KARACHI: Global index provider MSCI retained only two stocks — Lucky Cement Ltd and MCB Bank Ltd — in the MSCI FM Pakistan index as part of its latest semi-annual review released on Friday.

MSCI provides investment tools like indices that many global passive funds use to make investments with distributed risks around the world equity markets.

MSCI added Oil and Gas Development Company Ltd to the MSCI Pakistan Index while transferring Habib Bank Ltd to its Frontier Markets Pakistan Small-Cap Index in the half-yearly review. The changes in the constituents of its global indices will be effective from June 1.

According to Arif Habib Ltd, Pakistan’s weight in the MSCI FM Index is now 1.02 per cent.

Apart from Habib Bank Ltd, MSCI announced two additions from Pakistan — Engro Polymer and Chemicals Ltd and Indus Motor Company Ltd — to its MSCI Small-Cap Index. The index provider didn’t announce any deletions from the index.

Following the feedback received from market participants, MSCI concluded in February that Pakistan would become eligible for the inclusion in the MSCI Frontier Markets 100 and the MSCI Frontier Markets 15pc Country-Capped Indices under the semi-annual review.

“Therefore, we believe Pakistan will be added to the FM Index 100 — whereby our estimates suggest 13 constituents to be selected — and the MSCI FM 15pc Country-Capped Index (with four constituents) from June 1,” the brokerage said.

Published in Dawn, May 14th, 2022

Opinion

Editorial

Updated 22 May, 2022

Back in the game?

WITH the new government struggling to make crucial decisions independently, Pakistan’s ‘parallel governance...
22 May, 2022

Currency concerns

IN the midst of the power struggle in the country, the rupee slid past 200 to a dollar in the interbank market last...
Updated 22 May, 2022

Shireen Mazari’s arrest

Abuse of power can never be condoned, regardless of who it targets or from where it emanates.
Updated 21 May, 2022

Band-aid measure

A more pronounced impact would have been possible had the cap on energy prices been removed.
21 May, 2022

Bilawal’s defence

BILAWAL Bhutto-Zardari’s robust defence at the UN headquarters of former prime minister Imran Khan’s Feb 24 trip...
21 May, 2022

Yasin Malik’s conviction

THE conviction of veteran Kashmiri freedom fighter and head of the Jammu Kashmir Liberation Front Yasin Malik by an...