The MSCI November 2025 semi-annual index review brought four inclusions of UAE firms and two deletions, with all changes effective after market close on 24 November 2025, according to MSCI’s Global Standard (pdf) and Small Cap Indexes Review (pdf).

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Adnoc Logistics & Services was the only UAE stock added to the MSCI Emerging Markets Index, following its USD 317 mn follow-on offering in August, which lifted its freefloat to roughly 22% and quadrupled average daily trading volumes, it said in a press release (pdf). The move makes it the fourth Adnoc unit to be added to the benchmark, joining Adnoc Gas, Adnoc Drilling, and Adnoc Distribution. Broker estimates cited in the company’s statement suggest the inclusion could attract more than USD 200 mn in passive inflows.

Other additions: On the MSCI Global Small Cap Index, Tabreed, Sharjah Islamic Bank were added after meeting size and liquidity requirements under MSCI’s methodology. EGX- and ADX-listed Orascom Construction was also added to the index, after having transferred its shares from Nasdaq Dubai in September.

Exits: Abu Dhabi National Hotels and Ras Al Khaimah Ceramics were dropped from the Small Cap Index due to lower freefloat and relative liquidity.

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