(MENAFN- Gulf Times) Qatar Stock Exchange opened the week on a stronger note, reversing the two days of bearish spell, lifted by real estate, telecom and banking stocks.
Foreign institutions' net buying support and increasingly bullish outlook of non-Qatari retail investors helped the 20-stock Qatar Index (based on price data) gain 0.45% to 11,916.42 points despite fall in trade volumes.
Local retail investors were however seen strong in profit booking and net buying support from domestic institutions weakened considerably in the bourse, which is, down 3.01% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the bourse, where realty and banking stocks corner more than 64% of the total trading volume.
Market capitalisation rose 0.35% or more than QR2bn to QR650.08bn with large and mid cap equities gaining 0.59% and 0.4%; while micro and small caps fell 0.49% and 0.48% respectively.
The Total Return Index rose 0.45% to 17,773.23 points, All Share Index by 0.33% to 3,057.65 points and Al Rayan Islamic Index by 0.77% to 4,012.02 points.
Real estate stocks appreciated 1.05%, telecom (0.68%), banks and financial services (0.6%) and consumer goods (0.08%); whereas transport plunged 1.49%, insurance (0.26%) and industrials (0.01%).
Major gainers included Barwa, Industries Qatar, Vodafone Qatar, Industries Qatar, Doha Bank and Masraf Al Rayan; while Gulf International Services, Mesaieed Petrochemical Holding, Gulf Warehousing and Nakilat bucked the trend.
Foreign institutions turned net buyers to the tune of QR32.57mn against net sellers of QR17.07mn the previous trading day.
Non-Qatari individual investors' net buying surged to QR8.56mn compared to QR3.59mn last Thursday.
However, Qatari retail investors' net profit booking soared to QR44.32mn against QR17.65mn on January 15.
Domestic institutions' net buying sunk to QR3.19mn compared to QR31.13mn the previous trading day.
Total trade volume fell 13% to 6.57mn shares; value by 25% to QR312.3mn and transactions by 14% to 4,519.
The banks and financial services reported 52% plunge in trade volume to 1mn stocks, 61% in value to QR59.86mn and 47% in deals to 920.
The industrials sector's trade volume plummeted 36% to 0.88mn equities, value by 38% to QR72.87mn and transactions by 5% to 1,384.
There was 33% shrinkage in the insurance sector's trade volume to 0.1mn shares, 23% in value to QR6.53mn and 47% in deals to 67.
The consumer goods sector's trade volume tanked 19% to 0.13mn stocks but value rose 38% to QR12.92mn. Transactions fell 19% to 177.
However, the transport sector's trade volume soared 25% to 0.7mn equities and value by 4% to QR25.52mn but deals shrank 17% to 287.
The real estate sector saw its trade volume surge 17% to 3.23mn shares, value by 37% to QR121.89mn and transactions by 21% to 1,263.
The telecom sector saw its trade volume expand 17% to 0.54mn stocks but value was down 1% to QR12.7mn. Deals grew 27% to 421.
In the debt market, there was no trading of treasury bills and government bonds.
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