International inventions to end the oil price war had its positive effect and was reflected on the Qatar Stock Exchange, which on Thursday gained more than 263 points and QR17bn in capitalisation.
The banking and industrials counters witnessed higher than average demand as the 20-stock Qatar Index grew 3.21% to 8,458.32 points, although it opened at a low of 8,179 points.
Foreign institutions' substantially increased net buying helped the bourse, whose year-to-date losses were trimmed to 18.87%.
Market capitalisation saw a 3.63% surge to QR478.18bn mainly owing to large and small cap segments.
Islamic stocks were seen gaining slower than the main index in the market, where the Gulf institutions and retail investors were also net buyers.
Trade turnover and volumes were on the increase in the bourse, where the consumer goods, banking and real estate sectors together accounted for about 78% of the total trading volume.
The Total Return Index soared 3.21% to 16,176.32 points, the All Share Index by 3.5% to 2,639.35 points and the Al Rayan Islamic Index (Price) by 2.59% to 1,801.34 points.
The banks and financial services index shot up 4.53%, industrials (3.8%), insurance (1.98%), telecom (1.55%), real estate (1.21%) and transport (0.37%); while consumer goods and services was down 0.07%.
As much as three-fourth of the traded constituents extended gains with major movers being QNB, Qatar Islamic Bank, QIIB, Masraf Al Rayan, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Salam International Investment, Qatar National Cement, Qatar Insurance, Al Khaleej Takaful, Mazaya Qatar, Barwa, United Development Company, Ooredoo and Vodafone Qatar; whereas Aamal Company, Qatari Investors Group and Islamic Holding Group were among the losers.
Non-Qatari institutions’ net buying increased substantially to QR63.13mn compared to QR10.1mn on April 1.
The Gulf institutions turned net buyers to the tune of QR2.46mn against net profit takers of QR0.17mn the previous day.
The Gulf individuals were also net buyers to the extent of QR0.51mn compared with net sellers of QR0.93mn on Wednesday.
However, local retail investors’ net selling strengthened considerably to QR48.39mn against QR13.3mn on April 1.
Domestic institutions turned net sellers to the tune of QR12.07mn compared with net buyers of QR1.6mn the previous day.
Non-Qatari individual investors were also net profit takers to the extent of QR5.62mn against net buyers of QR2.7mn on Wednesday.
Total trade volumes rose 11% to 91.63mn shares, value by 23% to QR212.05mn and transactions by 29% to 6,229.
The industrials sector's trade volume soared 65% to 24.46mn equities, value by 68% to QR36.99mn and deals by 92% to 1,725.
The insurance sector reported a 22% surge in trade volume to 1.75mn stocks, 46% in value to QR3.46mn and 43% in transactions to 200.
The consumer goods and services sector's trade volume shot up 5% to 25.85mn shares and value more than tripled to QR50.35mn on a 26% growth in deals to 854.
The banks and financial services sector saw a 2% jump in trade volume to 14.28 equities but on a 4% fall in value to QR91.12mn despite 15% higher transactions at 2,174.
However, the transport sector’s trade volume plummeted 47% to 1.84mn stocks and value by 49% to QR4.19mn, while deals expanded 33% to 255.
There was a 21% plunge in the telecom sector's trade volume to 2.35mn shares and 6% in value to QR8.96mn but on a 31% jump in transactions to 435.
The real estate sector's trade volume was down 2% to 21.1mn equities, value by 12% to QR16.97mn and 18% in deals to 586.
In the debt market, there was no trading of sovereign bonds and treasury bills.