MSCI keeps Pakistan’s Frontier Market Index unchanged

MG News | November 15, 2023 at 07:42 AM GMT+05:00

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November 15, 2023 (MLN): Morgan Stanley Capital International (MSCI) has not made any changes to the list of Pakistani companies in the Frontier Market Index, its semi-annual review revealed on Wednesday which will be effective from December 01, 2023.

To note, Pakistan has 17 stocks in the MSCI Frontier Market (FM) Index.

On the other hand, 4 stocks have been newly added to the MSCI Frontier Market Small Cap Index, while 4 have also been removed from the same index.

The additions include Agha Steel Industries (PSX: AGHA), AGP Limited (PSX: AGP), Pak Suzuki Motor Company(PSX: PSMC), and Sazgar Engineering Works (PSX: SAZEW).

The deletions include Faysal Bank (PSX: FABL), Kohat Cement Company (PSX: KOHC), Maple Leaf Cement Factory (PSX: MLCF), and Shell Pakistan (PSX: SHEL).

Accordingly, Pakistan's weight in the FM100 Index has been reduced from 3.2% to approximately 2.9%.

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