Foreign institutions' increased buying support on Monday lifted the Qatar Stock Exchange near 10,600 levels, reflecting the eased tensions in the region.
Insurance, banking and consumer goods counters witnessed higher-than-average demand as the 20-stock Qatar Index settled 0.56% or 59 points higher at 10,567.61 points.
The Gulf institutions were seen bullish in the market, which is up 1.36% year-to-date.
Market capitalisation saw more than QR4bn or 0.74% increase to QR588.6bn mainly owing to small and microcap segments.
Islamic stocks were seen gaining slower than the other indices on the bourse, where local retail investors were increasingly bearish and domestic funds turned net profit takers.
Trade turnover and volumes were on the increase on the bourse, where banking, industrials and real estate sectors together accounted for more than 81% of the total volume.
The Total Return Index rose 0.56% to 19,445.29 points, All Share Index by 0.71% to 3,140.94 points and Al Rayan Islamic Index (Price) by 0.24% to 2,322 points.
The insurance index soared 1.78%, banks and financial services (1.01%), consumer goods (0.87%) and transport (0.48%); whereas real estate declined 0.16%, industrials (0.09%) and telecom (0.03%).
More than 62% of the traded stocks extended gains with major movers QNB, Doha Bank, Ahlibank Qatar, Qatari German Company for Medical Devices, Woqod, Mannai Corporation, Salam International Investment, Qatari Investors Group, Qatar Electricity and Water, Qatar Insurance, Al Khaleej Takaful, Vodafone Qatar, Nakilat and Qatar General Insurance and Reinsurance; while Qatar Oman Investment, Milaha, Industries Qatar and Gulf International Services were among the losers.
Non-Qatari funds’ net buying increased substantially to QR71.19mn compared to QR18.89mn on January 12.
The Gulf institutions turned net buyers to the tune of QR3.31mn against net sellers of QR1.93mn the previous day.
However, local retail investors’ net selling enhanced noticeably to QR40.22mn compared to QR31.25mn on Sunday.
Domestic institutions turned net sellers to the extent of QR26.29mn against net buyers of QR16.11mn on January 12.
Non-Qatari individuals’ net selling grew perceptibly to QR6.92mn compared to QR1.27mn the previous day.
The Gulf individual investors’ net profit booking expanded marginally to QR1.1mn against QR0.56mn on Sunday.
Total trade volumes more than doubled to 120.27mn shares and value also more than doubled to QR298.36mn on almost doubled transactions to 5,937.
The transport sector’s trade volume grew more than seven-fold to 9.48mn equities and value by almost seven-fold to QR36.21mn on more than doubled deals to 216.
The industrials sector’s trade volume more than quadrupled to 29.77mn stocks and value almost quadrupled to QR44.89mn on more than doubled transactions to 985.
The banks and financial services sector’s trade volume more than doubled to 48.37mn shares and value also more than doubled to QR156.92mn on more than doubled deals to 2,327.
The real estate sector reported 52% surge in trade volume to 19.33mn equities, 87% in value to QR21.33mn and 82% in transactions to 498.
However, the telecom sector’s trade volume plummeted 51% to 2.68mn stocks, value by 16% to QR11.45mn and deals by 9% to 492.
The insurance sector saw 43% plunge in trade volume to 1.41mn shares, 42% in value to QR3.25mn and 22% in transactions to 119.
The consumer goods sector’s trade volume was down 3% to 9.24mn equities but value shot up 27% to QR24.31mn on more than doubled deals to 1,300.
In the debt market, there was no trading of sovereign bonds and treasury bills.