(MENAFN- Gulf Times) The Qatar Stock Exchange on Monday gained more than 132 points to cross the 10,300 levels with an ease, mainly on the back of robust buying in the telecom, industrials and banking counters.
Foreign funds' considerably buying interests lifted the 20-stock Qatar Index 1.3% to 10,323.98 points, reflecting the global optimism that the Suez Canal waterway will soon be operationalised after the ship blocking it was partially re-floated.
The Arab individuals' bullish outlook also had its influence in the bourse, whose year-to-date losses were contained at 1.07%.
The Islamic index was seen gaining slower than the other indices in the market, whose capitalisation saw more than QR7bn or 1.27% increase to QR601.21bn, mainly owing to large and midcap segments.
The Gulf institutions were seen net buyers, albeit at lower levels, in the bourse, where the industrials and consumer goods and services sectors together accounted for more than 64% of the total trading volume.
A total of 78,768 exchange traded funds (Masraf Al Rayan sponsored QATR and Doha Bank sponsored QETF) valued at QR597,401 changed hands across 20 deals; while in the debt market, there was no trading of sovereign bonds and treasury bills.
The Total Return Index rose 1.3% to 20,423.26 points, All Share Index by 1.25% to 3,281.41 points and Al Rayan Islamic Index (Price) by 0.62% to 2,380.54 points.
The telecom index soared 2.3%, industrials (1.66%), banks and financial services (1.39%), real estate (1.19%), consumer goods and services (0.43%), and transport (0.14%); while insurance was down 0.07%.
More than 60% of the traded constituents extended gains with major movers being Industries Qatar, Ooredoo, QNB, Qatar Electricity and Water, Mannai Corporation, Investment Holding Group, Qatar Islamic Bank, Commercial Bank, Dlala, Zad Holding, Widam Food, Mesaieed Petrochemical Holding, United Development Company, Barwa and Vodafone Qatar.
Nevertheless, Al Meera Consumer Goods, Al Khaleej Takaful, Qatar National Cement, Al Khaliji, Qatari German Medical Devices and Aamal Company were among the notable losers.
The foreign institutions' net buying increased substantially to QR104.3mn against QR4.43mn on March 28.
The Arab individuals turned net buyers to the tune of QR4.64mn compared with net sellers of QR0.66mn on Sunday.
The Gulf institutions were net buyers to the extent of QR0.4mn against net sellers of QR1.1mn the previous day.
However, the domestic funds turned net sellers to the tune of QR51.09mn compared with net buyers of QR22.62mn on March 28.
The local retail investors' net selling increased considerably to QR43.78mn against QR25.73mn on Sunday.
The Gulf individuals' net profit booking grew markedly to QR13.67mn compared to QR0.73mn the previous day.
The foreign individuals turned net profit takers to the extent of QR0.91mn against net buyers of QR1.21mn on March 28.
The Arab funds continued to have no major net exposure.
Total trade volume rose 14% to 255.02mn shares, value by 38% to QR504.35mn and transactions by 58% to 11,754.
The transport sector's trade volume grew more than five-fold to 6.18mn equities and value also rose more than five-fold to QR23.96mn on more than quadrupled deals to 988.
The telecom sector reported 96% surge in trade volume to 4.61mn stocks, 62% in value to QR14.86mn and 54% in transactions to 534.
The industrials sector's trade volume soared 58% to 111.04mn shares, value by 62% to QR140.65mn and deals by 65% to 3,004.
There was 25% expansion in the consumer goods and services sector's trade volume to 52.27mn equities, 46% in value to QR88.22mn and 42% in transactions to 1,928.
The banks and financial services sector's trade volume was up 4% to 38.7mn stocks, value by 73% to QR162.01mn and deals by 93% to 3,500.
However, the real estate sector reported 40% plunge in trade volume to 37.3mn shares and 34% in value to QR59.6mn but on 4% jump in transactions to 1,444.
The insurance sector's trade volume plummeted 28% to 4.92mn equities, value by 27% to QR15.06mn and deals by 31% to 356.
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