Islamic stock markets show growth
The Dow Jones Islamic Market Titans 100 Index finished September up 2.76 per cent, according to data compiled by S&P Dow Jones Indices. The index measures the performance of 100 of the world’s leading Shari’ah-compliant stocks.
The Dow Jones Global Titans 50 Index, which measures the world’s 50 largest companies, posted a September gain of 2.95 per cent.
Regionally, the Dow Jones Islamic Market Asia/Pacific Titans 25 Index, which measures the performance of 25 of the leading Shari’ah-compliant stocks in the Asia/Pacific region, advanced 4.40 per cent in September; the Dow Jones Asian Titans 50 Index increased 3.06 per cent.
In Europe, the Dow Jones Islamic Market Europe Titans 25 Index, which measures the performance of the 25 the leading Shari’ah-compliant stocks in Europe, increased 3.16 per cent in September; the Dow Jones Europe Titans 80 Index, which measures the performance of 80 blue-chip stocks traded in the developed markets of Europe, gained 2.51 per cent.
In the U.S., the Dow Jones Islamic Market U.S. Titans 50 Index, which measures 50 of the largest Shari’ah-compliant U.S. stocks, increased 2.38 per cent in September; the U.S. blue-chip Dow Jones Industrial Average increased 2.65 per cent.
Middle East and GCC Regions
The Dow Jones DFM Titans 10 Index, measuring the 10 largest and most liquid stocks listed on the Dubai Financial Market increased 1.34 per cent in September.
The Dow Jones Islamic Market Kuwait Index closed up 6.11 per cent in September.
The Dow Jones Islamic Market Turkey Index rose 0.75 per cent, while the Dow Jones Turkey Total Stock Market Index closed down 0.19 per cent in September.
The Dow Jones Islamic Market GCC Index, which measures the performance of Shari’ah-compliant stocks for five of the Gulf Cooperation Council (GCC) member states, increased 3.31 per cent in September; the conventional Dow Jones GCC Index finished up 3.38 per cent.
Other Markets and Asset Classes
In September, the Dow Jones Islamic Market BRIC Equal Weighted Index surged 7.92 per cent while, the Dow Jones BRIC 50 Index advanced 5.61 per cent.
The Dow Jones Sukuk Price Return Index, which measures the performance of global bonds complying with Islamic investment guidelines, rose 0.17 per cent in September.
The Dow Jones Islamic Market Sustainability Index, which measures sustainable practice business of companies compliant with Shari’ah laws, increased 2.99 per cent in September while the conventional Dow Jones Sustainability Index gained 3.05 per cent.
September Industries Winners and Losers
All DJIM Industry Indices closed up for the month of September. The three top-performing Dow Jones Islamic Market Industry Indices were Basic Materials, Health Care and Oil & Gas up 7.25 per cent, 350 per cent and 3.31 per cent, respectively. The Dow Jones Islamic Market Industrials, Dow Jones Islamic Market Technology and Dow Jones Islamic Market Consumer Goods were the three bottom-performing industry indexes, with gains of 1.94 per cent, 1.87 and 1.21 per cent, respectively.
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