The Qatar Stock Exchange rallied for the fourth straight session to add another 67 points and inch near the 9,550 mark mainly on the back of buying support from foreign and domestic institutions.
Telecom and real estate stocks witnessed the maximum buying to lift the 20-stock Qatar Index 0.7% to 9,547.83 points.
However, non-Qatari individual investors turned bearish and there was increased net selling from their local counterparts in the market, where trading turnover and volumes were on the decline.
The buying interests of Gulf retail investors and institutions were seen weakening in the bourse, which is down 8.45% year-to-date.
Large and mid cap equities extended the maximum buying support to the market, where realty, telecom, consumer goods, banking and industrial sector together accounted for about 94% of the total trading volume.
Market capitalisation expanded 0.45%, or more than QR2bn, to QR509.44bn with large, mid and small cap equities gaining 0.69%, 0.21% and 0.04% respectively; whereas micro caps fell 0.73%.
The Total Return Index was up 0.7% to 14,840.72 points, the All Share Index by 0.54% to 2,533.33 points and the Al Rayan Islamic Index by 0.85% to 3,400.63 points.
Telecom stocks gained 2%, followed by realty (1.22%), banks and financial services (0.65%), transport (0.16%), consumer goods (0.06%) and industrials (0.02%); while insurance fell 0.27%.
About 56% of the traded stocks extended gains with major movers being Ooredoo, Vodafone Qatar, Ezdan, Mazaya Qatar, Qatar Islamic Bank, Doha Bank, Industries Qatar, Nakilat and Gulf Warehousing.
Nevertheless, Mesaieed Petrochemical Holding, Aamal Company, Commercial Bank, Alijarah Holding, Salam International Investment, Qatari Investors Group, Doha Insurance, Al Khaleej Takaful and Qatar Islamic Insurance bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR10.84mn against net sellers of QR10.84mn the previous day.
Domestic institutions were also net buyers to the extent of QR3.65mn compared with net sellers of QR16.28mn on Sunday.
However, non-Qatari individual investors turned net sellers to the tune of QR10.08mn against net buyers of QR12.68mn on January 31.
Local retail investors’ net profit booking strengthened to QR14.1mn compared to QR4.2mn the previous day.
The GCC (Gulf Cooperation Council) individuals’ net buying slackened to QR1.99mn against QR10.56mn on Sunday.
The GCC institutions’ net buying declined to QR7.69mn compared to QR8.13mn on January 31.
Total trade volume fell 23% to 8.78mn shares, value by 25% to QR237.22mn and deals by 18% to 4,219.
The market witnessed a 52% plunge in the industrials sector’s trade volume to 1.05mn equities, 30% in value to QR65.39mn and 32% in transactions to 801.
The banks and financial services sector’s trade volume plummeted 51% to 1.44mn stocks, value by 43% to QR54.74mn and deals by 33% to 981.
The real estate sector reported a 24% shrinkage in trade volume to 2.47mn shares, 29% in value to QR42.06mn and 23% in transactions to 846.
The consumer goods sector’s trade volume declined 8% to 1.6mn equities, value by 21% to QR32.67mn and deals by less than 1% to 661.
However, the insurance sector’s trade volume more than doubled to 0.18mn stocks, value soared 73% to QR8.63mn and transactions by 43% to 136.
There was a 67% surge in the telecom sector’s trade volume to 1.65mn shares, 70% in value to QR25.04mn and 36% in deals to 623.
The transport sector’s trade volume expanded 50% to 0.39mn equities and value by 30% to QR8.68mn; while transactions were down 6% to 171.
In the debt market, there was no trading of treasury bills and government bonds.