Investors’ demand for real estate and industrials equities on Tuesday sustained the bullish momentum in the Qatar Stock Exchange for the second straight session and its key index inched near the 10,250 levels.

Local retail investors’ net buying and substantially lower net selling by domestic institutions were instrumental in lifting the 20-stock Qatar Index 0.85% to 10,246.29 points.

The rally in the bourse comes in the wake of Brent touching this year’s high of more than $43 a barrel on multitude of factors, including hopes on production freeze (at April 17 Doha meeting), weak dollar and signs of increased expected demand from China.

Large and midcap equities witnessed some brisk buying in the market, which is however down 1.76% year-to-date.

However, Gulf and non-Qatari individual investors as well as Gulf institutions turned net sellers in the bourse, where trading turnover and volumes were on the rise.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where realty, industrials and banking stocks together constituted about 81% of the total trading volume.

Market capitalisation rose 0.71% or about QR4bn to QR547.44bn with large, mid, micro and small cap equities gaining 0.68%, 0.46%, 0.37% and 0.19% respectively.

The Total Return Index gained 1.26% to 16,577.81 points, All Share Index by 1.05% to 2,860.37 points and Al Rayan Islamic Index by 1.35% to 4,056.88 points.

Real estate stocks surged 3.35%, industrials (1.37%), banks and financial services (0.55%), consumer goods (0.24%), telecom (0.07%) and transport (0.02%); while insurance was down 0.48%.

More than 70% of the stocks extended gains with major movers being Industries Qatar, Gulf International Services, Aamal Company, Mazaya Qatar, Ezdan, United Development Company, Vodafone Qatar, QIIB, Islamic Holding Group, Dlala, Qatari German Company for Medical Devices, Salam International Investment, Widam Food and Nakilat; even as Ooredoo, Gulf Warehousing, Qatar Islamic Insurance and Medicare Group bucked the trend.

Local retail investors turned net buyers to the extent of QR26.42mn compared with net sellers of QR8.21mn on April 11.

Domestic institutions’ net profit booking weakened considerably to QR8.44mn against QR21.51mn the previous day.

However, non-Qatari institutions’ net buying weakened to QR10.48mn compared to QR15.18mn on Monday.

The GCC (Gulf Cooperation Council) institutions turned net sellers to the tune of QR21.4mn against net buyers of QR8.02mn on April 11.

Non-Qatari individual investors were also net sellers to the extent of QR6.85mn compared with net buyers of QR4.38mn the previous day.

The GCC individual investors turned net profit takers to the extent of QR0.25mn against net buyers of QR2.1mn on Monday.

Total trade volume rose 42% to 18.73mn shares, value by 33% to QR496.61mn and deals by 25% to 7,382.

The industrials sector’s trade volume more than tripled to 3.74mn equities and value more than doubled to QR122.6mn on 47% increase in transactions to 1,412.

The real estate sector’s trade volume more than doubled to 8.08mn stocks and value also more than doubled to QR133.19mn on more than doubled deals to 2,106.

The insurance sector’s trade volume gained 13% to 0.09mn shares but value was flat at QR4.97mn. Transactions rose 14% to 115.

The consumer goods sector saw 5% increase in trade volume to 1.58mn equities but on 16% fall in value to QR78.63mn. Deals soared 32% to 1,141.

However, the transport sector’s trade volume plummeted 42% to 0.42mn stocks, value by 24% to QR20.77mn and transactions by 33% to 324.

There was 33% plunge in the telecom sector’s trade volume to 1.48mn shares, 28% in value to QR26.47mn and 15% in deals to 717.

The banks and financial services sector’s trade volume tanked 26% to 3.34mn equities, value by 8% to QR109.98mn and transactions by 17% to 1,567.

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