Salik, ADNOC Gas stocks join influential MSCI UAE Index

Dubai: The Dubai toll-gate operator Salik has been included in the influential ‘MSCI UAE Index’, which is a tracker of some of the country’s blue-chip stocks. The Salik confirmation comes just after it announced upbeat Q1-2025 numbers, helped by a combination of factors that includes its recent rollout of peak and off-peak pricing.

In Abu Dhabi, ADNOC Gas is the other entrant to the MSCI UAE Index. It becomes the third ADNOC company to be part of it.

What being in the MSCI UAE Index means is better visibility for these listed stocks with global fund managers. In recent weeks, foreign institutional inflows into UAE stocks have been on the rise.

“MSCI’s UAE Index offers global investors ease of access and a compelling opportunity to capitalize on the UAE’s thriving equity market,” said Ibrahim Sultan Al Haddad, CEO of Salik.  

“This milestone is a testament to our performance and strategic achievements since listing on DFM, in particular the strength of our business model, our unique value proposition and robust financial track record. Salik remains focused on its ambition to become a global leader in providing smart and sustainable mobility solutions.”

On DFM, the Salik stock is at Dh5.45, having gained 6.86% in the last month – and 5.83% in the last 5 days.

ADX-listed ADNOC Gas is the other entrant to the MSCI UAE Index. The inclusion takes effect June 2.

The stock is at Dh3.27, having gained a near 10% in the last month.

This comes after the ADNOC entity's successful $2.84 billion marketed offering, which raised its free float by 80% and increased the stock's average daily trading volume six-fold.

"Inclusion in the Index is expected to increase cash inflows by between $300 million to $500 million and attract more international institutional investors," said an ADNOC Gas statement.

"The inclusion supports our ambition to attract a broader and more diversified base of institutional investors and should drive greater liquidity in ADNOC Gas stock," said Fatema Mohamed Al Nuaimi, CEO at ADNOC Gas.