Strong buying, particularly in the industrials, Wednesday gave a 146-point thrust to the Qatar Stock Exchange to place its key index above the 9,200 level.
The increased buying interests of domestic institutions lifted the 20-stock Qatar Index by 1.61% to 9, 213.1 points; although it touched a low of 9,054 points soon after the opening.
The Gulf funds were also seen increasingly bullish in the bourse, whose year-to-date losses were trimmed to 11.63%.
Market capitalisation saw more than QR7bn, or 1.37%, expansion to QR522.43bn mainly owing to large and small cap segments.
Islamic stocks were seen gaining slower than the main index in the market, where local retail investors were increasingly net profit takers.
Trade turnover and volumes were on the decline in the market, where the realty, industrials and banking sectors together accounted for about 74% of the total trading volume.
The Total Return Index gained 1.61% to 17,711.89 points, the All Share Index by 1.47% to 2,854.89 points and the Al Rayan Islamic Index (Price) by 1.52% to 2,058.76 points.
The industrials index soared 3.57%, banks and financial services (1.21%), consumer goods and services (0.94%), transport (0.75%), real estate (0.45%) and telecom (0.09%); while insurance fell 0.24%.
More than 68% of the traded constituents extended gains with major movers being Qatar Electricity and Water, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar National Cement, QNB, Commercial Bank, Alijarah Holding, Qatar German Company for Medical Devices, Widam Food, Mannai Corporation, Nakilat, Vodafone Qatar and Barwa; even as Ezdan, Qatar Oman Investment and Mazaya Qatar were among the losers.
Domestic funds’ net buying increased significantly to QR42.23mn compared to QR12.23mn on June 2.
The Gulf institutions’ net buying strengthened perceptibly to QR7.22mn against QR5.67mn the previous day.
The Gulf individuals turned net buyers to the tune of QR2.85mn compared with net sellers of QR0.16mn on Tuesday.
However, local retail investors’ net selling grew considerably to QR58.44mn against QR39.49mn on June 2.
The Arab individuals’ net profit booking enhanced notably to QR4.73mn compared to QR1.52mn the previous day.
Foreign individuals were net sellers to the extent of QR2.61mn against net buyers of QR0.89mn on Tuesday.
The Arab funds’ net profit booking rose perceptibly to QR0.18mn compared to QR0.09mn on June 2.
Foreign funds’ net buying weakened substantially to QR13.64mn against QR22.49mn the previous day.
Total trade volumes fell 28% to 168.83mn shares, value by 10% to QR401.09mn and transactions by 4% to 10,143.
The telecom sector’s trade volume plummeted 56% to 6.13mn equities, value by 59% to QR13.17mn and deals by 74% to 440.
The transport sector reported a 49% plunge in trade volume to 11.63mn stocks, 50% in value to QR29.95mn and 49% in transactions to 679.
The real estate sector’s trade volume tanked 49% to 58.07mn shares and value by 39% to QR57.45mn, whereas deals were up 6% to 1,407.
There was an 8% fall in the industrials sector’s trade volume to 34.73mn equities but on a 68% growth in value to QR94.48mn and 24% in transactions to 2,288.
However, the insurance sector’s trade volume more than doubled to 5.73mn stocks and value doubled to QR11.54mn on a 71% expansion in deals to 354.
The consumer goods and services sector saw a 39% surge in trade volume to 20.77mn shares but on a 19% decline in value to QR40.69mn despite 24% higher transactions at 1,154.
The banks and financial services sector’s trade volume rose 10% to 31.78mn equities, value by 4% to QR153.81mn and deals by 18% to 3,821.
In the debt market, there was no trading of sovereign bonds and treasury bills.