The bullish outlook of foreign and Gulf funds as well as foreign individuals ended the bearish run on the Qatar Stock Exchange, whose key barometer on Tuesday gained more than 96 points to cross the 8,900 levels.
An across the board buying – particularly in the insurance, consumer goods and banking counters – lifted the 20-stock Qatar Index 1.09% to 8,929.66 points, although it had touched a high of 8,968 points within the 30 minutes of opening.
However, local retail investors and domestic funds were seen net profit takers on the bourse, whose year-to-date losses were trimmed to 14.35%.
Market capitalisation saw about QR5bn or about 1% increase to QR501.99bn mainly owing to midcap segments.
Islamic stocks were seen gaining faster than the other indices on the market, where Arab individuals were also seen net profit takers albeit at lower levels.
Trade turnover and volumes were on the increase in the market, where industrials, consumer goods and realty sectors together accounted for more than 74% of the total trading volume.
The Total Return Index grew 1.09% to 17,076.69 points, All Share Index by 1.07% to 2,773.76 points and Al Rayan Islamic Index (Price) by 1.16% to 1,933.16 points.
The insurance index expanded 1.54%, consumer goods (1.14%), banks and financial services (1.12%), real estate (1.08%), transport (1.04%), telecom (0.92%) and industrials (0.76%).
About 78% of the traded constituents extended gains with major movers being Qatar Insurance, QNB, Qatar Islamic Bank, QIIB, Islamic Holding Group, Qatar German Company for Medical Devices, Salam International Investment, Woqod, Mannai Corporation, Qatari Investors Group, Qatar Electricity and Water, Aamal Company, Mesaieed Petrochemical Holding, Barwa, Vodafone Qatar, Gulf Warehousing and Nakilat; even as al khaliji, Ahlibank Qatar and Al Khaleej Takaful were among the losers.
Foreign institutions turned net buyers to the tune of QR57.83mn compared with net sellers of QR17.01mn on April 13.
The Gulf institutions were also net buyers to the extent of QR3.98mn against net sellers of QR0.74mn on Monday.
Foreign individuals turned net buyers to the tune of QR1.96mn compared with net sellers of QR2.27mn the previous day.
The Gulf individuals were net buyers to the extent of QR0.12mn against net profit takers of QR0.15mn on April 13.
However, Qataris were net sellers to tune of QR46.24mn compared with net buyers of QR3.15mn on Monday.
Domestic funds turned net sellers to the extent of QR15.62mn against net buyers of QR14.79mn the previous day.
The Arab individuals were also seen net sellers to the tune of QR2mn compared with net buyers of QR2.24mn on Monday.
The Arab institutions had no major exposure against their net buying of QR0.02mn the previous day.
Total trade volumes rose 10% to 98.13mn shares and value by 58% to QR238.48mn on more than doubled transactions to 8,583.
The consumer goods and services sector's trade volume more than doubled to 23.59mn equities and value soared 55% to QR27.47mn on more than doubled deals to 926.
The banks and financial services sector’s trade volume increased 47% to 17mn stocks and value more than tripled to QR109.76mn on more than quadrupled transactions to 2,950.
There was 36% surge in the transport sector’s trade volume to 5mn shares and 16% in value to QR11.79n on more than doubled deals to 577.
The real estate sector’s trade volume was up 11% to 23.34mn equities, value by 85% to QR33.56mn and transactions by 68% to 882.
However, the insurance sector reported 33% plunge in trade volume to 1.45mn stocks and 39% in value to QR3.42mn but on 19% growth in deals to 237.
The industrials sector’s trade volume plummeted 32% to 26.16mn shares and value by 19% to QR48.95mn, whereas transactions jumped 59% to 2,747.
The market witnessed 10% shrinkage in the telecom sector’s trade volume to 1.58mn equities but on 4% growth in value to QR3.51mn and 4% in deals to 264.
In the debt market, there was no trading of sovereign bonds and treasury bills.