Rising investors’ confidence on an imminent expected rate cut by the US Federal Reserve had its reflection on the Qatar Stock Exchange (QSE), which on Monday saw its key index surge 114 points and capitalisation add QR5.31bn.

An across the board buying, especially in the banks and telecom counters, lifted the 20-stock Qatar Index 1.11% to 10,344.42 points, recovering from an intraday low of 10,232 points.

More than 65% of the traded constituents extended gains to investors in the main market, whose year-to-date losses truncated to 4.49%.

The foreign funds were seen increasingly net buyers in the main bourse, whose capitalisation added 0.9% to QR598.37bn on the back of mid and small cap segments.

The foreign individuals turned bullish in the main market, which saw 0.01mn exchange traded funds (sponsored by Masraf Al Rayan and Doha Bank) valued at QR0.12mn trade across 10 deals.

However, the local retail investors were seen increasingly net sellers in the main bourse, which saw no trading of treasury bills.

The domestic institutions were net profit takers in the main market, which saw no trading of sovereign bonds.

The Islamic index was seen gaining slower than the main barometer in the main bourse, whose trade turnover and volumes were on the increase.

The Total Return Index rose 1.11%, the All Share Index by 1% and the All Islamic Index by 1.02% in the main market.

The banks and financial services sector index shot up 1.32%, telecom (1.16%), industrials (1.01%), real estate (0.76%), transport (0.24%), insurance (0.06%) and consumer goods and services (0.05%).

Major gainers in the main market included Qatar Oman Investment, Qatar Islamic Bank, Gulf International Services, Qatar Electricity and Water, Commercial Bank, QIIB, Widam Food, Mesaieed Petrochemical Holding, Barwa and Ooredoo. In the juniour bourse, Al Mahhar Holding saw its shares appreciate in value.

Nevertheless, Ahlibank Qatar, Doha Insurance, Qatar Islamic Insurance, Qatar German Medical Devices and Mazaya Qatar were among the shakers in the main market.

The foreign institutions’ net buying increased substantially to QR53.04mn compared to QR9.8mn on August 29.

The foreign retail investors were net buyers to the tune of QR4.84mn against net sellers of QR6.76mn the previous day.

However, the Qatari individuals’ net selling strengthened significantly to QR43.79mn compared to QR10.33mn on Sunday.

The domestic institutions turned net sellers to the extent of QR8.92mn against net buyers of QR4.55mn on August 29.

The Gulf institutions’ net selling expanded noticeably to QR3.02mn compared to QR0.61mn the previous day.

The Gulf individual investors’ net profit booking grew perceptibly to QR1.33mn against QR0.06mn on Sunday.

The Arab individuals turned net sellers to the tune of QR0.83mn compared with net buyers of QR3.4mn on August 29.

The Arab institutions had no major net exposure for the second straight session.

Trade volumes in the main market soared 78% to 155.74mn shares, value by 69% to QR395.84mn and transactions by 89% to 15,073.

The venture market however saw 40% shrinkage in trade volumes to 0.71mn equities, 40% in value to QR1.64mn and 11% in deals to 67.