UDC, Vodafone to replace Baladna, Ezdan in QE Index from April 1

United Development Company (UDC) and Vodafone Qatar will replace Baladna and Ezdan Holding in the Qatar Stock Exchange’s main 20-stock QE index, effective April 1.

The other constituents of the main barometer will remain QNB, Industries Qatar, Qatar Islamic Bank, Commercial Bank, Masraf Al Rayan, Woqod, QIIB, Nakilat, Ooredoo, Qatar Electricity and Water, Milaha, Mesaieed Petrochemical Holding, Dukhan Bank, Barwa, Qamco, Doha Bank, Gulf International Services and Estithmar Holding. 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.

Lesha Bank and Medicare will be removed from the Al Rayan Islamic Index, whose other constituents will be Industries Qatar, Qatar Islamic Bank, Masraf Al Rayan, Woqod, QIIB, Ooredoo, Dukhan Bank, Milaha, Mesaieed Petrochemical Holding, Qatar Electricity and Water, Barwa, Qamco, Vodafone Qatar, United Development Company, Baladna, Ezdan, Estithmar Holding, Qatari Investors Group, Al Meera, Medicare Group,

Qatar First Bank and Qatar National Cement.

Qatar Cinema and Meeza will join the QE All Share Index and Consumer Goods and Services Index.

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.

Any qualifying component exceeding 15% weight in the index as of market close March 28, 2023 will have its weight capped at the 15% level and excess weight allocated to remaining stocks proportionately.

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 bourse has seven sectors – banks and financial services (with 13 constituents), insurance (seven), industrials (10), real estate (four), telecom (two), transportation (three) and consumer goods and services (12) in the ‘All Share Index’.