Foreign funds lift sentiments on QSE; Islamic index outperforms

The Qatar Stock Exchange yesterday gained more than 55 points on the back buying interests in banks, transport and real estate sectors.The foreign institutions were increasingly net buyers as the 20-stock Qatar Index gained 0.45% to 12,262.3 points, recovering from an intraday low of 12,100 points.More than 72% of the traded constituents extended gains in the market, whose year-to-date gains were at 5.47%.The domestic institutions’ weakened net selling also had its influence in the main bourse, whose capitalisation saw QR5.62bn or 0.83% jump to QR686.25bn, mainly on the back of midcap segments.The Islamic index was seen outperforming the other indices in the market, which saw a total of 0.12mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR1.22mn changed hands across 78 deals.Trade turnover and volumes were on the decrease in the main as well as venture market.The Arab individuals continued to be net buyers but with lesser intensity in the bourse, which saw no trading of sovereign bonds.The local retail investors continue to be net buyers but with lesser vigour in the main market, which saw no trading of treasury bills.The Total Return Index gained 0.45% to 25,117.17 points, the Al Rayan Islamic Index (Price) by 0.87% to 2,715.46 points and the All Share Index by 0.56% to 3,910.99 points.The transport sector index shot up 1.17%, real estate (1.11%), banks and financial services (0.73%), industrials (0.68%), telecom (02.7%) and consumer goods and services (0.25%); while insurance declined 4.28%. Major gainers in the main market included Mannai Corporation, Qatar General Insurance and Reinsurance, Qatar Cinema and Film Distribution, Aamal Company, Milaha, QNB, Masraf Al Rayan, Alijarah Holding, Ezdan and Mazaya Qatar. In the venture market, both Al Faleh Educational Holding and Mekdam Holding saw their shares appreciate in value.Nevertheless, Qatar Insurance, Doha Insurance, Nakilat, Doha Bank and Inma Holding were among the losers in the main market.The foreign institutions turned net buyers to the tune of QR16.81mn compared with net sellers of QR9.16mn on October 26.The foreign individuals’ net buying expanded perceptibly to QR8.75mn against QR7.65mn the previous day.The domestic institutions’ net selling decreased significantly to QR32.98mn compared to QR49.79mn on Wednesday. However, the Gulf institutions’ net profit booking grew noticeably to QR31.63mn against QR29.19mn on October 26.The Gulf individuals were net sellers to the extent of QR0.27mn compared with net buyers of QR0.2mn the previous day.Qatari individuals’ net buying weakened substantially to QR31.48mn against QR70.37mn on Wednesday.The Arab retail investors’ net buying eased notably to QR7.82mn compared to QR9.65mn on October 26.The Arab institutions had no major net exposure against net buyers to the extent of QR0.27mn the previous day.Total trade volume in the main market fell 22% to 165.45mn shares and value by 5% to QR638.46mn, while deals grew 11% to 23,744.The venture market saw a 25% shrinkage in trade volumes to 0.15mn equities and 22% in value to QR0.84mn but on 32% expansion in transactions to 62.