(Bloomberg) -- Stocks in Abu Dhabi are poised to reach their highest since September 2014 after the main gauge’s largest constituent First Abu Dhabi Bank PJSC implemented a decision to raise its foreign ownership limit.

READ: Abu Dhabi’s FAB Rises as It Seeks to Lure More Foreign Investors

The lender’s shares gained as much as 4.8 percent on Sunday, the most in a month. The increased cap for foreigners could trigger passive inflows of about $730 million from investors tracking MSCI Inc. and FTSE Russell benchmarks by June, according to estimates by Mohamad Al Hajj, an equities strategist at EFG-Hermes in Dubai.

“FAB’s weight in the MSCI Emerging Markets index will increase from about 21 basis points to 32 basis points, putting it in the Top 15 banks in EM by weight, from number 33 currently,” he wrote.

MIDDLE EASTERN MARKETS:

• The ADX General Index rises as much as 2.2%
• In Dubai, Emirates NBD PJSC advances 1.3%
  • NOTE: The bank agreed to sell an additional 15.3m shares in Network International, with proceeds of 66.6 million pounds ($87 million)
  • READ: Dubai Islamic Bank Looking at Acquisitions Among Expansion Plans
• Saudi Real Estate Co. reported a full-year loss of 183 million riyals vs 132 million riyals profit a year ago; revised its dividend recommendation to no dividend
  • Stock falls as much as 6.6%, the most since Nov. 2018
  • The Tadawul All Share Index drops 0.2%, ending a 4-day winning streak
• Israel’s TA-35 Index adds 0.6%
  • 30 out of 35 members advance and 5 retreat

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