Qatar’s stock market sees uptick in value and number of trades as Iran-Israel ceasefire comes into effect following Al-Udeid air base strikes.
Qatar’s stock market shares are witnessing a gain as the Qatar Stock Exchange soared with a 1.93% gain by Tuesday afternoon, as the ceasefire between Iran and Israel was announced past midnight.
The index had closed at 10,332.82 points on June 23, surging by over 52 points as markets across the Gulf showed progress following a slump in the immediate aftermath of Israeli strikes on Iran on June 13.
Still, 51 entities are on the gaining side after U.S. President Donald Trump announced a ceasefire between Iran and Israel, which came into effect early on Tuesday. Only five underwent a marginal slump, according to QSE’s live figures.
Top gainers included Widam with a 7.52% uptick, followed by the Qatar German for Medical Devices, Lesha Bank and Ezdan Holding at the time of writing.
Qatar German for Medical Devices had closed as the top gainer with 4.1% upon closing on June 23, followed by Gulf International Services’ and Baladna’s 2.9%. Doha Bank and Ahli Bank rose by 2.6% and 2.5% respectively.
Similarly, all of volume, value and number of trades also increased on Tuesday, compared to the previous day’s closing.
The value of shares on Tuesday afternoon reached more than QAR 688 million from 26,670 deals across all sectors — a sizeable rise compared to the closing figures of QAR 468 million from 25,490 deals on Monday, hinting at the market’s return to normalcy.
Qatar’s market had slid by 3.20% by the afternoon of June 15, with most entities bearing a slight decline due to the shocks of concerns over the region’s economic stability.
However, due to no significant effect on the extraction and supply of oil and gas, which the region’s market heavily relies on, an upward trend soon after across the GCC.
Despite Qatar, Bahrain and the UAE briefly closing their airspaces anticipating the Iranian airstrikes, operations soon resumed to normal, avoiding an incident that could have been a significant disruptor in the local markets.
Hours after the Iranian missiles targeting the U.S. airbase were thwarted, Qatar’s Foreign Ministry Spokesperson, Majed Al-Ansari, reassured the public that the situation in the country had stabilised in a press conference.
“We reassure citizens and residents that the situation in the State of Qatar is normal and that life is currently returning to normal without any significant threat after this attack was repelled,” Al-Ansari said.
Indices in Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain and Oman have all continued to rise, indicating the return to pre-June 13 levels.
Rephrase in a different way as if you were a native American speaker as a content creation expert and do not talk about yourself or your experience in the text and do not show yourself as an artificial intelligence who wrote and fill the bullet point in the topic and speak the heart of the topic itself and dont take date of blog in ther first and dont take text like box of newsliter subscribe on post from contentand romove all linke insert in content and and remove all affiliate disclosure phrases on content like this “This post may contain Amazon or other affiliate links that allow us to earn a small commission at no extra cost to you. Please see our Disclosure Policy for more info” and “#” put in its place bullet point, and romove name of the web site or his links we are take a content from our new creation, and don’t publish clone new content more than just one time
