Foreign and domestic funds on Monday propelled the Qatar Stock Exchange 110 points to take its benchmark near 10,000 levels.
Insurance, real estate and banking counters witnessed higher than average demand, leading the 20-stock Qatar Index settle 1.11% higher at 9,972.68 points.
However, local and Gulf individuals turned bearish in the market, whose sensitive index is down 3.17% year-to-date.
Market capitalisation expanded more than QR6bn or 1.15% to QR564.19bn mainly owing to large and midcap segments.
Islamic equities were seen gaining slower than the main index in the market, where non-Qatari individuals were increasingly profit takers.
Trade turnover and volumes were on the increase in the bourse, where realty, banking and industrials sectors together accounted for about 84% of the total volume.
The Total Return Index grew 1.11% to 18,111.04 points, Al Rayan Islamic Index (Price) by 0.9% to 2,340.7 points and All Share Index by 1.34% to 3,047.85 points.
The insurance index shot up 2.72%, telecom (2.72%), banks and financial services (1.57%), industrials (0.87%) and industrials (0.64%); whereas telecom and transport declined 1.07% and 0.59% respectively.
About 56% of the traded stocks extended gains with major movers being Qatar Insurance, Ezdan, United Development Company, Qatar Islamic Bank, Commercial Bank, QNB, Qatar Electricity and Water, Gulf International Services and Gulf Warehousing; even as Qatari German Company for Medical Devices, Salam International Investment, Al Meera, Mazaya Qatar, Ooredoo and Nakilat were among the losers.
Non-Qatari institutions’ net buying increased significantly to QR61.62mn compared to QR6.82mn on March 17.
Domestic institutions turned net buyers to the tune of QR40.8mn against net sellers of QR28.95mn the previous day.
However, local retail investors turned net sellers to the extent of QR91.02mn compared with net buyers of QR17.37mn on Sunday.
Non-Qatari individuals’ net profit booking strengthened noticeably to QR8.07mn against QR3.68mn on March 17.
The Gulf funds turned net sellers to the tune of QR3.13mn compared with net buyers of QR5.67mn the previous day.
The Gulf individuals were also net profit takers to extent of QR0.16mn against net buyers of QR2.77mn on Sunday.
Total trade volume rose 9% to 9.02mn shares, value by 67% to QR322.77mn and transactions by 21% to 5,808.
The banks and financial services sector’s trade volume soared 55% to 2.35mn equities and value almost quadrupled to QR150.83mn on 83% increase in deals to 1,343.
There was 15% surge in the real estate sector’s trade volume to 3.36mn stocks, 14% in value to QR50.77mn and 4% in transactions to 1,628.
However, the transport sector’s trade volume plummeted 52% to 0.29mn shares, value by 56% to QR10.2mn and deals by 3% to 241.
The insurance sector reported 21% plunge in trade volume to 0.48mn equities and 13% in value to QR16.87mn but on 38% expansion in transactions to 197.
The consumer goods sector’s trade volume declined 8% to 0.35mn stocks, whereas value shot up 47% to QR33.95mn and deals by 70% to 392.
The telecom sector saw 5% shrinkage in trade volume to 0.35mn shares but on 26% growth in value to QR6.39mn and 67% in transactions to 333.
The industrials sector’s trade volume was down 3% to 1.83mn equities, while value grew 35% to QR53.76mn despite 1% lower deals at 1,674.
In the debt market, there was no trading of treasury bills and sovereign bonds.