The bullish outlook of domestic institutions and foreign funds’ increased buying interests on Thursday led the Qatar Stock Exchange gain more than 40 points.

The banks and telecom counters witnessed higher than average demand as the 20-stock Qatar Index settled 0.39% higher at 10,348.19 points.

Non-Qatari individuals turned net buyers in the market, whose sensitive index is up 0.48% year-to-date.

Market capitalisation expanded about QR2bn, or 0.34%, to QR579.35bn mainly owing to large cap segments.

Islamic equities were however seen gaining slower than the other indices in the market, where local retail investors continued to be net profit takers but with lesser intensity.

Trade turnover and volumes were on the decline in the bourse, where industrials, telecom and banking sectors together accounted for more than 83% of the total volume.

The Total Return Index grew 0.39% to 19,041.55 points, the All Share Index by 0.32% to 3,154.33 points and the Al Rayan Islamic Index (Price) by 0.25% to 2,411.89 points.

The banks and financial services index gained 1.13%, telecom (0.63%), consumer goods (0.21%) and transport (0.16%); whereas insurance declined 2.14%, real estate (0.61%) and industrials (0.45%).

Major movers included Qatar Islamic Bank, Commercial Bank, QNB, United Development Company, Vodafone Qatar, Gulf Warehousing and Qatar National Cement; even as Qatar Oman Investment, Industries Qatar, Zad Holding, Qatar Insurance, Qatari Investor Group, Gulf International Services, Mazaya Qatar and Barwa were among the losers.

Non-Qatari institutions’ net buying strengthened perceptibly to QR24.34mn compared to QR19.1mn on April 17.

Domestic institutions turned net buyers to the tune of QR15.42mn against net sellers of QR8.43mn the previous day.

Non-Qatari individuals were net buyers to the extent of QR1.97mn compared with net sellers of QR3.11mn on Wednesday.

Gulf individuals turned net buyers to the tune of QR0.07mn against net profit takers of QR0.99mn on April 17.

Local retail investors’ net selling weakened noticeably to QR42.46mn compared to QR49.55mn the previous day.

However, Gulf institutions’ net buying decreased significantly to QR43mn compared to QR14.06mn on Tuesday.

Total trade volume fell 31% to 12.34mn shares, value by 19% to QR234.3mn and transactions by 21% to 5,354.

The insurance sector’s trade volume plummeted 70% to 0.14mn equities, value by 66% to QR3.62mn and deals by 49% to 179.

There was a 48% plunge in the industrials sector’s trade volume to 4.26mn stocks, 45% in value to QR67.57mn and 33% in transactions to 2,071.

The realty sector’s trade volume tanked 42% to 1.3mn shares, value by 31% to QR17.69mn and deals by 24% to 690.

The transport sector reported a 41% shrinkage in trade volume to 0.17mn equities, 47% in value to QR4.27mn and 39% in transactions to 149.

The banks and financial services sector’s trade volume declined 33% to 2.85mn stocks, value by 1% to QR90.15mn and deals by 12% to 1,206.

The consumer goods sector saw a 20% contraction in trade volume to 0.44mn shares but on a 56% surge in value to QR23.73mn and 10% in transactions to 414.

However, the telecom sector’s trade volume soared 64% to 3.18mn equities, value by 59% to QR27.28mn and deals by 54% to 645.

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

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