.59mn on March 20.
The Gulf institutions’ net buying zoomed substantially to QR58.71mn against QR2.7mn the previous day.
The Arab institutions were seen net buyers to the tune of QR0.03mn compared with no major net exposure on Sunday.
However, the domestic funds’ net selling expanded considerably to QR154.24mn against QR50.33mn on March 20.
Qatari individuals turned net sellers to the extent of QR16.88mn compared with net buyers of QR4.4mn the previous day.
The Arab individuals were net sellers to the tune of QR8.75mn against net buyers of QR15.36mn on Sunday.
The foreign individuals’ net profit booking rose perceptibly to QR1.25mn compared to QR0.07mn on March 20.
The Gulf individuals’ net buying eased marginally to QR0.9mn against QR1.35mn the previous day.
Total trade volume in the main market fell 17% to 205.16mn shares, while value rose 10% to QR689.34mn and transactions by 36% to 17,617.
The real estate sector reported a 52% plunge in trade volume to 23.7mn equities, 34% in value to QR38mn and 1% in deals to 1,579.
The industrials sector’s trade volume plummeted 43% to 65.14mn stocks, value by 43% to QR184.24mn and transactions by 18% to 3,784.
However, the telecom sector’s trade volume more than doubled to 4.04mn shares and value more than doubled to QR13.48mn on more-than-quadrupled deals to 1,029.
The market witnessed a 42% surge in the consumer goods and services sector’s trade volume to 58.94mn equities, 4% in value to QR93.75mn and 15% in transactions to 1,890.
The banks and financial services sector’s trade volume soared 35% to 47.84mn stocks and value more than doubled to QR337.94mn on more than doubled deals to 8,597.
There was a 13% expansion in the insurance sector’s trade volume to 2.6mn shares and 35% in value to QR9.4mn on flat transactions at 310.
The transport sector’s trade volume was up 1% to 2.9mn equities, while value was down 9% to QR12.53mn despite 1% higher deals at 428.
In the venture market, trade volumes almost tripled to 0.11mn stocks and value more than tripled to QR1.16mn on a 74.07% jump in transactions to 47.