Last week’s oil price rebound on reports suggesting possible production cut by oil producers had positively affected Qatar Stock Exchange, which on Sunday opened the week with 209 points addition to inch near the 9,500 mark and its capitalisation gained QR12bn to cross the QR507bn with ease.

An across the board buying – notably in the real estate, banking, industrials and consumer goods sectors – led the 20-stock Qatar Index surge 2.26% to 9,481.3 points.

Non-Qatari individual investors turned bullish and there was increased net buying from their Gulf counterparts in the market, where trading turnover and volumes were however on the decline.

Local retail investors’ substantially weakened net selling also helped maintain bullish momentum for the third straight session in the market, which is down 9.09% year-to-date.

However, foreign institutions turned bearish and there was increased net profit booking by their domestic counterparts in the bourse, where realty, banking and industrial sector together accounted for more than 88% of the total trading volume.

Market capitalisation expanded 2.39% to QR507.14bn.

The Total Return Index shot up 2.26% to 14,737.32 points, All Share Index by 2.47% to 2,519.72 points and Al Rayan Islamic Index by 3.33% to 3,371.86 points.

Consumer goods stocks soared 5.98%, real estate (5.71%), transport (3.12%), industrials (2.62%), telecom (1.2%), banks and financial services (1.01%) and insurance (0.64%).

As much as 85% of the stocks extended gains with major movers being Industries Qatar, Mesaieed Petrochemical Holding, Aamal Company, Ezdan, Vodafone Qatar, Ooredoo, Qatar Islamic Bank, Commercial Bank, QIIB, Milaha, Nakilat, Woqod, Qatar General and Reinsurance and Qatar Islamic Insurance; even as Qatar Insurance, Doha Bank and Dlala bucked the trend.

Non-Qatari individual investors turned net buyers to the tune of QR12.68mn compared with net sellers of QR1.35mn on January 28.

The GCC (Gulf Cooperation Council) individuals’ net buying strengthened to QR10.56mn against QR1.23mn the previous day.

Local retail investors’ net profit booking weakened perceptibly to QR4.2mn compared to QR72.15mn last Thursday.

However, non-Qatari institutions turned net sellers to the tune of QR10.84mn against net buyers of QR56.67mn on January 28.

Domestic institutions’ net profit booking increased to QR16.28mn compared to QR0.63mn the previous day.

The GCC institutions’ net buying declined to QR8.13mn against QR16.19mn against last Thursday.

Total trade volume fell 6% to 11.38mn shares, value by 20% to QR316.16mn and deals by 2% to 5,138.

There was 67% plunge in the transport sector’s trade volume to 0.26mn equities, 60% in value to QR6.67mn and 73% in transactions to 182

The insurance sector’s trade volume plummeted 53% to 0.07mn stocks and value by 44% to QR4.99mn, while deals were up 6% to 95.

The market witnessed 28% shrinkage in the industrials sector’s trade volume to 2.17mn shares, 29% in value to QR93.52mn and 11% in transactions to 1,184.

The banks and financial services sector’s trade volume tanked 20% to 2.91mn equities, value by 40% to QR95.69mn and deals by 7% to 1,456.

However, the real estate sector reported 39% surge in trade volume to 3.25mn stocks, 55% in value to QR58.94mn and 55% in transactions to 1,100.

The consumer goods sector’s trade volume soared 38% to 1.74mn share and value by 88% to QR41.59mn on doubled deals to 663.

There was 6% increase in the telecom sector’s trade volume to 0.99mn equities, but on 25% fall in value to QR14.76mn and 17% in transactions to 458.

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