Support for the purchase of foreign funds helps QSE cross 11,100 points

(MENAFN – Gulf Times) The Qatar Stock Exchange climbed above 11,100 points this week, mainly due to increased buying interest from foreign institutions.
Industry, telecommunications, insurance and banking counters saw above-average demand as the Qatar 20-stock index stood up 0.26% this week, which saw Nebras Power, a subsidiary of Qatar Electricity and Water Company, form a joint venture in Brazil as part of strengthening its regional aspirations in Latin America.
Weakening net selling pressure from local retail investors and national funds also played a role in the market this week, which saw Investing Holding Group, Gulf International Services (GIS), Salam International (SIL) and Vodafone Qatar find their place in the 20 actions. barometer, as of October 1.
More than 51% of traded components extended their gains this week, with the Qatar Financial Center Purchasing Managers Index pointing to growing optimism in Doha’s business environment, particularly in the non-energy private sector, in August.
Nonetheless, Gulf funds and individuals were seen as net sellers during the week, which saw Qatar witness a sharp monthly increase in building permits issued in August.
Arab individuals and institutions were also seen as net profit takers this week, which saw a total of 84,466 QATR exchange traded funds sponsored by Masraf Al Rayan and valued at QR 209,191 out of 18 transactions.
Foreigners were seen as net sellers this week, with a total of 79,705 Bank of Doha sponsored QETFs valued at QR 859,592 million for 11 transactions.
Market cap saw around QR 2 billion, or 0.26%, jump to QR 639.44 billion, mostly in small-cap segments this week, which saw industrials, consumer goods and services and banks together constitute about 88% of the total volume of trade.
The Total Return Index rose 0.26%, the All Share Index 0.31% and the All Islamic Index 0.28% this week, which saw no trading in sovereign bonds.
The industrial sector index rose 0.8%, telecommunications (0.74%), insurance (0.4%) and banking and financial services (0.28%). while transportation was down 0.66%, real estate (0.13%) and consumer goods and services (0.03%) this week, which saw no T-bill swaps.
Major players include Investment Holding Group, Qamco, Qatar General Insurance and Reinsurance, Qatar First Bank, Doha Insurance, QNB, Commercial Bank, SIL, Widam Food, GIS and Vodafone Qatar this week, which saw overall revenue decline in the midst of higher volumes.
Nonetheless, Al Khaleej Takaful, Qatari Investors Group, Al Khaliji, Dlala, Medicare Group, Ezdan and Nakilat were among the losers this week, which saw Al Khaleej Takaful, Investment Holding Group and Ooredoo join the Al Rayan Islamic Index.
The industrial sector accounted for 46% of the total volume of trade, consumer goods and services (23%), banking and financial services (19%), real estate (7%), telecommunications and transport (2% each ) and insurance (1% each) this week, which saw QLM join the QE All Share Index and the QE Insurance Index from October 1.
In value, the share of banks and financial services amounts to 37% of the total, manufacturers (34%), consumer goods and services (16%), real estate (5%), telecoms (4% ), transport (3%) and insurance (1%) this week.
Net purchases of foreign funds increased significantly to QR 151.22 million from QR 104.82 million in the week ended September 2.
The net sale of domestic funds weakened slightly to QR 96.4 million from QR 97.44 million a week ago.
Net profit bookings from Qatari individuals fell significantly to QR 24.98 million from QR 26.99 million the previous week.
However, Arab individuals became net sellers to the tune of QR 14.85 million against net buyers of QR 5.01 million in the week ended September 2.
Gulf institutions were net sellers of QR 6.75 million against net buyers of QR 10.27 million a week ago.
Foreign individuals became net sellers to the tune of QR 5.72 million against net buyers of QR 1.29 million the previous week.
Gulf individuals were net sellers of QR 2.31 million versus net buyers of QR 2.4 million in the week ended September 2.
Arab funds made net profit takers of QR 0.22 million against net buyers of QR 0.65 million a week ago.
Total trade volume increased 2% to 796.07 million shares, while value decreased 13% to QR1.72 billion and trades 4% to 42,356.
The banking and financial services sector saw a 14% increase in trading volume to 154.97 million shares, but a 15% decline in value to QR632.65 million and a 6% decline in trades to 14 095.
The transport sector’s trade volume increased by 8% to 15.68 million shares, the value by 9% to QR 56.08 million and transactions by 38% to 1,917.
There was a 3% increase in trade volume of the consumer goods and services sector to 181.08 million shares, but a 16% decrease in value to QR 266.54 million and 11% transactions at 5,780.
The industrial sector’s trade volume increased 2% to 363.65 million shares, while the value fell 8% to QR 592.15 million and transactions decreased 8% to 12,377.
However, the insurance industry reported a 27% drop in trading volume to 7.48 million shares, 28% in value to QR23.03 million, and 24% trading to 600.
Real estate trading volume fell 18% to 58.46 million shares, value 16% to QR82.07 million, and transactions 8% to 3,483.
The telecommunications sector saw a 4% contraction in trade volume to 14.74 million shares and 14% in value to QR 66.28 million, but a 25% jump in transactions to 4,104.

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