AIRLINK 60.93 Increased By ▲ 1.23 (2.06%)
BOP 6.25 Decreased By ▼ -0.01 (-0.16%)
CNERGY 4.27 No Change ▼ 0.00 (0%)
DFML 15.90 Increased By ▲ 0.20 (1.27%)
DGKC 68.80 Decreased By ▼ -0.40 (-0.58%)
FCCL 17.90 Decreased By ▼ -0.45 (-2.45%)
FFBL 26.71 Decreased By ▼ -0.04 (-0.15%)
FFL 9.10 Decreased By ▼ -0.18 (-1.94%)
GGL 10.20 Decreased By ▼ -0.10 (-0.97%)
HBL 116.75 Increased By ▲ 0.85 (0.73%)
HUBC 114.20 Decreased By ▼ -0.20 (-0.17%)
HUMNL 6.67 Decreased By ▼ -0.13 (-1.91%)
KEL 4.89 No Change ▼ 0.00 (0%)
KOSM 5.32 Increased By ▲ 0.67 (14.41%)
MLCF 38.30 Decreased By ▼ -0.09 (-0.23%)
OGDC 123.70 Decreased By ▼ -1.60 (-1.28%)
PAEL 21.62 Increased By ▲ 0.06 (0.28%)
PIAA 11.15 Increased By ▲ 0.28 (2.58%)
PIBTL 5.89 Decreased By ▼ -0.13 (-2.16%)
PPL 112.70 Decreased By ▼ -1.40 (-1.23%)
PRL 28.19 Increased By ▲ 0.29 (1.04%)
PTC 10.80 Decreased By ▼ -0.10 (-0.92%)
SEARL 50.59 Decreased By ▼ -1.11 (-2.15%)
SNGP 67.15 Decreased By ▼ -1.11 (-1.63%)
SSGC 11.22 Decreased By ▼ -0.20 (-1.75%)
TELE 7.70 Decreased By ▼ -0.10 (-1.28%)
TPLP 11.52 Decreased By ▼ -0.08 (-0.69%)
TRG 71.79 Decreased By ▼ -1.08 (-1.48%)
UNITY 23.15 Decreased By ▼ -0.40 (-1.7%)
WTL 1.28 Decreased By ▼ -0.02 (-1.54%)
BR100 6,695 Increased By 46.6 (0.7%)
BR30 22,456 Decreased By -113.2 (-0.5%)
KSE100 65,083 Increased By 504.2 (0.78%)
KSE30 22,073 Increased By 184.4 (0.84%)

Morgan Stanley Capital International (MSCI) Inc in its results of the November 2023 index review notified that there is no change in constituents for Pakistan in the MSCI Frontier Market Index. However, in the small-cap index, four constituents have been removed, and four new ones have been added.

The changes to the MSCI Frontier Market (FM) index will be effective from November 30, 2023, it said.

The Pakistani companies added to the MSCI FM Small Cap indexes include Agha Steel Industries, AGP, Pak Suzuki Motor Co, and Sazgar Engineering Works. Meanwhile, the companies deleted are Faysal Bank, Kohat Cement, Maple Leaf Cement and Shell Pakistan.

The total number of constituents in the Small Cap index remains the same at 41.

“After this November 2023 Index Review, Pakistan’s weight in the Index reduced from 3.2% to 2.9%,” Topline Securities, a brokerage house, said in a note.

“As per the available information, the weight of a few other countries including Vietnam, Romania and Srilanka have been increased in a range of 0.17% to 1.81%,” said Topline.

“Due to this adjustment, we expect net outflows, but the quantum will be very small,” it added.

Back in August, MSCI in its results of the August 2023 index review announced the addition of a record 56 Pakistani companies as constituents on its Frontier Market (FM) Index and FM Small Cap Indexes.

In September 2021, Pakistan was downgraded from its status as an emerging market, a little over four years after it was reclassified from the Frontier Markets Index by MSCI.

The MSCI had said then that while the Pakistani equity market meets the requirements for market accessibility under the classification framework for Emerging Markets, it no longer meets the standards for size and liquidity.

Comments

200 characters