Taking cue from the rebound in global oil market, Qatar Stock Exchange on Monday gained 141points for the fifth consecutive session to surpass the 10,300 mark with ease.

Realty and industrials counters witnessed heavy demand to lift the 20-stock Qatar Index 1.38% to 10,328.76 points.

Domestic institutions turned bullish and there was also increased buying support from their Gulf counterparts in the bourse, whose year-to-date losses were contained at less than 1%.

Oil market surged to one-and-a-half year high as the world oil producers agreed to a total 1.2mn production cut, as decided at the November 30 meeting of the Organisation of the Petroleum Exporting Countries.

Trade turnover and volumes were on the increase in the market, where real estate, banking, industrials and telecom sectors together accounted for about 94% of the total volume.

Buying interests were squarely visible within the large segments in the bourse, which however saw foreign institutions turn bearish and increased net profit booking by local retail investors.

Market capitalisation expanded more than QR7bn or 1.29% to QR554.88bn as large, small, micro and midcap equities added 1.35%, 0.71%, 0.37% and 0.18% respectively.

The Total Return Index gained 1.38% to 16,711.25 points, All Share Index by 1.18% to 2,837.09 points and Al Rayan Islamic Index by 1.25% to 3,831.55 points.

Real estate sector saw its index vault 1.99%, industrials (1.68%), banks and financial services (1.35%), transport (0.93%) and consumer goods (0.3%); whereas telecom and insurance fell 1.33% and 0.45% respectively.

About 67% of the traded stocks extended gains with major movers being QNB, Industries Qatar, Mazaya Qatar, Ezdan, Gulf International Services, Mesaieed Petrochemical Holding, Aamal Company, Qatar Electricity and Water, Vodafone Qatar, Qatar Islamic Bank, Commercial Bank, United Development Company and Nakilat.

Nevertheless, Ooredoo, Qatar Insurance, Qatari Investors Group and Islamic Holding Group saw their stocks lose sheen.

Domestic institutions turned net buyers to the tune of QR23.12mn compared with net sellers of QR24.88mn on December 11.

The GCC (Gulf Cooperation Council) institutions’ net buying increased to QR40.8mn against QR31.34mn the previous day.

However, non-Qatari institutions turned net sellers to the extent of QR10.39mn compared with net buyers of QR28.56mn on Sunday.

Local retail investors’ net profit booking strengthened to QR47.36mn against QR35.12mn on December 11.

Non-Qatari individual investors’ net selling increased to QR6.12mn compared to QR0.23mn the previous day.

The GCC individual investors turned net sellers to extent of QR0.04mn against net buyers of QR0.3mn on Sunday.

Total trade volume rose 48% to 14.95mn shares, value by 34% to QR449.8mn and deals by 29% to 5,916.

The industrials sector’s trade volume more than doubled to 3.25mn equities and value also more than doubled to QR141.79mn on 43% rise in transactions to 1,422.

The real estate sector reported 54% surge in trade volume to 4.96mn stocks, 35% in value to QR83.19mn and 52% in deals to 1,145.

The telecom sector’s trade volume soared 52% to 2.56mn shares but value fell 4% to QR46.52mn. Transactions gained 29% to 605.

There was 25% increase in the insurance sector’s trade volume to 0.3mn equities but on 31% decline in value to QR12.89mn. Deals more than doubled to 256.

The transport sector’s trade volume expanded 23% to 0.38mn stocks, value by 9% to QR11.63mn and transactions by 2% to 219.

The banks and financial services sector’s trade volume shot up 15% to 3.26mn shares, value by 17% to QR139.64mn and deals by 22% to 1,939.

However, the market witnessed 38% plunge in the consumer goods sector’s trade volume to 0.25mn equities, 32% in value to QR14.14mn and 25% in transactions to 330.

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

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