Global Investment House “Global” has announced the launch of new Bahrain Stock Exchange indices, part of Global’s series of indices, leveraging the need to track the performance of Bahraini stocks.
Mr. Omar M. El-Quqa, CFA, Executive Vice President at Global, said, “ these new indices leverage the need for tracking the performance of Bahraini stocks in-line with the great interest the investors are showing in this market, considering the amount of foreign, GCC and Middle East banks and financial institution that the kingdom attracts.”
On the reasons behind Global’s issuing of these indices, he explained “Global has already highlighted the flourishing economy and financial situation that the Bahraini market is currently witnessing. Also the strategic location of the kingdom along with it being the financial center of the GCC which is currently flourishing as the oil prices goes higher, has given it special importance.”
Mr. El-Quqa added that Being one of the most open & well regulated markets in the GCC has helped Bahrain attract investors from all over the world. “As the Bahraini economy continues to grow and becomes stronger, an index to act as a benchmark for portfolio managers and investors interested in Bahraini stocks, in evaluating their performance has become necessary,” he said.
“Hence, Global composed a special index to track the performance of the Bahraini stocks under the name of “Global Bahraini Stocks Index”. Also special sectoral indices have been built to track the performance of each of the Bahraini sectors individually,” he elaborated.
Such an index should help in enhancing the market, as it will work side-by-side on developing more interest among the foreign investors and direct them towards the Bahraini stocks, Global EVP affirmed.
Global Indices of Bahrain Stock Exchange comprises of all Bahraini stocks listed on the Bahrain Stock Exchange, currently 39, distributed among eight sectors. Besides the Bahraini Stocks Index, eight sectoral indices have been built to track the performance of each of the market sectors individually, and they are; The Commercial Banks Index, Investment Index, Preferred Shares Index, Closed Companies Index, Insurance Index, Services Index, Hotels & Tourism Index and Industrial Index. Non-Bahraini Sector was excluded due to its very low liquidity and the rare change in its components.
