Tadawul weight on FTSE Russell forecast to reach 3.1% after semi-annual review: NCB Cap

Tadawul trading screen

The Saudi Stock Exchange's (Tadawul) weight on FTSE Russell Emerging Market Index is expected to reach 3.1% after the semi-annual review, NCB Capital said in a recent report.

After including Yamama Cement Co. (YCC) in the semi-annual review, the number of Saudi companies listed on the index will reach 49.

The weight of Saudi Airlines Catering Co. on the index increased, while SABIC Agri-Nutrients Co. and Saudi British Bank (SABB) declined.

NCB Capital expected foreign cashflow of SAR 31.2 million as a result of the changes.

According to data compiled by Argaam, London-based securities benchmark provider FTSE Russell will announce the results of its semi-annual review of indices by the close of trading on Friday, March 19, 2021.

The results will be effective from Monday, March 22.

Changes are expected to be implemented in Tadawul on Thursday, March 18.

FTSE Russell included Yamama Cement Co. to the Global Equity Index All-Cap Index and Mid-Cap Index.

It introduced changes to the FTSE Global Micro Cap Index Series (Micro Cap) by adding Al-Omran Industrial Trading Co., Sadr Logistics Co., Swicorp Wabel REIT Fund and Arab Sea Information System Co. However, Al-Rajhi Company for Cooperative Insurance was removed from the index.