Foreign institutions’ increased buying interests along with bullish outlook from non-Qatari and Gulf individual investors steered the 20-stock Qatar Index up 0.31% to 10,159.66 points.
The bullish momentum came amidst rebound in global oil prices, which touched four-month high of about $43 a barrel on renewed hopes of production freeze at April 17 Doha meeting of members of Organisation of the Petroleum Exporting Countries (Opec) and non-Opec.
The Gulf institutions’ bullish grip also helped maintain the positive rally in the market, which is however down 2.59% year-to-date.
However, local retail investors turned bearish and there was increased net profit booking by domestic institutions in the bourse, where trading turnover and volumes were on the rise.
The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where banking, realty and telecom stocks together constituted about three-fourth of the total trading volume.
Market capitalisation rose 0.31% or about QR2bn to QR543.56bn with mid, micro and small cap equities gaining 0.94%, 0.93% and 0.68% respectively; even as large caps were down 0.07%.
The Total Return Index gained 0.31% to 16,372.21 points, All Share Index by 0.36% to 2,830.6 points and Al Rayan Islamic Index by 0.98% to 4,002.68 points.
Consumer goods stocks appreciated 1.18%, insurance (1.11%), real estate (0.64%), banks and financial services (0.32%), industrials (0.14%) and transport (0.01%); while telecom fell 0.76%.
About 61% of the stocks extended gains with major movers being Alijarah Holding, Barwa, Vodafone Qatar, QNB, Medicare Group, Aamal Company, Mesaieed Petrochemical Holding, Qatar Insurance, Mazaya Qatar and United Development; even as Ooredoo, Gulf Warehousing, Commercial Bank and Doha Insurance bucked the trend.
Non-Qatari institutions’ net buying strengthened to QR15.18mn compared to QR10.44mn on Sunday.
The GCC (Gulf Cooperation Council) institutions turned net buyers to the tune of QR8.02mn against net sellers of QR0.33mn on April 10.
Non-Qatari individual investors were also net buyers to the extent of QR4.38mn compared with net sellers of QR0.04mn the previous day.
The GCC individual investors turned net buyers to the tune of QR2.1mn against net profit takers of QR2.09mn on Sunday.
However, local retail investors turned net sellers to the extent of QR8.21mn compared with net buyers of QR3.33mn on April 10.
Domestic institutions’ net profit booking strengthened to QR21.51mn against QR11.31mn the previous day.
Total trade volume more than doubled to 13.2mn shares, value soared 69% to QR374.71mn and deals by 57% to 5,912.
The real estate sector’s trade volume almost quadrupled to 3.13mn equities and value more than tripled to QR50.17mn on 88% jump in transactions to 780.
The telecom sector’s trade volume more than doubled to 2.22mn stocks, value gained 30% to QR36.55mn and deals by 66% to 842.
The consumer goods sector’s trade volume more than doubled to 1.51mn shares and value also more than doubled to QR93.43mn on almost doubled transactions to 862.
The transport sector’s trade volume more than doubled to 0.73mn equities and value almost doubled to QR27.17mn on 81% expansion in deals to 483.
The banks and financial services sector saw 88% surge in trade volume to 4.52mn stocks, 47% in value to QR119.56mn and 61% in transactions to 1,884.
However, the insurance sector’s trade volume declined 11% to 0.08mn shares but value rose 31% to QR4.97mn and deals by 16% to 101.
The market witnessed 6% decline in the industrials sector’s trade volume to 1.02mn equities and 2% in value to QR42.87mn but on 9% increase in transactions to 960.
In the debt market, there was no trading of treasury bills and government bonds.
