Strong buying interests of foreign institutions on Monday imparted sufficient thrust to the Qatar Stock Exchange, whose key sensitive index surpassed 9,400 levels.
Industrials and telecom counters witnessed stronger demand as the 20-stock Qatar Index settled 1.06% higher at 9,439.97 points.
Doha Bank-sponsored exchange traded fund QETF saw 0.65% gains.
Islamic stocks were seen underperforming the other indices on the market, which reported 10.75% gains year-to-date.
However, local and non-Qatari retail investors as well as domestic funds turned bearish on the bourse, whose capitalisation grew 1.19% to QR515.2bn, mainly on account of large caps.
Trade turnover and volumes were on the increase in the market, where telecom and banking sectors together accounted for more than 64% of the total volume.
The Total Return Index gained 1.06% to 16,632.17 points, All Share Index by 0.98% to 2,721.18 points and Al Rayan Islamic Index (Price) by 0.85% to 2,312.59 points.
The industrials index soared 2.46%, telecom (1.35%), realty (0.79%), banks and financial services (0.61%), insurance (0.38%) and consumer goods (0.3%); while transport declined 0.24%.
More than 58% of the stocks extended gains with major movers being Industries Qatar, Vodafone Qatar, QNB, Ahlibank, Qatar Electricity and Water, Qatar First Bank, Qatar Insurance, Ezdan, Mazaya Qatar and Widam Food; whereas Commercial Bank, Gulf International Services, Mesaieed Petrochemical Holding, Nakilat, Zad Holding and al khaliji were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR65.7mn against net sellers of QR5.78mn the previous day.
The Gulf institutions’ net profit booking declined considerably to QR4.42mn compared to QR9.2mn on July 15.
However, local retail investors turned net sellers to the extent of QR36.48mn against net buyers of QR6.37mn on Sunday.
Domestic institutions were also net sellers to the tune of QR16.3mn compared with net buyers of QR6.92mn the previous day.
Non-Qatari individual investors turned net sellers to the extent of QR8mn against net buyers of QR1.44mn on July 15.
The Gulf individuals were also net profit takers to the tune of QR0.5mn compared with net buyers of QR0.23mn on Sunday.
Total trade volume grew 55% to 7.48mn shares, value by 99% to QR217.91mn and transactions by 68% to 3,057.
The telecom sector’s trade volume more than tripled to 3.54mn equities and value more than doubled to QR38.4mn but on 6% fall in deals to 438.
The industrials sector’s trade volume soared 53% to 0.75mn stocks and value more than tripled to QR45.21mn on more than doubled transactions to 752.
There was 44% surge in the real estate sector’s trade volume to 0.85mn shares, 61% in value to QR12.11mn and 35% in deals to 312.
The consumer goods sector’s trade volume shot up 36% to 0.19mn equities, value by 25% to QR18.06mn and transactions by 56% to 241.
The insurance sector saw 22% expansion in trade volume to 0.39mn stocks, 25% in value to QR13.98mn and 73% in deals to 154.
The banks and financial services sector’s trade volume was up 4% to 1.27mn shares and value almost tripled to QR78.39mn on more than doubled transactions to 914.
However, the market witnessed 52% plunge in the transport sector’s trade volume to 0.49mn equities and 36% in value to QR11.76mn but on 27% growth in deals to 246.
In the debt market, there was no trading of treasury bills and sovereign bonds.