Al-Ahli Capital: Saudi bank added to FTSE Russel in March

FTSE Russel index has announced some changes for semi-annual revision of March 2022. These changes included investment standard into 12 companies (such as SABIC and STC), and excluding others (sucvh as AlHokair).

According to Al-Ahli capital, number of companies listed on FTSE Russel is the same at 53, but FTSE EM is expected to rise slightly from 4.5% to 4.7%.

Al-Ahli Capital has estimated also that the index will attract inflows of (SR 2.1 – 2.4 billion), mostly to SABIC (by SR 885 million) and STC (by SR 400 million), while ACWA Power and AlHokair will have outflows of SR 80 million and SR 30 million respectively.

The company sees that Saudi Investment Bank has been added to the index with inflows of SR 250 million equals 8-days trading.