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Doha, Qatar: The shares in Qatar’s stock market witnessed a notable bounce-bank as the Qatar Stock Exchange (QSE) index surged 376.67 points or 3.66%, yesterday to close at 10,662.33 points.
Global markets reacted quickly to the announced two-week ceasefire between the United States and Iran, with oil prices falling, gold and stock prices rising, and the dollar weakening in Asian trading. This has raised hopes for a recovery in energy supplies, particularly those related to the Strait of Hormuz.
Since yesterday there has been a decline in oil prices in international markets, improvement in financial transactions in most stock exchanges, as well as the recovery of the business climate, pressure on supply chains and a decrease in insurance costs.
The QSE general index declined at the end of trading on Tuesday by 4.43% to close at 10,285.66 points.
During yesterday’s session the volume of shares traded stood at 353.890 million from 238.607 million on Tuesday and the value of shares reached QR821.900m as a result of implementing 36,172 deals in all sectors.
In the session, the shares of 55 companies rose, while the prices of two companies decreased.
At the end of the trading session, the market capitalisation reached QR631.940bn, compared to QR608.420bn in the previous session. The indices of all seven sectors ended in green zone, yesterday.
QSE figures attributed the recorded rise to the positive performance of the banks and financial services 3% to 5,286.33, industrials 5.07% to 4,274.07, transportation sector by 6.50% to 5,561.29, real estate 3.38% to 1,448.98, insurance 1.67% to 2,804.50, telecoms 2.66% to 2,376.22 and consumer goods and services sector 2.81% to 8,410.66.
QSE Total Return Index gained 3.66% to 26,319.58, QSE Al Rayan Islamic index added 3.40 percent to 5,289.21 points and QSE All Share Index rose 3.55 percent to 4,138.60 points.
Top gainers in yesterday’s trade were Inma Holding, Mannai Corporation, Qatar Aluminum Manufacturing, Qatar Gas Transport, and Ezdan Holding Group rising by 9.9%, 8.1%, 8%, 8% and 7.7% respectively.
