SAIR – May ’23: Pakistan’s weight estimated at 0.6pc in MSCI FM Index

KARACHI: In its latest Semi-Annual Review (SAIR), the MSCI has announced changes in the constituents of its global indices which will be effective from June 1, 2023.

There is no change for Pakistan in the MSCI FM Standard Index. Pakistan’s weight in MSCI FM Standard Index is estimated at 0.6 percent including ENGRO and OGDC being the two constituents.

Three (3) stocks including BAFL, INDU and, EPCL have been deleted from MSCI Small-Cap Index.

MSCI adds OGDC into Frontier Markets Index, HBL moves to Small Cap

Pakistan’s weight in the MSCI FM 100 Index is estimated at 2.1 percent with ENGRO being the largest (0.38 percent) while HBL and TRG being the smallest (0.2 percent each) companies.

Pakistan remained the second cheapest market in MSCI FM Index in terms of PE(x) and PB(x) multiples, an analyst at Arif Habib Limited said.

From a liquidity perspective, Pakistan is the third most liquid market in the MSCI FM Universe.

Copyright Business Recorder, 2023