Doha, April 09 (QNA) - Qatar Stock Exchange index surged at the close of this week's trading, rising by 4.05 percent to gain 414.50 points and reach 10,641.68 points, supported by positive market sentiment following the announced two-week ceasefire agreement between the United States and Iran. The rally was driven by broad-based gains across all sectors, led by transport, which jumped 7.33 percent, followed by industry at 6.81 percent, banking and financial services at 2.98 percent, consumer goods and services at 2.87 percent, telecommunications at 2.65 percent, insurance at 2.56 percent, and real estate at 1.67 percent.

In this context, financial analyst and Head of Strategy at Fortress Investment,  Mostafa Abouela, said QSE index responded quickly to the ceasefire and the relative calm in the region, closing the week with gains exceeding 400 points. He noted that easing tensions boosted investor and trader appetite to capitalize on opportunities, particularly amid attractive stock price levels.

The market capitalization of exchange rose from QAR 604.856 billion last week to around QAR 629.704 billion, marking gains of approximately QAR 24.848 billion.

The analyst added that recent geopolitical pressures in the Middle East had weighed heavily on global markets, and that any signs of positive developments or de-escalation tend to have a clear impact on investment instruments and equity markets.

Trading activity remained strong over the past week, with total volume exceeding 1.010 billion shares, valued at more than QAR 2.311 billion, across 117,865 transactions spanning all sectors.

 Mostafa Abouela added that financial markets moved positively, with QSE index surpassing the 10,600-point level, and expectations of a new upward wave toward 11,000 points if positive developments continue and the ceasefire paves the way for a broader easing of regional tensions. (QNA)