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Tribune News Network
Qatari stocks regained upward momentum as foreign institutional investors went on buying spree on Monday.
The Qatar Stock Exchange (QSE) index gained 55.80 points, or 0.56 percent, to close at 10,056.95 points on Monday.
Foreign institutional investors remained bullish throughout the day that saw the QSE’s market capitalisation rise almost QR4 billion to QR597.425 billion.
The foreign institutional investors remained net buyers at the end of the trade and accounted for 22.63 percent of the total buy for the day.
The volume of shares traded decreased to 228.8 million on Monday from 410.846 million in the previous session and the value of shares decreased to QR421.86 million from QR530.52 million on Sunday.
Indices of six sectors closed in the positive territory, while one sector closed in the red.
The QSE Total Return Index gained 0.56 percent to close at 19,334.15 points. QSE Al Rayan Islamic Index increased 0.36 percent to close at 4,224.14 points. QSE All Share Index added 0.63 percent to close at 3,125735 points.
Most of the stocks on the index were in the positive territory including Qatar National Bank (QNB) which advanced 1.3 percent.
On Sunday, the Gulf’s largest lender fell 1.7 percent when it reported a roughly 18 percent decline in its third-quarter profit as it booked more loan loss provisions amid global economic uncertainty.
The All Share Insurance Index, which gained 2.5 percent, was the best performing sector index for the day.
All Share Banks and Financial Services Index was the second-best performer for the day.
Meanwhile, most Gulf stock markets ended higher on Monday with gains.
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