Medicare Group will replace Mazaya Qatar in the Qatar Stock Exchange’s main barometer, effective from April 1, 2017.
In its semi-annual review of the indices, the bourse also announced that Qatar First Bank (QFB) will figure both in Al Rayan Islamic Index and All Share Index.
The main barometer 20-stock Qatar Index will continue to have QNB, Industries Qatar (IQ), Ooredoo, Masraf Al Rayan, Commercial Bank, Qatar Islamic Bank (QIB), Qatar Electricity and Water, Doha Bank, Nakilat, Barwa, Ezdan, Milaha, Qatar Insurance, Qatari Investors Group, United Development Company (UDC), Gulf International Services, QIIB, Aamal Company and Vodafone Qatar.
Apart from QFB, the other constituents of Al Rayan Islamic Index are IQ, Masraf Al Rayan, Barwa, QIB, UDC, QIIB, Qatari Investors Group, Vodafone Qatar, Aamal Company, Ezdan, Gulf Warehousing, Al Meera, Qatar National Cement, Medicare Group, Mazaya Qatar, Qatar Industrial Manufacturing Company and Widam Food (formerly Mawashi).
The bourse has seven sectors — banks and financial services (with 13 constituents), insurance (five), industrials (eight), real estate (four), telecom (two), transportation (three) and consumer goods and services (nine) in the ‘All Share Index’, which comprises listed stocks with annual share velocity greater than 1%.
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 maximum weight a single stock can hold within Qatar index 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. Recently, QSE revised its key benchmark methodology, stipulating that at least 80% of the trading days and a minimum of 5% annualised velocity during the final quarter of the 12-month review period.
The changes to the index methodology of QSE Index following a decision by QSE Index Committee and the approval of the Qatar Financial Markets Authority. The decision by the index committee is designed to enhance the tradability of the index and ensure that consistent liquidity is a determinant of index inclusion.
Business / Business
Medicare Group to replace Mazaya Qatar in QSE’s key index revision from April 1
The maximum weight a single stock can hold within Qatar index 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.
