(MENAFN- Gulf Times) The Qatar Stock Exchange settled above 9,100 levels mainly lifted by insurance, consumer goods and banking equities.
Foreign institutions were increasingly net buyers as the 20-stock Qatar Index settled 0.22% higher at 9,119.01 points.
The bullish outlook of Gulf individuals and substantially weakened net selling by local retail investors also helped the market, which is up 6.99% year-to-date.
Nevertheless, capitalisation declined 0.05% to QR489bn despite buying interests within large and midcap segments.
Islamic stocks were seen declining vis-à-vis gains in main market, which saw Gulf individuals and domestic funds turn bearish.
Trade turnover and volumes were on the increase in the market, where banking and real estate sectors together accounted for about 78% of the total volume.
The Total Return Index gained 0.22% to 15,396.19 points, while Al Rayan Islamic Index was down 0.02% to 3,680.96 points and All Share Index by 0.05% to 2,552.06 points.
The insurance index gained 1.39%, consumer goods (0.43%), banks and financial services (0.25%) and industrials (0.21%); whereas realty shrank 1.58%, telecom (0.77%) and transport (0.43%).
About 55% of the stocks extended gains with major movers being Qatar Insurance, Industries Qatar, Commercial Bank, Qatar Islamic Bank, Gulf International Services and Widam Food; even as Ezdan, Mazaya Qatar, Vodafone Qatar, Nakilat, Aamal Company, Qatari Investors Group and Salam International Investments were among the losers.
Non-Qatari funds' net buying strengthened substantially to QR14.36mn compared to QR5.24mn the previous day.
The Gulf individual investors turned net buyers to the tune of QR2.5mn against net sellers of QR0.57mn on Tuesday.
Local individuals' net profit booking weakened considerably to QR5.18mn compared to QR16.89mn on February 20.
However, non-Qatari individuals turned net sellers to the extent of QR9.11mn against net buyers of QR0.9mn the previous day.
Domestic institutions were also net sellers to the tune of QR1.54mn compared with net buyers of QR11.83mn on Tuesday.
The Gulf institutions' net profit booking grew marginally to QR1.02mn against QR0.53mn on February 20.
Total trade volume grew 52% to 6.92mn shares, value by 41% to QR167.76mn and transactions by 9% to 2,671.
The banks and financial services sector's trade volume almost tripled to 4.07mn equities and value more than doubled to QR91.35mn on 55% increase in deals to 1,104.
The telecom sector's trade volume more than doubled to 0.25mn stocks and value also more than doubled to QR9.42mn on 50% growth in transactions to 157.
The insurance sector's trade volume doubled to 0.06mn shares, value soared 87% QR2.69mn and deals by 34% to 47.
The transport sector reported 15% surge in trade volume to 0.15mn equities to more than double value to QR5.51mn on 50% jump in transactions to 120.
The real estate sector's trade volume was up 10% to 1.31mn stocks, while value declined 20% to QR21.61mn despite 42% higher deals to 624.
However, there was 43% plunge in the consumer goods sector's trade volume to 0.21mn shares, 9% in value to QR14.75mn and 52% in transactions to 140.
The industrials sector's trade volume plummeted 36% to 0.87mn equities, value by 13% to QR22.43mn and deals by 39% to 479.
In the debt market, there was no trading of treasury bills and sovereign bonds.
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