Stronger buying support from Gulf and foreign institutions led Qatar Stock Exchange gain another 64 points to settle close to the 11,300 mark.

Telecom, industrials and banking stocks witnessed stronger demand, helping the 20-stock Qatar Index gain 0.57% to 11,261.51 points.

Islamic stocks were seen gaining slower than the conventional ones in the market, where trading turnover and volumes were on the upside.

Buying interests were squarely visible in the large cap segments in the bourse, which is up 7.98% year-to-date.

However, there was increased net selling pressure from local individual investors in the market, where banking, industrials and realty stocks together constituted about 78% of the total trading volume.

Market capitalisation rose 0.62% or about QR4bn to QR602.33bn as large cap stocks gained 0.76%; even as micro and small caps fell 0.34% and 0.07% respectively.

The Total Return Index gained 0.57% to 18,220.37 points, All Share Index by 0.49% to 3,089.29 points and Al Rayan Islamic Index by 0.46% to 4,229.69 points.

Telecom stocks appreciated 1.1%, industrials (0.93%), banks and financial services (0.58%), transport (0.13%), real estate (0.08%) and consumer goods (0.02%); while insurance was down 0.02%.

More than 51% of the stocks extended gains with major movers being Ooredoo, Industries Qatar, Aamal Company, QNB, Qatar Islamic Bank, Commercial Bank, Dlala, Barwa and United Development Company.

However, QIIBN, Mesaieed Petrochemical Holding, Gulf International Services, Ezdan, Mannai Corporation and Qatar First Bank were seen bucking the trend.

Non-Qatari institutions’ net buying strengthened to QR35.5mn compared to QR27.37mn the previous day.

The GCC (Gulf Cooperation Council) institutions’ net buying also increased to QR12.54mn against QR2.41mn on Sunday.

Domestic institutions’ net profit booking weakened to QR21.86mn compared to QR22.12mn on August 28.

The GCC individual investors’ net selling weakened slightly to QR0.46mn against QR0.53mn the previous day.

However, local retail investors’ net profit booking soared to QR25.96mn compared to QR7.67mn on Sunday.

Non-Qatari individual investors’ net buying was seen dropping to QR0.26mn against QR0.54mn on August 28.

Total trade volume rose 5% to 4.49mn shares, value by 11% to QR182.31mn and deals by 10% to 3,274.

The transport sector saw 44% surge in trade volume to 0.13mn equities, 53% in value to QR5.34mn and 43% in transactions to 171.

The consumer goods sector’s trade volume soared 44% to 0.23mn stocks; while value fell 20% to QR8.85mn. Deals grew 38% to 222.

There was 27% increase in the real estate sector’s trade volume to 0.99mn shares, 30% in value to QR20.75mn and 24% in transactions to 543.

The telecom sector’s trade volume expanded 20% to 0.55mn equities, value by 58% to QR34.6mn and deals by 11% to 454.

The banks and financial services sector saw 14% rise in trade volume to 1.3mn stocks but on 5% decline in value to QR58.23mn, while there was 15% jump in transactions to 954.

However, the insurance sector’s trade volume plummeted 30% to 0.07mn shares; while value rose 4% to QR6.62mn. Deals tanked 23% to 114.

The market witnessed 22% plunge in the industrials sector’s trade volume to 1.21mn equities but on 6% growth in value to QR47.91mn. Transactions were down 5% to 816.

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