By Santhosh V. Perumal/Business Reporter

Qatar Stock Exchange opened the week on a stronger note as its key index gained 31 points, mainly lifted by banking stocks.

Foreign institutions’ net selling weakened substantially and the Gulf institutions turned bullish, which helped the 20-stock Qatar Index gain 0.3% to 10,553.46 points amid fall in overall trading volumes.

However, local and non-Qatari retail investors turned bearish in the market, which is down 14.1% year-to-date.

The index that tracks Shariah-principled stocks, however, declined against gains in the other indices in the bourse, where trading was largely skewed towards the banking, transport and industrials sectors, which together constituted more than 76% of the volume.

Market capitalisation gained 0.43% or more than QR2bn to QR555.35bn with large and mid cap equities gaining 0.72% and 0.31%; while micro and small caps fell 0.89% and 0.51% respectively.

The Total Return Index rose 0.3% to 16,403.83 points and All Share Index by 0.25% to 2,815.55 points; while Al Rayan Islamic Index fell 0.27% to 3,949.16 points.

Banks and financial services stocks soared 1.06% and insurance 0.03%; while transport fell 0.4%, industrials (0.34%), consumer goods (0.29%), telecom (0.22%) and realty (0.16%).

About 59% of the stocks extended gains with major movers being QNB, Ahlibank, Aamal Company and Mesaieed Petrochemical Holding; even as Industries Qatar, Mazaya Qatar, Ezdan, Vodafone Qatar, Nakilat and Qatari German Company for Medical Devices bucked the trend.

Non-Qatari institutions’ net selling weakened considerably to QR9.08mn compared to QR44.14mn on November 26.

The GCC (Gulf Cooperation Council) institutions turned net buyers to the extent of QR1.9mn against net sellers of QR12.03mn last Thursday.

The GCC individual investors’ net selling declined to QR0.09mn compared to QR6.32mn the previous day.

However, local retail investors turned net sellers to the tune of QR7.04mn against net buyers of QR20.38mn on November 26.

Non-Qatari individual investors were also net profit takers to the extent of QR6.04mn compared with net buyers of QR3.14mn last Thursday.

Domestic institutions’ net buying decreased to QR20.34mn against QR38.98mn the previous day.

Total trade volume fell 31% to 2.65mn shares, value by 43% to QR109.94mn and deals by 38% to 2,175.

The insurance sector saw 50% plunge in trade volume to 0.04mn equities, 71% in value to QR1.52mn and 32% in transactions to 38.

The banks and financial services sector’s trade volume plummeted 43% to 0.85mn stocks, value by 48% to QR43.58mn and deals by 42% to 833.

There was 40% shrinkage in the real estate sector’s trade volume to 0.28mn shares, 45% in value to QR6.52mn and 22% in transactions to 193.

The industrials sector’s trade volume tanked 21% to 0.53mn equities, value by 47% to QR26.96mn and deals by 51% to 501.

The market witnessed 18% decline in the transport sector’s trade volume to 0.65mn stocks, 21% in value to QR18.66mn and 3% in transactions to 324.

The telecom sector’s trade volume fell 15% to 0.22mn shares, value by 37% to QR7.49mn and deals by 44% to 169.

However, the consumer goods sector saw 50% surge in trade volume to 0.09mn equities but on less than 1% fall in value to QR5.19mn. Transactions expanded 19% to 117.

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