By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange (QSE) gained 117 points to inch near the 11,700 mark mainly on the back of strong buying interests of foreign institutions.

An across the board buying, particularly in the real estate and insurance counters, led the 20-stock Qatar Index surge 1.01% to 11,686.09 points on higher overall trade volumes.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, which is, however, down 4.88% year-to-date.

However, Gulf individual investors turned bearish and there was increased net selling pressure from local retail investors in the bourse, where trading was largely skewed towards the realty, banking and industrials sectors, which together constituted more than 67% of the trading volume.

Market capitalisation rose 0.97% or more than QR5bn to QR613.81bn with small, large and mid cap equities gaining 1.86%, 0.89% and 0.46% respectively.

The Total Return Index gained 1.01% to 18,164.35 points, All Share Index by 1.02% to 3,109.52 points and Al Rayan Islamic Index by 1.2% to 4,429.53 points.

Real estate stocks appreciated 1.73%, insurance (1.54%), banks and financial services (0.94%), consumer goods (0.91%), industrials (0.81%), telecom (0.38%) and transport (0.33%).

More than 71% of the traded stocks extended gains with major movers being QNB, Industries Qatar, Ezdan, Barwa, Vodafone Qatar, Nakilat, Qatar Islamic Bank, Commercial Bank, Gulf International Services, Aamal Company, Qatari German Company for Medical Devices and Widam Food; even ass Mazaya Qatar bucked the trend.

Non-Qatari institutions’ net buying strengthened to QR41.8mn compared to QR10.24mn the previous day.

The Gulf Cooperation Council (GCC) institutions were also net buyers to the tune of QR0.38mn against net sellers of QR2.42mn on Monday.

Domestic institutions’ net profit booking fell to QR2.92mn compared to QR7.96mn on October 5.

However, local retail investors’ net selling increased to QR19.21mn against QR1.4mn the previous day.

Non-Qatari individual investors’ net profit booking strengthened to QR14.68mn compared to QR1.55mn on Monday.

The GCC individual investors turned net sellers to the extent of QR3.33mn against net buyers of QR3.09mn on October 5.

Total trade volume rose 42% to 8.71mn shares, value by 48% to QR291.88mn and deals by 27% to 4,468.

The transport sector’s trade volume grew five-fold to 1mn equities and value by more than five-fold to QR23.92mn on 65% jump in transactions to 335.

The insurance sector’s trade volume doubled to 0.08mn stocks and value more than doubled to QR6.53mn on 60% expansion in deals to 83.

The industrials sector saw 70% surge in trade volume to 1.07mn shares, 75% in value to QR58.57mn and 40% in transactions to 1,131.

The real estate sector’s trade volume soared 57% to 3.49mn equities, value by 67% to QR81.65mn and deals by 30% to 922.

There was a 36% increase in the telecom sector’s trade volume to QR0.99mn stocks and 25% in value to QR17.32mn but on 21% shrinkage in transactions to 368.

The banks and financial services sector’s trade volume increased 19% to 1.31mn shares, value by 41% to QR84.44mn and deals by 65% to 1,263.

However, the market witnessed 37% slippage in the consumer goods sector’s trade volume to 0.77mn equities, 41% in value to QR19.45mn and 29% in transactions to 366.

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