KARACHI, Nov 13: The Karachi Stock Exchange on Tuesday reclassified its sectors of listed companies, raising the number of sectors from 27 to 35.

A press release issued by the KSE quoted the KSE Managing Director Moin M. Fudda as saying that the idea of revamping the sector’s classification was to make them more representative to the nature of industries.

The existing and new sectors are as follows: Existing 27 sectors: mutual funds, modarabas, leasing companies, investment companies/securities companies/banks, insurance, textile spinning, textile weaving, textile composite, woollen, synthetic & rayon, jute, sugar & allied industries, cement, tobacco, fuel & energy, engineering, auto & allied engineering, cables & electrical goods, transport & communication, chemical & pharmaceuticals, paper & board, vanaspati & allied industries, constructions, leather & tanneries, food & allied industries, glass & ceramics and miscellaneous.

Names of new 34 sectors: Open-end mutual funds, closed-end mutual funds, modarabas, leasing companies, investment banks/investment companies/ securities companies, commercial banks, insurance, textile spinning, textile weaving, textile composite, woollen; synthetic & rayon, jute, sugar & allied industries, cement, tobacco, refinery, power generation & distribution, oil & gas marketing companies, oil & gas exploration companies, engineering, automobile assemblers, automobile parts & accessories, cables & electrical goods, transport, technology & communication, fertilizer, pharmaceuticals, chemicals, paper & board, vanaspati & allied industries, leather & tanneries, food & personal care products, glass & ceramics and miscellaneous.