MSCI May’24 Index Review: Pakistan weight at 3.7%

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In its latest Index Review, MSCI announced changes in its global indices constituents, effective June 1, 2024.

The National Bank of Pakistan (NBP) has been added to the MSCI FM Standard Pakistan Index.

There is no change in the MSCI small cap index for Pakistan.

After this review, there would be a total 21 constituents in MSCI standard index, including HUBC, UBL, LUCK, ENGRO, MCB, HBL, EFERT, BAHL, PPL, OGDC, MTL, MARI, FFC, SYS, POL, PSO, BAFL, TRG, ILP, SNGP and NBP

While for the MSCI small cap index, are 56 constituents from Pakistan.

Pakistan’s weight in the FM standard index is expected to be around 3.7%.

The KSE100 index outperformed all MSCI frontier markets and the MSCI FM index during FY24TD with a return of 85%.

Also, Pakistan remains the second most liquid market in the MSCI FM space, with an average daily traded value of USD 54.2mn in FY24TD.

Overall, we expect NBP to have a weight of around 0.06% in the MSCI main index, with an expected inflow of USD 2.5mn (17.5mn shares at yesterday’s closing).

Courtesy -AHL Research

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