PSX has reconstituted the benchmark KSE-100 Index

Pakistan Stock Exchange (PSX) has carried out re-composition of KSE-100 Index and replaced seven constituents based on the changes in their free-float capitalization, with effect from October 01.

Accordingly, Kohinoor Spinning Mills (KOSM), JDW Sugar Mills (JDWS), Sazgar Engineering Works (SAZEW), Air Link Communication (AIRLINK), Mehmood Textile Mills (MEHT), Atlas Honda Limited (ATLH), Honda Atlas Cars (HCAR) have been added to the benchmark KSE-100 Index.

Meanwhile, Gadoon Textile Mills (GADT), Habib Sugar Mills (HABSM), BankIslami Pakistan ((BIPL), Century Paper & Board Mills (CEPB), Kohinoor Textile Mills (KTML), Shifa International Hospitals (SHFA), Saif Power Limited (SPWL) are excluded from the main index.

Pakistan's stock market surged significantly during FY24, closing at a record high of 78,455 points, up from 41,453 points in FY23.

In August, KSE-100 index showcased mixed momentum clinging on to the expectation of approval of IMF’s EFF program and disbursement of loan.

During the month, Pakistan's weight in the MSCI FM space increased to 3.9%, whereas, Moody’s upgraded Pakistan’s rating to Caa2 from Caa3.