Markets

MSCI adds 8 Pakistani companies to Small Cap Index, deletes 1 from FM Standard Index

The Pakistan Stock Exchange is anticipating a gross inflow of $25-$30 million following the review

MSCI adds 8 Pakistani companies to Small Cap Index, deletes 1 from FM Standard Index
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Global investment research firm Morgan Stanley Capital International (MSCI) announced the results of its index review on Wednesday, according to which, it has deleted one Pakistani company each from its Foreign Markets (FM) Standard Pakistani Index and Small Cap Index, and added eight new ones to the latter.

MSCI provides data and analytics to investors around the world, and its indexes are widely used as benchmarks by exchange-traded funds (ETFs) and mutual funds.

The changes announced in the MSCI Index Review for November will come into effect on November 25.

The changes are as follows:

MSCI FM Standard Pakistan Index:

  • Deletion of TRG Pakistan Limited (TRG)
MSCI Small Cap Index:
  • Addition of Citi Pharma Ltd (CPHL)
  • Addition of Crescent Steel & Allied Products Limited (CSAP)
  • Addition of Fast Cables Limited (FCL)
  • Addition of Flying Cement Company Limited (FLYNG)
  • Addition of Pakistan Oxygen Limited (PAKOXY)
  • Addition of Shifa International Hospitals Limited (SHFA)
  • Addition of Thatta Cement Company Limited (THCCL)
  • Addition of TRG Pakistan Limited (TRG)
  • Deletion of Fauji Fertilizer Bin Qasim Limited (FFBL)
The Pakistan Stock Exchange is anticipating a gross inflow of $25-$30 million following the review.
In the last review in August, the minimum thresholds for the selection of frontier market stocks were $69 million for free float market cap and $138 million for total market cap.
Over the last two reviews, MSCI has increased these thresholds by an average of 10% per review. Analysts expect this trend to continue, with the free float threshold potentially increasing to $76 million and the full market cap threshold to $152 million.

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