Strong buying, especially at the banking and transport counters, Wednesday lifted the Qatar Stock Exchange above 10,450 points.
Foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.73% higher at 10,457.56 points.
The weakened net selling pressure from local retail investors also helped the market, whose sensitive index is up 1.54% year-to-date.
Market capitalisation expanded about QR6bn, or more than 1%, to QR588.75bn mainly owing to mid and small cap segments.
Islamic equities were seen declining vis-à-vis gains in the main index in the market, where Gulf and domestic institutions turned net profit takers.
Trade turnover grew amidst lower volumes in the bourse, where the banking, real estate and industrials sectors together accounted for about 79% of the total volume.
The Total Return Index grew 0.73% to 19,242.8 points and the All Share Index by 0.88% to 3,195.14 points, while the Al Rayan Islamic Index (Price) declined 0.42% to 2,380.68 points.
The banks and financial services index shot up 1.79%, transport (0.78%), consumer goods (0.41%), insurance (0.31%), realty (0.25%) and telecom (0.16%); while consumer goods declined 0.45%.
Major gainers included QNB, Commercial Bank, Doha Bank, Nakilat, Al Khaliji, Woqod, Ezdan and Qatar Islamic Insurance; even as more than 52% of the traded constituents were in the red with major shakers being Qatar National Cement, Gulf International Services, United Development Company, Qatar Oman Investment, Salam International Investment and Qatari Investors Group.
Non-Qatari institutions’ net buying increased considerably to QR58.95mn against QR29.08mn on April 23.
Local retail investors’ net profit booking declined significantly to QR46.19mn compared to QR62.92mn on Tuesday.
However, non-Qatari individuals’ net selling grew influentially to QR6.11mn against QR4.07mn the previous day.
Gulf institutions turned net sellers to the tune of QR4.8mn compared with net buyers of QR26.49mn on April 25.
Domestic institutions were also net sellers to the extent of QR1.64mn against net buyers of QR11.53mn on |Tuesday.
Gulf individuals’ net profit booking expanded marginally to QR0.18mn compared to QR0.13mn the previous day.
Total trade volume fell 6% to 9.72mn shares, while value grew 11% to QR292.54mn and transactions by 11% to 5,146.
The insurance sector’s trade volume plummeted 53% to 0.17mn equities, value by 10% to QR6.08mn and deals by 14% to 196.
The banks and financial services sector saw a 30% plunge in trade volume to 3.44mn stocks but on 13% growth in value to QR154.16mn and 8% in transactions to 1,682.
The industrials sector’s trade volume tanked 17% to 2.08mn shares, value by 39% to QR48.16mn and deals by 19% 1,261.
There was a 12% fall in the telecom sector’s trade volume to 1.02mn equities but on a 4% jump in value to QR14.44mn and 49% in transactions to 466.
However, the realty sector’s trade volume almost tripled to 2.15mn stocks and value also almost tripled to QR30.83mn on more-than-doubled deals to 992.
The consumer goods sector reported a 52% surge in trade volume to 0.35mn shares and value almost tripled to QR25.11mn on a 1% increase in transactions to 286.
The transport sector’s trade volume soared 42% to 0.51mn equities, value by 53% to QR13.75mn and deals by 21% to 283.
In the debt market, there was no trading of treasury bills and sovereign bonds.