Qatar Insurance will replace Salam International in the Qatar Stock Exchange's (QSE) main barometer QE Index, effective October 1.
Aamal will be removed from the QE Al Rayan Islamic Index.
Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continues to reflect the purpose of the index.
The other constituents of the main barometer will remain Industries Qatar, QNB, Qatar Islamic Bank, Masraf Al Rayan, Commercial Bank, Doha Bank, Milaha, Woqod, QIIB, Nakilat, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Ooredoo, Barwa, Qamco, Gulf International Services, Ezdan, Baladna and Investment Holding Group.
All listed companies are ranked by giving free float market capitalisation with a 50% weight and average daily value traded also 50% weight. Companies with velocity less than 5% are excluded from the review, as are entities whereby a single shareholder can only own less than 1% of outstanding shares.
A 15% cap is applied to an individual constituent's weight in the index, with the excess weight distributed proportionately among the remaining index constituents. In such cases, the fixing of shares figures takes place only at rebalance dates.
The index free-float for a stock is total outstanding shares minus shares directly owned by government and its affiliates, those held by founders and board members and shareholdings above 10% or greater of the total outstanding (except those held by those held by pension funds in the country).
The other constituents of the Al Rayan Islamic Index are Masraf Al Rayan, Qatar Islamic Bank, Industries Qatar, Milaha, Woqod, Ooredoo, Mesaieed Petrochemical Holding, QIIB, Barwa, Qatar Electricity and Water, United Development Company, Qamco, Vodafone Qatar, Ezdan, Al Meera Consumer Goods, Baladna, Qatar National Cement, Medicare Group, Qatari Investors Group, Gulf Warehousing, Investment Holding Group and Qatar Industrial Manufacturing.
In the latest communique, the QSE also said Ahli Bank will join QE All Share Index and QE Banks and Financial Services Sector Index, while Qatar General Insurance and Reinsurance will be removed from QE All Share Index and QE Insurance Sector Index.
The bourse has seven sectors – banks and financial services (with 12 constituents), insurance (six), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (10) in the ‘All Share Index’.
Aamal will be removed from the QE Al Rayan Islamic Index.
Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continues to reflect the purpose of the index.
The other constituents of the main barometer will remain Industries Qatar, QNB, Qatar Islamic Bank, Masraf Al Rayan, Commercial Bank, Doha Bank, Milaha, Woqod, QIIB, Nakilat, Qatar Electricity and Water, Mesaieed Petrochemical Holding, Ooredoo, Barwa, Qamco, Gulf International Services, Ezdan, Baladna and Investment Holding Group.
All listed companies are ranked by giving free float market capitalisation with a 50% weight and average daily value traded also 50% weight. Companies with velocity less than 5% are excluded from the review, as are entities whereby a single shareholder can only own less than 1% of outstanding shares.
A 15% cap is applied to an individual constituent's weight in the index, with the excess weight distributed proportionately among the remaining index constituents. In such cases, the fixing of shares figures takes place only at rebalance dates.
The index free-float for a stock is total outstanding shares minus shares directly owned by government and its affiliates, those held by founders and board members and shareholdings above 10% or greater of the total outstanding (except those held by those held by pension funds in the country).
The other constituents of the Al Rayan Islamic Index are Masraf Al Rayan, Qatar Islamic Bank, Industries Qatar, Milaha, Woqod, Ooredoo, Mesaieed Petrochemical Holding, QIIB, Barwa, Qatar Electricity and Water, United Development Company, Qamco, Vodafone Qatar, Ezdan, Al Meera Consumer Goods, Baladna, Qatar National Cement, Medicare Group, Qatari Investors Group, Gulf Warehousing, Investment Holding Group and Qatar Industrial Manufacturing.
In the latest communique, the QSE also said Ahli Bank will join QE All Share Index and QE Banks and Financial Services Sector Index, while Qatar General Insurance and Reinsurance will be removed from QE All Share Index and QE Insurance Sector Index.
The bourse has seven sectors – banks and financial services (with 12 constituents), insurance (six), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (10) in the ‘All Share Index’.
