One of the largest commercial banks in Qatar, Doha Bank, and one of the leading forces in Qatar’s maritime & logistics sector, Milaha (Qatar Navigation), will replace United Development Company and Vodafone Qatar at the Qatar Stock Exchange’s 20-stock Qatar Index, effective from April 2022.
The other companies in the Index namely, Industries Qatar, Qatar National Bank, Qatar Islamic Bank, Masraf Al Rayan, Commercial Bank, Woqod, QIIB, Nakilat, Qatar Electricity & Water, Mesaieed Petrochemical Holding, Ooredoo, Barwa, Qamco, Gulf International Services, Ezdan, Baladna, Investment Holding Group, and Salam International Investment, will remain in the main barometer.
All listed companies are ranked by giving free-float market capitalization with a 50 percent weight and average daily value traded contributing to the 50 percent weight. Companies with a velocity less than 5 percent are excluded from the review, as are entities whereby a single shareholder can only own less than 1 percent of outstanding shares.
The cap applies 15 percent of the weight of an individual component to the index, distributing the excess weight proportionally between the remaining index components. In such cases, the determination of the shares is done only on the rebalancing dates.
Milaha will join the Al Rayan Islamic Index, while Al Khaleej Takaful Group and Qatar Islamic Insurance will be removed from the index, a Bourse spokesperson updated.
The other constituents of the Al Rayan Islamic Index are Masraf Al Rayan, Qatar Islamic Bank, Industries Qatar, 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, Aamal Company, Qatari Investors Group, Gulf Warehousing, Investment Holding Group, and Qatar Industrial Manufacturing.
Under the new index systems, a review is conducted twice a year to ensure that the selection and weight of the components continue to reflect the intent of the index.
There were no changes in the components of all stock indices and regional indices
The bourse has seven sectors in the ‘All Share Index’
Banks and financial services (with 12 constituents)
Insurance (6)
Industrials (10)
Real estate (4)
Telecom (2)
Transportation (three)
Consumer goods and services (10)
The index free-float for a stock is total outstanding shares minus shares directly owned by the government and its affiliates, those held by founders and board members, and shareholdings above 10 percent or greater of the total outstanding (except those held by pension funds in the country).
