In its latest Semi-Annual Review (SAIR), the MSCI has announced changes in the constituents of its global indices which will be effective from June 01, 2023.

• There is no change for Pakistan in the MSCI FM standard index.

• Pakistan’s weight in MSCI FM Standard index is estimated at 0.6% including ENGRO and OGDC being the two constituents.

• Three (3) stocks including BAFL, INDU, and, EPCL has been deleted from MSCI small cap index.

• Pakistan’s weight in the MSCI FM 100 index is estimated at 2.1% with ENGRO being the largest (0.38%) while HBL and TRG being the smallest (0.2% each) companies.

• Pakistan remains the second cheapest market in MSCI FM index in terms of PE(x) and PB(x) multiples.

• From a liquidity perspective, Pakistan is the third most liquid market in the MSCI FM universe.

Courtesy – AHL Research