Iran-Israel Ceasefire Lift Sentiments As QSE Surges 199 Points; M-Cap Adds QR11.43bn

The ceasefire announcement between Iran and Israel had its positive impact on the Qatar Stock Exchange, which on Tuesday surged more than 199 points to surpass 10,500 levels with capitalisation adding in excess of QR11bn.

The telecom, transport and real estate counters witnessed higher than average demand as the 20-stock Qatar Index shot up 1.93% to 10,536.87 points, although it touched an intraday high of 10,579 points.

The foreign institutions’ increased net buying had its influence on the main market, whose year-to-date losses truncated to 0.37%.

About 91% of the traded constituents extended gains to investors in the main bourse, whose capitalisation added QR11.43bn or 1.87% to QR621.73bn mainly on account of large and midcap segments.

The Gulf institutions were seen bullish in the main market, which saw as many as 8,031 exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.04mn trade across six deals.

The local retail investors turned net buyers in the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was seen gaining slower than the main barometer of the main market, which saw no trading of treasury bills.

The Arab institutions turned net buyers in the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 1.98%, the All Share Index by 1.76% and the All Islamic Index by 1.88% in the main market.

The telecom sector index shot up 3.02%, transport (2.92%), real estate (2.6%), banks and financial services (1.65%), industrials (1.47%), insurance (1.24%) and consumer goods and services (0.96%).

Major movers in the main market include Widam Food, Qatar German Medical Devices, Lesha Bank, Ezdan, Inma Holding, Qatar Islamic Bank, Commercial Bank, Alijarah Holding, Salam International Investment, Medicare Group, Al Faleh Educational Holding, Baladna, Al Mahhar Holding, Aamal Company, Gulf International Services, Estithmar Holding, Qamco, Ezdan, Mazaya Qatar, Barwa, Ooredoo, Vodafone Qatar, Nakilat and Milaha.

In the junior bourse, Techno Q saw its shares appreciate in value.

Nevertheless, Qatar General Insurance and Reinsurance, Qatar Islamic Insurance, Ahlibank Qatar, Al Meera and Qatar Cinema and Film Distribution were among the shakers in the main market.

The foreign institutions’ net buying strengthened substantially to QR23.18mn compared to QR9.29mn the previous day.

The Gulf institutions turned net buyers to the tune of QR21.3mn against net profit takers of QR1.88mn on June 23.

The Arab individual investors’ net buying increased perceptibly to QR17.44mn compared to QR13.28mn on Monday.

The local retail investors were net buyers to the extent of QR3.9mn against net sellers of QR2.22mn the previous day.

The Arab institutions turned net buyers to the tune of QR0.28mn compared with no major net exposure on June 23.

However, the domestic funds’ net selling expanded considerably to QR52.59mn against QR20.15mn on Monday.

The Gulf individual investors’ net profit booking rose markedly to QR4.87mn compared to QR1.72mn the previous day.

The foreign retail investors were net sellers to the extent of QR4.87mn against net buyers of QR3.4mn on June 23.

The main market saw 46% surge in trade volumes to 329.37mn shares, 47% in value to QR687.97mn and 5% in deals to 26,645.

In the venture market, a total of 0.05mn equities valued at QR0.13mn changed hands across 19 transactions.