KARACHI: Pakistan successfully maintained its emerging market status in thesemi-annual index review for the Morgan Stanley Capital International(MSCI) equity indexes as all the three key blue chips complied with thefree-float standards to qualify as the index constituents.
The three constituents of the MSCI Pakistan index, namely Habib BankLimited, Oil and Gas Exploration Company and MCB Bank posted combinedmarket capitalisation at $2,674 million, eking out MSCI weight at 0.03percent.
Foreign investors having an estimated $1.5-2 trillion in hand track theMSCI Emerging Market (EM) Index to decide whether to invest or divest inthe stock markets that are part of the index.
In the MSCI Small Cap index, 16 companies retained their positions, whichinclude Engro, United Bank Ltd, Fauji Fertiliser, Lucky Cement, Hub PowerCo, Pakistan Oilfields, Engro Fertilisers, Pakistan State Oil, BankAlfalah, Sui Northern Gas, Searle, National Bank of Pakistan, Nishat Mills,Millat Tractors, Worldcall Telecom, Indus Motors and Packages Ltd.
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No securities were added in the review. However, three securities, namelyDG Khan Cement, Kot Addu Power Company, and Thal Limited were deleted fromMSCI Global Small Cap Indexes.
