MSCI Index Review: Abbott exits, SEPL & ZAL enter MSCI fold

February 11, 2026 (MLN): MSCI Inc. (NYSE: MSCI), a global provider of critical investment decision tools, has disclosed the results of its February 2026 Index Review for the MSCI Equity Indexes.

Regarding Pakistan, Abbott Laboratories (Pakistan) Limited (ABOT) has been removed from the MSCI Frontier Markets (FM) Standard Index in the February 2026 review, while Security Papers Limited (SEPL) and Zarea Limited (ZAL) have secured inclusion in the MSCI Frontier Markets Small Cap Index.

The changes will take effect at the close of February 27, 2026

In the Small Cap segment, Lalpir Power Limited (LPL) has been deleted, resulting in a net addition of one stock for Pakistan in that category.

However, at the broader FM Standard level, Pakistan recorded zero additions and one deletion in this review cycle

FM Standard Index: No New Entry for Pakistan

Under the MSCI Pakistan Index (FM Standard):

• Additions: None

• Deletions: Abbott Laboratories (Pakistan) Limited

The country summary confirms Pakistan’s tally of 0 additions and 1 deletion in the Frontier Markets Index

Small Cap Index: SEPL, ZAL Enter; LPL Exits

In the MSCI Frontier Markets Small Cap Indexes, Pakistan recorded two additions and one deletion.

MSCI Pakistan Small Cap Index:

• Additions: Security Papers Limited, Zarea Limited

• Deletions: Lalpir Power Limited 

The inclusion of SEPL and ZAL may attract incremental passive inflows and improved trading volumes ahead of the effective date.

Global comparison

Compared with other frontier markets, Pakistan’s changes remain modest.

Several markets, including Vietnam and Tunisia, saw multiple inclusions across the Standard and Small Cap indices, whereas Pakistan did not record any additions to the main FM benchmark.

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