An across the board buying – particularly in industrials, banking and telecom counters – led the 20-stock Qatar Index surge 1.84% to 10,397.01 points.
The foreign institutions turned net buyers in the main market, which however recovered from an intraday low 10,249 points.
More than 79% of the traded constituents extended gains to investors in the main bourse, whose year-to-date losses narrowed further to 2.66%.
The Gulf institutions continued to be bullish but with lesser vigour in the main bourse, whose capitalisation shot up QR10.18bn or 1.68% to QR616.14bn, mainly on account of large and midcap segments.
The Arab retail investors were also seen net buyers but with lesser intensity in the main bourse, which saw a total of 13,198 exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.5mn changed hands across nine deals.
The domestic institutions were increasingly into net selling in the main market, which saw no trading of sovereign bonds.
The Islamic index was seen gaining slower than the other indices in the main market, which saw no trading of treasury bills.
The Total Return Index zoomed 1.84%, All Share Index by 1.74% and Al Rayan Islamic Index (Price) by 1.67% in the main bourse, whose trade turnover and volumes were on the decline.
The industrials sector index plummeted 2.03%, banks and financial services (1.89%), telecom (1.86%), insurance (1.79%), realty (1.37%), consumer goods and services (1.21%) and transport (0.62%).
Major gainers in the main market included Qatar General Insurance and Reinsurance, Mannai Corporation, Industries Qatar, Al Khaleej Takaful, Mesaieed Petrochemical Holding, Alijarah Holding, Commercial Bank, Qatar Islamic Bank, QNB, Masraf Al Rayan, Lesha Bank, Widam Food, Mekdam Holding, Qatar Electricity and Water, Mazaya Qatar and Ooredoo.
Nevertheless, Dlala, Qatari German Medical Devices, Estithmar Holding, Medicare Group and Al Meera were among the shakers in the main market. In the venture market, Al Faleh Educational Holding saw its shares depreciate in value.
The foreign funds turned net buyers to the tune of QR44.33mn compared with net sellers of QR67.52mn on June 1.
However, the domestic institutions’ net profit booking grew substantially to QR31.21mn against QR0.69mn last Thursday.
The Qatari individuals turned net sellers to the extent of QR29.03mn compared with net buyers of QR27.34mn the previous trading day.
The foreign individual investors were net sellers to the tune of QR2.42mn against net buyers of QR0.87mn on June 1.
The Gulf retail investors turned net profit takers to the extent of QR0.11mn compared with net buyers of QR0.77mn last Thursday.
The Gulf institutions’ net buying declined noticeably to QR13r.07mn against QR21.18mn the previous trading day.
The Arab individuals’ net buying weakened markedly to QR5.36mn compared to QR18.08mn on June 1.
The Arab institutions continued to have no major net exposure for the second straight session.
The main market saw about 1% dip in trade volumes to 186.89mn shares, 21% in value to QR468.99mn and 29% in deals to 16,455.