UBL Enterprise Index holds ground- no changes, only weight shifts

May 05, 2026 (MLN): In a move that signals stability rather than surprise, the Pakistan Stock Exchange Limited has retained all constituents of the UBL Pakistan Enterprise Index (UPP9) following its latest re-composition exercise as of April 30, 2026.

While the lineup remains unchanged, the reshuffling of weights offers investors a subtle but meaningful recalibration of market leadership across sectors.

Heavyweights Fauji Fertilizer Company Limited and United Bank Limited continue to dominate the index with equal weightage of 16% each. Engro Holdings Limited follows with a 13.88% share, maintaining its strong foothold.

Banking names remain firmly embedded in the index’s core, with Meezan Bank Limited at 11.65% and Habib Bank Limited at 8.73%, reflecting continued investor confidence in the sector’s earnings visibility.

Energy and industrial plays also retain notable weight, led by The Hub Power Company Limited (11.28%) and Lucky Cement Limited (9.43%), while technology exposure via Systems Limited stands at 6.76%.

Meanwhile, Engro Fertilizers Limited rounds off the index with a 6.28% allocation.

The revised weights come into effect from May 05, 2026, offering a refreshed snapshot of market capitalization dynamics without altering the broader investment universe.

UPP9 Index – Revised Weights

For investors, the unchanged composition paired with adjusted weightings suggests continuity in market leadership, yet hints at evolving relative strengths within Pakistan’s top-tier corporates.

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