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Al Meera Consumer Goods and Qatar Insurance will replace al khaliji and Mazaya Real Estate from the 20-stock Qatar Index.
The index recast will be effective from October 1, a spokesman of the bourse confirmed.
The other 18 entities will continue to be QNB, Industries Qatar (IQ), Ooredoo, Commercial Bank, Qatar Islamic Bank (QIB), Qatar Electricity and Water, Doha Bank, Nakilat, Barwa, Milaha, United Development Company (UDC), International Islamic, Gulf International Services, Qatari Investors Group, Vodafone Qatar, Alijarah Holding and Widam Food.
Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continue to reflect the purpose of the index.
The maximum weight a single stock can hold within QE index as of the rebalance date is 15%. If during the index review any stock is found to exceed this weight, then the stock’s market value is capped and any excess weight is distributed proportionately among the remaining index constituents.
The scheduled review of qualifying stocks for the QE All Share has also taken place. The QE All Share Index contains listed stocks with annual share velocity greater than 1%.
A total of 40 stocks has been included in QE All Share Index (and related sector index) calculation as of October 1. Ahlibank Qatar has joined the index while Mannai Corporation has been removed, the spokesman said. The bourse has seven sectors — banks and financial services, insurance, industrials, real estate, telecom, transportation and consumer goods and services in the ‘All Share Index’.
The newly introduced Al Rayan Islamic Index also witnessed revision with 18 entities. Qatar National Cement has joined the index.
The other constituents are IQ, Rayan, Barwa, UDC, QIB, Qatari Investors Group, International Islamic, Vodafone Qatar, Al Meera, Gulf Warehousing, Alijarah Holding, Mazaya Qatar, Widam Food, Qatar Industrial Manufacturing, Qatar Islamic Insurance and Zad Holding.
