By Santhosh V Perumal/Business Reporter


Foreign institutions’ QR120mn net buying support yesterday lifted the Qatar Exchange after a three-day bearish spell and its index once again closed above the 11,200 mark.
Although domestic institutions went frantically into profit-booking, the 20-stock Qatar Index (based on price data) gained 0.65% to 11,243.35 points.
Insurance and banking stocks outperformed the major indices in the market, which is up 8.32% year-to-date.
Amidst an overall bullish momentum, the index that tracks Shariah-principled stocks slightly underperformed the other barometers.
The 20-stock Total Return Index rose 0.65% to 16,064.17 points, the All Share Index (with wider constituents) by 0.62% to 2,778.31 and the Al Rayan Islamic Index by 0.37% to 3,232.97.
All the three indices factored in dividend income as well.
Insurance stocks appreciated the maximum of 1.85%, followed by banks and financial services (0.92%), telecom (0.57%), transport (0.56%), real estate (0.3%) and industrials (0.21%). The consumer goods index was unchanged.
More than 56% of the stocks extended gains with influential movers being Industries Qatar, QNB, Ooredoo, Barwa, Qatar Islamic Bank, Masraf Al Rayan, Qatar Insurance Company and Nakilat.
However, Gulf International Services, United Development Company and Doha Insurance bucked the trend.
Market capitalisation rose 0.63%, or about QR4bn, to QR594.19bn. Large-cap equities rose about 1% and mid caps 0.42%; while small and micro caps fell 0.18% and 0.11% respectively.
Foreign institutions were net buyers to the tune of QR119.55mn compared with net sellers of QR14.16mn the previous day.
Domestic institutions’ net selling stood at QR101.16mn against QR4.78mn on Tuesday.
Qatari retail investors turned net sellers to the extent of QR18.07mn compared with net buyers of QR9.07mn the previous day.
Non-Qatari individual investors were also net sellers to the tune of QR0.32mn against net buyers of QR9.88mn on Tuesday.
Total trading volume was up 2% to 7.91mn stocks, while value fell less than 1% to QR450.62mn and transactions by 3% to 4,224.
The insurance sector’s trading volume more than tripled to 0.62mn equities and value almost quadrupled to QR32.69mn on more-than-doubled deals to 199.
The transport sector’s trading volume more than doubled to 1.44mn shares and value almost tripled to QR58.66mn but on 19% fall in transactions to 210.
The market witnessed a 42% surge in real estate sector’s trading volume to 1.41mn stocks, 62% in value to QR37.47mn and 20% in deals to 628.
The consumer goods sector’s trading volume rose 4% to 0.53mn equities, value by 15% to QR20.07mn and transactions by 37% to 361.
However, the telecom sector’s trading volume plummeted 59% to 0.68mn shares, value by 54% to QR35.76mn and deals by 47% to 347.
The banks and financial services sector reported a 19% drop in trading volume to 2.12mn stocks and 13% in value to QR132.19mn but on a 4% rise in transactions to 1,245.
The industrials sector saw its trading volume fall 3% to 1.11mn equities, value by 11% to QR133.79mn and deals by 10% to 1,234.
In the debt market, there was no trading of treasury bills and government bonds.

Saudi shares rise; most Gulf markets up on global cues

Saudi Arabia’s shares rose yesterday, buoyed by a recovery in global markets as investor focus returned to local fundamentals, while most other regional markets also gained.
Saudi Arabia’s index climbed 0.6%.
In the UAE, Abu Dhabi’s measure rose 1.6% to a 65-month high. Dubai’s benchmark slipped 0.3% after a choppy session in which it briefly touched a five-year high.
Elsewhere, Oman’s index slipped 0.4% to 7,117 points; while Kuwait’s measure rose 0.2% to 7,768 points.