Qatar Stock Exchange inched near the 10,400 mark and capitalisation gained QR10bn, mainly on buying support from domestic and foreign institutions.

An across the board buying – particularly in insurance, real estate and telecom stocks – led the 20-stock Qatar Index vault 2.29% to 10,368.65 points, reflecting the strong rebound in the oil prices, while other Gulf bourses fell after strong rises on the previous day due to climbing oil prices.

However, Gulf individual investors turned bearish in the bourse, which is down 0.58% year-to-date.

There was also increased net selling by local and non-Qatari retail investors as well as Gulf institutions in the market, where trading turnover and volumes expanded.

The index that tracks Shariah-principled stocks was seen gaining faster than the other indices in the market, where realty, banking and industrials stocks together accounted for more than 66% of the total trading volume.

Market capitalisation soared 1.91% to QR547.17bn with micro, mid, large and small cap equities gaining 2.25%, 1.89%, 1.82% and 1.44% respectively.

The Total Return Index surged 2.29% to 16,433.68 points, All Share Index by 2.11% to 2,800.11 points and Al Rayan Islamic Index by 2.71% to 3,874.22 points.

Insurance stocks appreciated 4.01%, real estate (3.24%), telecom (3.14%), industrials (2.48%), banks and financial services (1.39%), transport (1.01%) and consumer goods (0.77%).

More than 89% of the stocks extended gains with major movers being Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Barwa, Mazaya Qatar, Ezdan, Vodafone Qatar, Ooredoo, Qatar Islamic Bank, Commercial Bank, Alijarah Holding, Islamic Holding Group and Qatari German Company for Medical Devices.

Non-Qatari institutions’ net buying increased to QR56.34mn compared to QR49.56mn the previous trading day.

Domestic institutions turned net buyers to the tune of QR4.69mn against net sellers of QR15.32mn last Thursday.

However, the GCC (Gulf Cooperation Council) individuals turned net sellers to the extent of QR4.96mn against net buyers of QR0.52mn on March 3.

Local retail investors’ net selling strengthened to QR29.44mn compared to QR25.25mn the previous trading day.

The GCC institutions’ net selling also increased to QR8.55mn against QR2.25mn last Thursday.

Non-Qatari individual investors’ net profit booking shot up to QR18.08mn compared to QR7.31mn on March 3.

Total trade volume rose 49% to 23.3mn shares, value by 39% to QR652.83mn and deals by 50% to 9,120.

The insurance sector’s trade volume more than doubled to 0.18mn equities and value also more than doubled to QR12.38mn on more than doubled transactions to 197.

The consumer goods sector’s trade volume more than doubled to 3.39mn stocks but value shrank 16% to QR45.6mn and deals by 20% to 715.

There was 90% surge in the industrials sector’s trade volume to 4.75mn shares, 79% in value to QR204.7mn and 54% in transactions to 2,155.

The real estate sector’s trade volume soared 74% to 5.74mn equities and value by 91% to QR120.84mn on more than doubled deals to 1,794.

The telecom sector reported 29% expansion in trade volume to 3.37mn stocks, 27% in value to QR57.27mn and 39% in transactions to 1,371.

The transport sector’s trade increased 19% volume to 0.87mn shares, value by 8% to QR22.09mn and deals by 2% to 260.

The banks and financial services sector saw 4% rise in trade volume to 5mn equities, 15% in value to QR189.96mn and 56% in transactions to 2,628.

In the debt market, there was no trading of treasury bills and government bonds.