Foreign institutions’ sustained increased buying on Wednesday lifted the Qatar Stock Exchange by 103 points to place its key index near 9,900 levels.

An across the board buying – particularly within transport, telecom, industrials and real estate – helped the 20-stock Qatar Index settle 1.05% higher at 9,878.34 points, although it touched a low of 9,747 points within the first 15 minutes of opening.

Domestic funds’ bullish outlook also helped the market, which is however down 5.25% year-to-date.

Market capitalisation saw about QR5bn or 0.86% jump to QR547.58bn mainly owing to mid and small cap segments.

Islamic stocks were seen gaining faster than the other indices on the bourse, where the Gulf individuals were increasingly net buyers.

Trade turnover and volumes were on the increase on the bourse, where banking and real estate sectors together accounted for more than 68% of the total volume.

The Total Return Index rose 1.05% to 18,264.81 points, All Share Index by 0.9% to 2,962.63 points and Al Rayan Islamic Index (Price) by 1.43% to 2,156.03 points.

The transport index soared 3.32%, telecom (1.6%), industrials (1.45%), realty (1.18%), banks and financial services (0.66%), insurance (0.13%) and consumer goods (0.06%).

More than 63% of the traded constituents extended gains with major movers being Milaha, Gulf Warehousing, Nakilat, Ooredoo, Industries Qatar, Mesaieed Petrochemical Holding, Qatari Investors Group, Qatar Aluminum, Qatar National Cement, Masraf Al Rayan, QIIB and United Development Company; even as Doha Bank, Qatar Oman Investment, Qatar German Company for Medical Devices, Mazaya Qatar and Ezdan were among the losers.

Non-Qatari institutions’ net buying increased considerably to QR57.27mn compared to QR35.71mn on February 18.

Domestic funds turned net buyers to the tune of QR14.96mn against net sellers of QR18.98mn the previous day.

Non-Qatari individuals’ net buying strengthened marginally to QR3.23mn compared to QR2.45mn on Tuesday.

The Gulf individuals’ net profit booking weakened noticeably to QR0.2mn against QR2.74mn on February 18.

However, Qatari investors’ net selling shot up substantially to QR48.57mn compared to QR5.37mn the previous day.

The Gulf funds’ net profit booking also grew significantly to QR26.75mn against QR11.12mn on Tuesday.

Total trade volumes grew 8% to 114.98mn shares, value by 50% to QR333.15mn and transactions by 23% to 8,471.

The banks and financial services sector’s trade volume almost tripled to 42.26mn equities and value more than tripled to QR202.51mn on more than doubled deals to 3,672.

The consumer goods sector’s trade volume soared 22% to 6.76mn stocks, while value fell 16% to QR10.3mn despite 2% higher transactions at 459.

There was 11% increase in the insurance sector’s trade volume to 1.96mn shares and 4% in value to QR3.51mn on almost doubled deals to 162.

However, the transport sector’s trade volume plummeted 68% to 2.66mn equities, value by 59% to QR8.96mn and transactions by 69% to 214.

The telecom sector reported 25% plunge in trade volume to 2.5mn stocks, 13% in value to QR15.05mn and 8% in deals to 798.

The real estate sector’s trade volume tanked 24% to 36.28mn shares and value by 23% to QR40.98mn, whereas transactions shot up 30% to 1,861.

The industrials sector saw 13% shrinkage in trade volume to 22.57mn equities but on 3% growth in value to QR51.83mn despite 14% lower deals at 1,305.

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

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