(MENAFN- The Peninsula) Qatar Exchange index gained 10.73 points, or 0.09 percent, when the bourse closed yesterday at 11,884.28 points compared to 11,873.55 points on Tuesday.
The market capitalisation increased to QR632.69bn compared with QR632.09bn registered on Tuesday.
The trading value decreased to QR187.59m with a volume of 4,339,932 shares from 2,964 transactions compared to QR208.28m with a volume of 5,593,728 shares from 3,586 transactions on Tuesday.
Indices of three sectors gained and four declined yesterday. Industries index advanced 0.55 percent to 3,870.59 points and Real Estate index edged up 0.11 percnetto 2,677.37 points.
Insurance index dropped 0.89 percent to 4,710.15 points.
The Total Return Index gained 0.09 percent (18,468.78 points). Al Rayan Islamic Index gained 0.19 percent (4,632.18 points) and QSE All Share Index gained 0.09 percent (3,183.48 points).
Meanwhile, most other regional stock markets edged up yesterday after oil prices jumped, but the approach of the holy month of Ramadan limited gains because trading activity usually drops sharply during this period.
Saudi Arabia's main index closed nearly flat as stocks were mixed. Alinma Bank and Saudi Basic Industries, the two most heavily traded stocks, both fell 0.3 percent.
However, leading retail bank Al Rajhi, which could benefit from an anticipated US interest rate hike later this year, rose 1.2 percent as investors awaited a statement from the US Federal Reserve later in the day after its policy meeting.
Saudi Arabia's peg to the US dollar means it has to follow US interest rate moves. A large proportion of bank deposits in Saudi Arabia bear no interest, so higher rates could boost lenders' margins. However, they could also slow loan growth so investors are being highly selective in buying banking shares.
Saudi Arabia opened its market to direct foreign investment this week, and some local investors had hoped this would energise stocks despite the approach of Ramadan, which begins tomorrow.
But modest volumes in the first three days of trade after the opening indicate foreigners have been slow to buy stocks. The latest exchange data showed no fresh, significant purchases by licensed foreign investors on Tuesday.
"It seems few (foreign institutions) are interested in or able to get qualified foreign investor status in Saudi Arabia," said Ilya Feygin, managing director at New York-based WallachBeth Capital.
Current high valuations for Saudi stocks and a requirement for same-day settlement of trades mean many foreigners are in no rush to enter Saudi Arabia. Many of those who do want to buy Saudi equities are content for now to continue doing so indirectly through channels such as participatory notes.
Dubai's main stock index edged up 0.2 percent yesterday. Almost a third of traded value was in Dubai Parks and Resorts, which surged as much as five percent to a record high of 1.26 dirhams before trimming its gain to 1.7 percent.
The stock had jumped 2.6 percent on Tuesday, even though the company, which is building several theme parks, made no announcements and does not expect to make a profit until 2018.
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