(MENAFN- Gulf Times) Substantial buying interests from foreign and Gulf Cooperation Council (GCC) institutions helped Qatar Stock Exchange gain as much as 190 points to inch near the 11,500 mark on Wednesday.
Buying demand was seen higher, especially in the banking and industrials counters, leading to a 1.69% expansion in the 20-stock Qatar Index to 11,465.22 points on expanded overall volumes.
Nevertheless, local and non-Qatari retail investors as well as domestic institutions turned net profit takers in the market, which is down 6.68% year-to-date.
The index that tracks Shariah-principled stocks was seen gaining slower than the other indices in the bourse, where trading was largely skewed towards the banking, real estate and industrials sectors, which together constituted more than 74% of the trading volume.
Market capitalisation surged 1.73% or more than QR10bn to QR605.25bn with large, micro, small and mid cap equities gaining 2.25%, 1.13%, 0.92% and 0.6% respectively.
The Total Return Index gained 1.69% to 17,821.04 points, All Share Index by 1.59% to 3,053.98 points and Al Rayan Islamic Index by 1.25% to 4,318.23 points.
Banks and financial services stocks swelled 2.14%, industrials (1.98%), realty (1.48%), telecom (1.19%), consumer goods (0.22%) and insurance (0.21%); while transport fell 0.13%.
About 78% of the stocks witnessed gains with major movers being Industries Qatar, QNB, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, al khaliji, Dlala, Gulf International Services, Mesaieed Petrochemical Holding, Aamal Company, Al Khaleej Takaful, Barwa, Ezdan, Mazaya Qatar, Vodafone Qatar and Ooredoo; even as Gulf Warehousing, Qatari Investors Group and Alijarah Holding bucked the trend.
Non-Qatari institutions turned net buyers to the tune of QR61.67mn against net sellers of QR53.33mn on September 29.
The GCC institutions were also net buyers to the extent of QR33mn compared with net sellers of QR3.35mn on Tuesday.
However, local retail investors turned net sellers to the tune of QR20.88mn against net buyers of QR7.03mn the previous day.
Domestic institutions were also net sellers to the extent of QR59.69mn compared with net buyers of QR38.89mn on September 29.
Non-Qatari individual investors turned net profit takers to the tune of QR10.89mn against net buyers of QR13.14mn on Tuesday.
The GCC individual investors' net selling strengthened to QR3.13mn compared to QR2.34mn the previous day.
Total trade volume rose 44% to 6.94mn shares, value by 66% to QR372.84mn and deals by 31% to 4,703.
The insurance sector's trade volume more than tripled to 0.22mn equities and value also more than tripled to QR20.71mn on more than doubled transactions to 151.
The industrials sector's trade volume more than doubled to 1.51mn stocks and value almost doubled to QR112.13mn on 80% jump in deals to 1,563.
The banks and financial services sector reported 67% surge in trade volume to 2.02mn shares, 67% in value to QR144.81mn and 32% in transactions to 1,333.
The real estate sector's trade volume soared 33% to 1.62mn equities and value by 16% to QR37.36mn, while deals were down 2% to 507.
The market witnessed 3% rise in the telecom sector's trade volume to QR1.04mn stocks and 18% in value to QR30.79mn but on 9% fall in transactions to 562.
However, the consumer goods sector's trade volume tanked 18% to 0.09mn shares, even as value and deals more than doubled to QR9.79mn and 195 respectively.
The transport sector saw 12% decline in trade volume to 0.44mn equities but on 44% expansion in value to QR17.26mn. Transactions were down 6% to 392.
In the debt market, there was no trading of treasury bills and government bonds.
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