An across-the-board buying — especially in banking and telecom — on Tuesday lifted the Qatar Stock Exchange whose key barometer inched towards 9,400 levels and capitalisation gained more than QR7bn.

The bullish outlook of foreign funds and the increased net buying interests of their Gulf counterparts led the 20-stock Qatar Index gain 1.41% to 9,395.81 points.

Both Masraf Al Rayan- and Doha Bank-sponsored exchange traded funds, QATR and QETF, were, however, down 0.68% and 0.54% respectively.

Islamic stocks were seen underperforming the other indices in the market, which reported 10.24% gains year-to-date.

However, local and Gulf retail investors as well as domestic institutions turned bearish on the bourse, whose capitalisation shot up 1.44% to QR512.08bn, mainly on large caps.

Trade turnover and volumes were on the increase on the market, where telecom alone accounted for more than 49% of the total volume.

The Total Return Index gained 1.41% to 16,554.37 points, All Share Index by 1.25% to 2,710.53 points and Al Rayan Islamic Index (Price) by 1.03% to 2,296.04 points.

The banks and financial services index rose 1.74%, telecom (1.41%), industrials (1.3%), transport (0.84%), insurance (0.52%), realty (0.35%) and consumer goods (0.2%).

More than 65% of the traded stocks extended gains with major movers being QNB, Industries Qatar, Ooredoo, Qatar Islamic Bank, Qatari Investors Group, Mesaieed Petrochemical Holding, Milaha, QIIB, Ahlibank and Medicare Group; even as Gulf International Services, Mazaya Qatar, Woqod, Salam International Investment, Dlala and Doha Bank were among the losers.

Non-Qatari institutions turned net buyers to the tune of QR43.27mn compared with net sellers of QR11.08mn on Monday.

The Gulf institutions’ net buying strengthened influentially to QR4.91mn against QR0.8mn the previous day.

However, local individuals turned net sellers to the extent of QR38.57mn compared with net buyers of QR3.46mn on July 9.

Domestic funds were also net profit takers to the tune of QR6.75mn against net buyers of QR7.48mn on Monday.

Non-Qatari individual investors’ net selling increased considerably to QR2.28mn compared to QR1.08mn the previous day.

The Gulf individuals turned net profit takers to the extent of QR0.61mn against net buyers of QR0.42mn on July 9.

Total trade volume grew 69% to 10.72mn shares, value by 95% to QR255.76mn and transactions by 44% to 3,711.

The consumer goods sector’s trade volume more than quadrupled to 0.45mn equities and value almost tripled to QR27.64mn on 89% increase in deals to 329.

The insurance sector’s trade volume more than tripled to 0.65mn stocks and value almost tripled to QR15.7mn on 84% jump in transactions to 284.

The real estate sector’s trade volume almost doubled to 1.29mn shares and value more than doubled to QR20.51mn on 63% expansion in deals to 499.

The telecom sector reported 77% surge in trade volume to 5.28mn equities to more than double value to QR69.96mn on 35% rise in transactions to 560.

The transport sector’s trade volume soared 30% to 0.6mn stocks, value by 58% to QR12.13mn and deals by 24% to 257.

The banks and financial services sector saw 28% surge in trade volume to 1.8mn shares, 64% in value to QR76.34mn and 29% in transactions to 994.

The industrials sector’s trade volume increased 27% to 0.65mn equities, value by 86% to QR33.47mn and deals by 42% to 788.

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