The government's proposed financial package on Monday substantially lifted sentiments on the Qatar Stock Exchange (QSE), whose key index rose above 8,400 levels.

Stronger buying interests — particularly in the banking, transport and consumer goods — led the 20-stock Qatar Index soar 1.45% or 121 points to 8,431.28 points, having touched a high of 8,791 points intraday.

This comes in the wake of announced QR75bn financial package for the private sector and another QR10bn fund infusion into the QSE in view of the challenges posed by the pandemic Covid-19.

"Certainly, it helps boost sentiments, which otherwise was lagging due to multitude of reasons, including Covid-19 and oil shock," an analyst with a leading investment firm said.

There was increased net buying from domestic institutions in the market, whose year-to-date losses were trimmed to 19.13%.

Market capitalisation saw more than QR4bn or 0.92% expansion to QR470.93bn mainly owing to small and microcap segments.

Islamic stocks were seen gaining slower than the main barometer on the bourse, where the local retail investors turned bullish.

Trade turnover and volumes were on the increase in the bourse, where real estate, banking and industrials sectors together accounted for about 79% of the total trading volume.

The Total Return Index rose 1.7% to 15,945.84 points, Al Rayan Islamic Index (Price) by 0.83% to 1,828.18 points and All Share Index by 1.66% to 2,585.89 points.

The insurance index gained 2.78%, transport (2.48%), consumer goods (1.87%) and realty (1.63%); while insurance declined 4.35%, industrials (0.84%) and telecom (0.19%).

About 58% of the traded constituents extended gains with major movers being Qatar Islamic Bank, QNB, Commercial Bank, Doha Bank, Masraf Al Rayan, QIIB, Woqod, Widam Food, Mannai Corporation, Medicare Group, Al Khaleej Takaful, Qatar Islamic Insurance, United Development Company, Barwa, Nakilat, Milaha and Gulf Warehousing; even as Dlala, Qatar First Bank, Qatar National Cement, Qatari Investors Group, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Qatar Insurance and Ezdan were among the losers.

Domestic institutions' net buying increased substantially to QR107.54mn compared to QR86.37mn on March 15.

Qatari investors turned net buyers to the tune of QR30.97mn against net sellers of QR24.19mn the previous day.

The Gulf institutions’ net profit booking eased substantially to QR12.75mn compared to QR34.15mn on Sunday.

Non-Qatari individual investors' net selling shrank noticeably to QR0.66mn against QR11.72mn on March 15.

However, non-Qatari institutions’ net selling grew considerably to QR124.04mn compared to QR15.32mn the previous day.

The Gulf individuals' net selling rose marginally to QR1.04mn against QR0.96mn on Sunday.

Total trade volumes rose 27% to 202.95mn shares, value by 77% to QR550.09mn and transactions by 77% to 11,966.

The insurance sector's trade volume almost tripled to 6.26mn equities and value also almost tripled to QR11.91mn on more than doubled deals to 481.

The consumer goods sector's trade volume more than doubled to 24.06mn stocks and value also more than doubled to QR71.24mn on 79% jump in transactions to 1,467.

The banks and financial services sector saw 59% surge in trade volume to 44.86 shares, 98% in value to QR273.97mn and 92% in deals to 3,981.

The industrials sector's trade volume shot up 55% to 39.37mn equities and value more than doubled to QR89.44mn on more than doubled transactions to 2,377.

The market witnessed 24% rise in the telecom sector’s trade volume to 8.51mn stocks but on 3% fall in value to QR25.56mn and 6% in deals to 1,108.

However, the real estate sector’s trade volume fell 9% to 75.17mn shares, whereas value grew 16% to QR67.36mn and transactions by 74% to 2,103.

There was a 4% dip in the transport sector’s trade volume to 4.71mn equities and 2% in value to QR10.59mn but on more than doubled deals to 449.

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