BSF Capital anticipates Makkah Construction stock to be reduced from the MSCI Saudi Arabia Standard Index to the Small Cap Index throughout the November 2026 routine index evaluation.
United International Holding Co. (Tasheel) and Bawan deal with a high possibility of exemption from the Small Cap Index. In other places, options stock stays a medium-probability prospect for addition, BSF Capital stated in a current report.
The modifications will work on Dec. 1, 2026.
The research study company described that the anticipated downgrade of Makkah Construction is because of its overall market capitalization reaching $3.56 billion since October 29, 2026, standing 13% listed below the approximated $4.11 billion cutoff needed to keep Standard Index addition.
The prospective downgrade is most likely to set off outflows of SAR 796 million from emerging markets funds, albeit partly balanced out by inflows of around SAR 292 million from small-cap funds, it included.
BSF Capital included that there is an extremely low likelihood of a downgrade for ADES stock, as its free-float-adjusted market capitalization stands at $1.55 billion, topping the $1.38 billion retention limit. If reduced, it would activate about SAR 715 million in outflows from emerging markets funds, partly balanced out by inflows of around SAR 263 million from small-cap funds.
The probability of Petro Rabigh being consisted of in the Standard Index is extremely low, following its exemption from the Small Cap Index in August 2026. Its free-float-adjusted market capitalization of $1.98 billion stands nearly 5% listed below the $2.07 billion Standard Index entry limit. Addition would draw in around SAR 913 million in passive inflows.
BSF Capital anticipates Tasheel and Bawan to be omitted from the Small Cap Index with a high likelihood, while the probability of Arabian Cement exemption is thought about low.
It kept in mind that Tasheel’s market capitalization stood at $410 million, compared to $430 million for Bawan, positioning them 17% and 13% listed below the Small Cap retention cap, respectively. Arabian Cement’s market capitalization struck $480 million, dipping somewhat listed below the retention limit throughout the last days of the information choice window.
The research study company approximated that the resulting financial investment outflows from the exemption of these business would be restricted, at roughly $9 million to $11 million each.
BSF Capital anticipates options to be consisted of in the Small Cap Index with a medium likelihood, following a decrease in its overall market capitalization to $5.86 billion, listed below the approximated $6.16 billion limit for the Standard Index.
It included that the business’s free-float-adjusted market capitalization stood at $1.1 billion, above the limit needed for addition in the Small Cap Index. The anticipated addition might produce financial investment inflows of around SAR 187 million.
BSF Capital approximates that performing all high- and medium-probability modifications might lead to net foreign financial investment outflows of around SAR 386 million.
BSF Capital – MSCI Saudi Arabia Standard Index
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