April 2009 “Islamic Market’s Measure” – Preliminary Report - Monthly Report On The Performance Of The Dow Jones Islamic Market Indexes

Based on the close of trading on April 27, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, gained 3.81% month-to-date, closing at 1635.99. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a gain of 4.61%, closing at 131.18.

• 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, increased 6.35%, closing at 1357.67. The Dow Jones Asian Titans 50 Index, in comparison, posted a gain of 10.20%, closing at 102.08.
• Measuring Europe, the Dow Jones Islamic Market Europe Titans 25 Index, which measures the performance of the 25 of the leading Shari’ah compliant stocks in Europe, closed at 1573.57, a gain of 4.93%, while the pan-European blue chip Dow Jones STOXX 50 Index gained 8.53%, closing at 1954.37.
• Measuring the performance of 50 of the largest Shari’ah compliant U.S. stocks, the Dow Jones Islamic Market U.S. Titans 50 Index increased, closing at 1707.91. It represents a gain of 2.94%. The U.S. blue-chip Dow Jones Industrial Average increased 5.47%, closing at 8025.00.

Asia: Performance of Dow Jones Islamic Market Versus Conventional Dow Jones Indexes

Middle East and GCC Regions
Dow Jones Islamic Market Indexes Versus Conventional Dow Jones Indexes

In April, the Dow Jones DFM Titans 10 Index, measuring the 10 largest and most liquid stocks listed on the Dubai Financial Market, closed at 2019.74. It is a gain of 0.77% month-to-date.

The Dow Jones Islamic Market Kuwait Index posted a gain of 17.28%, closing at 823.44. Its conventional counterpart index, the Dow Jones Kuwait Composite Index, was up, closing at 200.64. It represents a gain of 11.29%.

The Dow Jones Islamic Market Turkey Index closed at 1950.40, a performance of 7.95% month-to-date, while the Dow Jones Turkey Total Stock Market Index closed at 614.22, a gain of 17.67%.

Measuring the performance of Shari’ah compliant stocks of five of the Gulf Cooperation Council (GCC) member states, the Dow Jones Islamic Market GCC Index closed at 1107.01, a gain of 13.32%. The conventional Dow Jones GCC Index was up 9.98%, closing at 1172.26.

Other Markets and Asset Classes

The Dow Jones Islamic Market BRIC Equal Weighted Index increased 17.42%. It had a closing value of 1210.94. By comparison, the Dow Jones BRIC 50 Index closed at 374.63, a gain of 13.04%. The Dow Jones Citigroup Sukuk Index, which measures the performance of global bonds complying with Islamic investment guidelines, increased 8.25%, closing at 97.20. The Dow Jones Islamic Market Sustainability Index, which measures sustainable practice business of companies respecting the Shari’ah laws, increased 6.22%, closing at 1761.00. The conventional Dow Jones Sustainability Index gained 9.21% with a closing value of 727.81.

Global April 2009 Industries Winners and Losers

The three best performing Dow Jones Islamic Market Industry Indexes were Financials, Industrials and Technology with performances of 18.21%, 13.25% and 10.32%, respectively. The Dow Jones Islamic Market Health Care, Dow Jones Islamic Market Telecommunications and Dow Jones Islamic Market Utilities indexes were the three worst performing industry indexes with performances of -1.29%, 3.34% and 6.31%, respectively.