The Morgan Stanley Capital International (MSCI) announced the outcome of its Semi-Annual Index Review (SAIR) on Wednesday.

Pakistan now has a weight of 0.023 percent in MSCI EM as compared to 0.016pc previously. Additionally, Pakistan's weight in the small cap index has been revised to 0379pc.

Lucky Cement (LUCK) has been added to the MSCI Pakistan Index under MSCI Global Standard Indexes while Oil and Gas Development Company (OGDC) has been removed from it.

“We estimate inflows in the Lucky Cement to the tune of USD 39.65 million (6.89 million shares of last closing price) while we estimate outflows in OGDC to clock in at USD 16.69 million (27.4 8 million shares at last closing)” stated Arif Habib report.

The new constituents are MCB Bank (MCB), Habib Bank (HBL) and Lucky Cement (LUCK).

Under the MSCI Global Small Cap Indexes, TRG Pakistan (TRG) has been added while Indus Motors (INDU), Lucky Cement (LUCK), National Bank of Pakistan (NBP) and Packages Limited (PKGS) have been removed.

All changes will be made as of the close of May 28, 2021.