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ADX applied the newly reclassified consolidated index for the local markets in an organized move to improve the level of the local financial markets to be in line with the government competitive strategy according to the best practice in the financial sector.
Rashed Al Baloushi Deputy Chief Executive of ADX and Manager of Operations said that launching the new index of ADX is a step that would reflect the reality of the listed companies and its various activities which supports the studies and analytical researches logically and objectively.
He added, this move will coincide with the growing number of current companies which is a result of new IPO and new listing, which is one of the things necessary for stimulating domestic investment and attracting capital.
He noted that the newly reclassified consolidated Index which was approved by the Joint Committee between SCA and the local markets will address the gap in the classification and avoid the difficulty of determining the performance of those sectors.
He concluded by thanking those who had an active role in implementing this project whether represented by SCA, DFM and ADX.
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