Qatar Exchange to introduce revamped index
21 Apr 2010
(MENANF) The Chief Executive Officer at Qatar Exchange said that the bourse will reshuffle its leading stocks index DSM 20 to boost liquidity and transparency, The Peninsula reported.
According to the CEO, the new QE index will launch on May 6 with stock weightings determined by companies’ free-float capitalization and their average daily traded value. These will be measured at the market close on April 29.
Qtel, the fourth-largest listing on the Qatar bourse but which has been excluded from the leading index so far, will be one of five stocks added to the index, the CEO affirmed.
Qatar Electricity and Water, the ninth-largest stock by market capitalisation, Vodafone Qatar, Gulf International Services and Qatar Insurance are the other companies joining the new index.
Qatar’s exchange, which in 2009 entered a strategic partnership with NYSE Euronext, has gained 7.7 percent this year to be the third-best performing Gulf Arab benchmark, behind Saudi Arabia and Oman.
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