The Qatar Stock Exchange (QSE) on Tuesday scaled 9,500 levels with an ease, on sustained improvement in sentiments owing to the government's financial package to cope with the challenges of Covid-19.
Stronger buying interests - particularly in the insurance, banking, industrials and telecom - led the 20-stock Qatar Index gain 1.06% or 90 points to 8,521.01 points, having touched a high of 8,602 points intra-day.
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.
Foreign institutions were seen bullish, albeit at lower levels, in the market, whose year-to-date losses were trimmed to 18.27%.
Market capitalisation saw more than QR7bn or 1.51% expansion to QR478.03bn mainly owing to large and small cap segments.
Islamic stocks gained slower than the main barometer of the bourse, where the net selling pressure from the Gulf funds was on the decline.
Trade turnover and volumes were on the decrease in the bourse, where banking and real estate sectors together accounted for about 55% of the total trading volume.
The Total Return Index rose 1.06% to 16,115.6 points, Al Rayan Islamic Index (Price) by 0.54% to 1,838 points and All Share Index by 1.25% to 2,618.22 points.
The insurance index gained 1.61%, banks and financial services (1.54%), industrials (1.53%), telecom (1.1%), realty (0.49%) and transport (0.32%), while consumer goods declined 0.59%.
More than 52% of the traded constituents extended gains with major movers being QNB, Ahlibank Qatar, Qatar First Bank, Commercial Bank, Islamic Holding Group, Qatar Insurance, Barwa, Ezdan, Vodafone Qatar and Ooredoo.
Nevertheless, Doha Bank, Dlala, Zad Holding, Salam International Investment, Medicare Group, Widam Food, Qatar Industrial Manufacturing, Gulf International Services, United Development Company and Gulf Warehousing were among the losers.
Non-Qatari institutions turned net buyers to the tune of QR2.46mn compared with net sellers of QR124.04mn the previous day.
The Gulf institutions’ net profit booking declined substantially to QR4.67mn against QR12.75mn on Monday.
However, Qatari investors turned net sellers to the extent of QR23mn compared with buyers of QR30.97mn on March 16.
Non-Qatari individual investors' net selling strengthened noticeably to QR7.64mn against QR0.66mn the previous day.
The Gulf individuals' net selling rose perceptibly to QR4.42mn compared to QR1.04mn on Monday.
Domestic institutions' net buying weakened substantially to QR36.59mn against QR107.54mn on March 16.
Total trade volumes fell 42% to 117.83mn shares and value by 34% to QR362.26mn, while transactions were up 3% to 12,350.
The real estate sector’s trade volume plummeted 57% to 31.98mn equities, value by 39% to QR41mn and deals by 37% to 1,333.
There was 55% plunge in the industrials sector's trade volume to 17.77mn stocks, 43% in value to QR50.81mn and 33% in transactions to 1,585.
The consumer goods sector's trade volume tanked 53% to 11.26mn shares, value by 42% to QR41.3mn and deals by 27% to 1,070.
The insurance sector saw 31% shrinkage in trade volume to 4.3mn equities, 34% in value to QR7.82mn and 21% in transactions to 380.
The banks and financial services sector's trade volume shrank 28% to 32.44 stocks and value by 35% to QR177.61mn, whereas deals shot up 65% to 6,552.
However, the transport sector reported 63% surge in trade volume to 7.68mn shares and 56% in value to QR16.55mn but on 31% contraction in transactions to 308.
The telecom sector’s trade volume soared 46% to 12.42mn equities, value by 6% to QR27.17mn and deals by 1% to 1,122.
In the debt market, there was no trading of sovereign bonds and treasury bills.