By Santhosh V. Perumal

Business Reporter

Reversing the strong bearish spell of the previous two days, Qatar Stock Exchange yesterday opened the week on a stronger note, aided by foreign institutions’ buying support.

About 79% of the stocks returned gains and as much QR11bn in capitalisation was added as the 20-stock Qatar Index (based on price data) rose 1.59% to 13,147.9 points.

An across-the-board buying – particularly in the realty, consumer goods and banking – was visible in the market, which is up 26.67% year-to-date.

The index that tracks Shariah-principled stock was seen gaining slower than the other indices in the bourse, where trading volume was largely skewed towards banking and real estate stocks.

The Total Return Index rose 1.59% to 19,609.81 points, All Share Index by 1.58% to 3,334.23 points and Al Rayan Islamic Index by 1.37% to 4,424.09 points.

Market capitalisation expanded 1.56% to QR710.28bn with mid, large, small and micro cap equities gaining 1.69%, 1.53%, 1.37% and 0.98% respectively.

Realty stocks appreciated 2.05%, consumer goods (1.67%), banks and financial services (1.57%), industrials (1.51%), transport (1.46%), insurance (1.43%) and telecom (0.73%).

Major gainers included QNB, Industries Qatar, Mazaya Qatar, Barwa, Ooredoo, Qatar Islamic Bank, Commercial Bank, Doha Bank, Ezdan, United Development Company and Nakilat.

However, Zad Holding, Qatar National Cement, Mannai Corporation and Vodafone Qatar bucked the trend.

Ezdan and Masraf Al Rayan continued to be the most active in terms of volume and value.

Foreign institutions turned net buyers to the tune of QR78.42mn against net selling of QR106.67mn the previous trading day.

However, domestic institutions turned net sellers to the extent of QR68.91mn compared with net buyers of QR57.5mn last Thursday.

Qatari retail investors were net profit takers to the tune of QR7.09mn against net buyers of QR38.28mn on October 16.

Non-Qatari individual investors were net sellers to the extent of QR2.42mn compared with net buyers of QR10.88mn the previous trading day.

Total trade volume fell 23% to 11.02mn shares, value by 25% to QR576.62mn and transactions by 22% to 5,890.

The insurance sector’s trade volume plummeted 41% to 0.2mn equities, value by 48% to QR14.65mn and deals by 29% to 150.

The real estate sector saw its trade volume plunge 35% to 3.72mn stocks, value by 34% to QR80.79mn and transactions by 22% to 1,135.

The industrials sector’s trade volume declined 28% to 1.34mn shares, value by 31% to QR137.64mn and deals by 28% to 1,701.

The market witnessed 24% shrinkage in the telecom sector’s trade volume to 1.22mn equities, 15% in value to QR34.94mn and 13% in transactions to 434.

The banks and financial services sector’s trade volume reported 17% fall to 2.93mn stocks, 22% in value to QR237.34mn and 16% in deals to 1,718.

However, the transport sector’s trade volume more than doubled to 0.62mn shares and value also more than doubled to QR24.71mn but transactions were down 7% to 227.

The consumer goods sector’s trade volume was up 1% to 0.99mn equities; while value shrank 32% to QR46.56mn and deals by 26% to 525.

In the debt market, there was no trading of treasury bills and government bonds.