Signs of Iran war coming to an end had its reflection on the Qatar Stock Exchange (QSE), which Wednesday saw its key index surge as much as 145 points and capitalisation add in excess of QR9bn.

A higher than average demand in the banking counter led the 20-stock Qatar Index gain 1.38% to 10,649.25 points, although it touched an intraday low of 10,523 points.

The market was largely treading a flat course for most part of the session but strong buying support lifted the sentiments toward the end of the session. Year-to-date losses truncated to 1.05%.

About 85% of the traded constituents extended gains to investors in the main bourse, whose capitalisation swelled QR9.02bn or 1.44% to QR637.38bn, mainly owing to large and midcap segments.

The foreign institutions’ substantially weakened net profit booking had its influence on the main market, whose trade turnover and volumes were on the rise.

The local retail investors’ lower net selling also had its impact on the main bourse, which saw as many as 0.02mn exchange traded funds (sponsored by AlRayan Bank and Doha Bank) valued at QR0.11mn trade across 27 deals.

The Arab institutions were seen bullish, albeit at lower levels, in the main market, which saw as many as 10 sovereign sukuks valued at QR0.1mn change hands across one transaction.

The Islamic index was seen gaining slower than the main barometer of the main bourse, which saw no trading of sovereign bonds.

The Total Return Index rose 1.38%, the All Share Index by 1.33% and the Al Rayan Islamic Index by 1.34% in the main bourse, which saw no trading of treasury bills.

The industrials sector index shot up 2.38%, banks and financial services (1.35%), transport (1.15%), real estate (1.09%), insurance (0.92%) and consumer goods and services (0.48%); while telecom fell 0.27%.

As many as 45 gained, while only five decreased and three were unchanged in the main market.

Major movers in the main market included QLM, Industries Qatar, Doha Insurance, Widam Food, Qamco, QNB, Qatar Islamic Bank, Dukhan bank, Salam International Investment, Baladna, Estithmar Holding, Gulf International Services, Ezdan, Nakilat and Gulf Warehousing. In the juniour bourse, Techno Q saw its shares appreciate in value.

Nevertheless, Mosanada Facilities Management, Meeza, Al Mahhar Holding, Ooredoo and Al Meera were among the shakers in the main market.

The Gulf funds’ net buying increased noticeably to QR5.99mn compared to QR2.41mn the previous day. The Arab institutions were net buyers to the tune of QR0.02mn against no major net exposure on May 5.

The foreign institutions’ net selling decreased substantially to QR2.18mn compared to QR29.31mn on Tuesday.

The Qatari individuals’ net selling shrank significantly to QR6.73mn against QR19.51mn the previous day.

The Gulf retail investors’ net profit booking eased marginally to QR0.52mn compared to QR0.95mn on May 5.

However, the Arab individuals turned net sellers to the extent of QR4.77mn against net buyers of QR4.08mn on Tuesday.

The foreign retail investors were net sellers to the tune of QR1.2mn compared with net buyers of QR0.92mn the previous day.

The domestic funds’ net buying weakened drastically to QR9.39mn against QR42.39mn on May 5.

The main market saw 58% surge in trade volumes to 189.9mn shares, 49% in value to QR487.01mn and 27% in deals to 26,609.

In the venture market, a total of 0.06mn equities valued at QR0.14mn changed hands across 48 transactions.

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