(MENAFN - The Peninsula) Qatari institutional investors appear to be on a buying spree, as for the third straight trading day yesterday their net buying remained robust.
The bullish run pushed the stocks marginally up despite little net buying support coming from Qatari small and foreign institutional as well as retail investors.
The 20-share main index of the bourse (Qatar Exchange) surged by a slim margin of 24 points to 6,872.77. The market capitalisation inched up to cross the QR295bn-mark to QR296.47bn.
Four days of bullish phase on the bourse which was punctuated by a correction midway, improved the stocks in weekly trading as well. The index was up 165 points, or 2.46 percent, over the previous week to 6,873.
All the four sectors improved over the week with the services stocks leading the pack once again followed by industrial and banking stocks.
At least 28 of the 43 listed shares advanced at the close of weekly trading yesterday with a dozen shares falling and three remaining unchanged.
Ezdan Real Estate topped in terms of performance with an incredible 55 percent gain. Its share price rose more than QR11 over the week to QR31.30. The second largest gain was registered by Qatar Shipping at 18.31 percent. Qatar Islamic Bank was the topper in the lending sector with a six percent gain. Major losers over the week included Alkhaliji (bank) and National Leasing Company.
A highlight of last week's trading was that both the trading value and volumes fell but backed by a nine percent increase in the number of transactions concluded on the bourse, the index went up.
The market capitalization figure was also up, more than QR10bn over the week, or 3.77 percent, to breach the magical barrier of QR295bn once again. The figure soared closer to the QR300bn-mark at QR296.47bn.
Barwa Real Estate led in terms of trading value over the week with a 21.35 percent share in the total, followed by large cap and fundamentally formidable Industries Qatar (IQ) which accounted for a 12 percent share in the total.