Dubai: The Dubai Financial Market (DFM) officially launched its new index, the DFM General Index (DFMGI), yesterday.
DFM also announced the regrouping of the 43 listed companies into nine sectors, namely, banks, investment and financial services, insurance, real estate and construction, transportation, materials, consumer staples, tele-communication and utilities.
Earlier, all 43 companies were grouped into five sectors, namely banking, insurance, investment, services and industry.
DFM also announced the official launch of nine indices for the nine sectors yesterday.
The live feed of DFMGI and the nine sector indices will be available on DFM's website as well as with intermediaries who provide content to the media.
Eisa Kazim, director-general of DFM, said: "We are glad to officially launch the DFMGI. Our technology team and the Index team have done a splendid job.
"The new DFMGI and the sector indices will provide a balanced picture of the market's performance and it will be in sync with global trends."
The new sector structure is a reflection of DFM's growth and diversity of listed companies' profiles and potential listings.
DFM has conducted studies of the international standards adopted by stock markets in other Arab countries as well as other parts of the world.
The new sector structure will also allow investors to compare activities of companies within the same sector.
Investors will also be able to compare the activity of a particular sector against another sector by benchmarking with the DFMGI and the nine sector indices.
