An across the board buying – especially in insurance, real estate, telecom, transport and consumer goods – placed the 20-stock Qatar Index at 8,522.83 points.
"The market approached the strong support level at 7,500 points before seeing some gains and eyes now have shifted towards the horizontal line at 8,200 points, which if broken would anticipate further upward correction to 8,375 points and may be more to 8,660 points," Kamco analysts said earlier.
Increased buying support from foreign funds and the bullish outlook of domestic funds as well as non-Qatari individuals gave the thrust to the market, which pared year-to-date losses to 18.34%.
Islamic equities were seen gaining slower than the other indices in the bourse, whose capitalisation expanded 4.28% to QR472.84bn.
Trade turnover fell amidst higher volumes in the market, where banking, industrials and telecom sectors together accounted for about 67% of the total volume.
The Total Return Index soared 3.79% to 14,292.29 points, All Share Index by 4.53% to 2,460.89 points and Al Rayan Islamic Index by 3.56% to 3,347.8 points.
The insurance index shot up 8.27%, realty (7.1%), telecom (6.06%), transport (4.86%), consumer goods (3.84%), banks and financial services (3.51%) and industrials (3.27%).
Major gainers included Qatar Insurance, QNB, Mazaya Qatar, Ezdan, Industries Qatar, Nakilat, Aamal Company, Ooredoo, Vodafone Qatar, Doha Bank, Masraf Al Rayan, Qatar First Bank, Dlala, Woqod, Qatar Electricity and Water and Islamic Holding Group.
Non-Qatari institutions’ net buying increased influentially to QR51.39mn compared to QR28.67mn on December 14.
Domestic funds turned net buyers to the tune of QR24.46mn against net sellers of QR19.56mn the previous trading day.
The Gulf institutions’ net buying strengthened perceptibly to QR8.35mn compared to QR6.6mn last Thursday.
Non-Qatari retail investors were net buyers to the tune of QR3.43mn against net sellers of QR7.01mn on December 14.
However, local individuals’ net selling rose substantially to QR87.67mn compared to QR8.95mn the previous trading day.
The Gulf retail investors’ net buying declined marginally to QR0.12mn against QR0.2mn last Thursday.
Total trade volume grew 31% to 20.01mn shares, while value was down 4% to QR390.18mn despite 34% higher deals to 6,743.
The telecom sector’s trade volume more than doubled to 4.36mn equities but on 5% fall in value to QR41.76mn and 39% in transactions to 432.
The industrials sector’s trade volume expanded 49% to 4.49mn stocks, while value was down 7% to QR74.76mn but on 67% increase in deals to 1,857.
The banks and financial services sector saw 39% surge in trade volume to 4.55mn shares, 3% in value to QR156.02mn and 68% in transactions to 2,111.
The transport sector’s trade volume expanded 33% to 1.56mn equities, value by 29% to QR37.7mn and deals by 58% to 560.
There was 6% increase in the consumer goods sector’s trade volume to 1.1mn stocks, 56% in value to QR20.2mn and 59% in transactions to 487.
However, the insurance sector’s trade volume plummeted 61% to 0.26mn shares, value by 58% to QR9.72mn and deals by 36% to 166.
The real estate sector reported 16% shrinkage in trade volume to 3.69mn equities and 20% in value to QR50.01mn but on 11% jump in transactions to 1,130.
In the debt market, there was no trading of treasury bills and sovereign bonds.
An across the board buying u2013 especially in insurance, real estate, telecom, transport and consumer goods u2013 placed the 20-stock Qatar Index at 8,522.83 points.
Qatar Stock Exchange on Tuesday saw all its 43 scrips appreciate in value to overall surge 311 points, its largest single-day gain since January 2016, and capitalisation add more than QR19bn.
