Cairo – Mubasher: Beltone Research on Wednesday projected that the Morgan Stanley Emerging Markets Index’s (MSCI) review for the Egyptian market will remain unchanged.

The MSCI’s anticipated review, scheduled to for disclosure on 13 November, suggests that Oriental Weavers Carpet will be removed from the MSCI low carbon indexes to be replaced by Qalaa Holdings, according to a recent research note.

Oriental Weavers’ stock is expected to exit the index as its modified market value amounts to $118 million based on free-float shares, versus a minimum market value of $122 million, Beltone highlighted.

The research company noted that Qalaa Holdings is the main candidate that may replace Oriental Weavers on the index in case the household durables firm did not fulfill the minimum value of free-float shares.

In February, Eastern Co was added to the MSCI Egypt global standard index, replacing EFG Hermes.

Meanwhile, EFG Hermes replaced ElSewedy Electric and moved to the small-cap index.

The MSCI EM Index includes 23 countries, accounting for 10% of global markets.