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MSCI to downgrade Astor Enerji and Sabanci Holding to Turkey Global Small Cap Index, remove 18 Turkish stocks

By Reuters News

Nov 12 (Reuters) - Global index provider MSCI is set to downgrade Astor Enerji ASTOR.IS and Sabanci Holding SAHOL.IS shares from its global standard index to its small-cap index, while deleting 18 other Turkish stocks from the latter, it said on Wednesday.

  • The following shares are set to be deleted from the small-cap index, MSCI said: Ahlatci Dogal Gaz AHGAZ.IS, Altinkilic Gida ALKLC.IS, Baticim Bati BTCIM.IS, Baticim Cimento BSOKE.IS, Eczacibasi Ilac ECILC.IS, Gen Ilac GENIL.IS, Hektas Ticaret HEKTS.IS, Isiklar Enerji IEYHO.IS, LDR Turizm LIDER.IS

  • Lydia Holding LYDHO.IS, Margun Enerji MAGEN.IS, Odine Solutions ODINE.IS, Pasifik Eurasia Lojistik PASEU.IS, Peker Gayrimenkul PEKGY.IS, Ral Yatirim RALYH.IS, Selcuk Ecza Deposu SELEC.IS, Tera Yatirim Teknoloji Holding TEHOL.IS and Turk Traktor TTRAK.IS will also be removed from the small-cap index

  • Changes will be effective as of the close of business on November 30

  • The downgrades and deletions follow MSCI's October decision to freeze certain index changes

  • MSCI also warned last month that if sufficient progress was not made by June 2027, it could potentially downgrade the market from emerging market to frontier market status

  • Turkey's equity market has faced investor scrutiny over free-float calculations and suspected coordinated trading in some stocks, which triggered a decision by the market watchdog to liquidate 131 funds with over $20 billion in assets

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