Qatar Stock Exchange on Wednesday surpassed the 9,900 mark, largely reflecting the positive sentiments in the global oil front where crude hit the eight-month high of more than $52 a barrel.

Buying was seen more pronounced in the industrials, transport and realty segments as the 20-stock gained 0.62% to 9,918.97 points.

The Gulf institutions’ increased buying support was rather instrumental in instilling bullish momentum for the fourth consecutive session amidst shrinkage in trade turnover despite higher volumes.

Lower selling pressure from domestic institutions as well as Gulf and non-Qatari individual investors also helped the market, which is however down 4.89% year-to-date.

However, foreign institutions’ buying support weakened and there was increased net selling by local retail investors in the bourse, where telecom, banking and industrials stocks together constituted about 80% of the total trading volume.

Market capitalisation rose 0.55% or about QR3bn to QR535.72bn as large, micro and small cap stocks gained 0.64%, 0.3% and 0.1% respectively; while midcaps fell 0.38%.

The Total Return Index gained 0.62% to 16,048.24 points, All Share Index by 0.49% to 2,765.13 points and Al Rayan Islamic Index by 0.53% to 3,848.91 points.

Industrials stocks expanded 0.83%, transport and real estate (0.75% each), banks and financial services (0.4%) and telecom (0.14%); whereas consumer goods and insurance fell 0.46% and 0.04% respectively.

About 54% of the stocks extended gains with major movers being Industries Qatar, Qatari Investors Group, Gulf International Services, Nakilat, Gulf Warehousing, Ezdan, Mazaya Qatar, QNB, Qatar Islamic Bank, Ooredoo and Mannai Corporation; even as Ahli Bank, Commercial Bank, Alijarah Holding, Barwa and Vodafone Qatar bucked the trend.

The GCC (Gulf Cooperation Council) institutions’ net buying strengthened to QR4.05mn against QR0.13mn on June 7.

The GCC individual investors’ net profit booking weakened perceptibly to QR1.8mn compared to QR10.05mn on Tuesday.

Non-Qatari individual investors’ net selling also declined to QR0.03mn against QR4.26mn the previous day.

Domestic institutions’ net profit booking fell to QR18.42mn compared to QR20.42mn on June 7.

However, non-Qatari institutions’ net buying weakened to QR49.87mn against QR58.1mn on Tuesday.

Local retail investors’ net profit booking strengthened to QR33.7mn compared to QR23.5mn the previous day.

Total trade volume rose 9% to 8.94mn shares, while value fell 6% to QR300.06mn and deals by 17% to 3,579.

The telecom sector reported 92% surge in trade volume to 3.24mn equities and 39% in value to QR40.77mn but on 38% decline in transactions to 398.

The insurance sector’s trade volume soared 46% to 0.19mn stocks and value by 32% to QR12.5mn, while deals were down 10% to 149.

There was 34% expansion in the industrials sector’s trade volume to 1.42mn shares, 14% in value to QR63.78mn and 9% in transactions to 850.

However, the consumer goods sector’s trade volume plummeted 52% to 0.24mn equities, value by 57% to QR12.51mn and deals 30% to 297.

The banks and financial services sector saw 22% plunge in trade volume to 2.49mn stocks, 9% in value to QR136.47mn and 20% in transactions to 1,080.

The transport sector’s trade volume tanked 21% to 0.27mn shares, value by 32% to QR11.62mn and deals by 15% to 225.

The market witnessed 15% decline in the real estate sector’s trade volume to 1.1mn equities, 29% in value to QR20.43mn and 12% in transactions to 580.

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