MSCI upgrades Pakistan’s weight in index
Business
May 13, 2021
KARACHI: The Morgan Stanley Capital International (MSCI) announced outcome of its semi-annual review whereby Pakistan now has a weight of 0.023 percent as compared to 0.016 percent previously.
Additionally, Pakistan’s weight in the small cap index has been revised to 0.379 percent. Pertinently, the changes will become effective from 28th May 2021.
Lucky Cement has been added to the MSCI Pakistan Index under MSCI Global Standard Indexes while Oil and Gas Development Company has been removed from it. The new constituents are MCB Bank, Habib Bank and Lucky Cement.
Under the MSCI Global Small Cap Indexes, TRG Pakistan has been added while Indus Motors, Lucky Cement, National Bank of Pakistan and Packages Limited have been removed. “We estimate inflows in the LUCK to the tune of $39.65 million (6.89 million shares at last closing price) while we estimate outflows in OGDC to clock in at $16.69 million (27.48 milli
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Kse-100: Bulls lift index to cross 45,000 mark
April 10, 2021
Bulls continued to dominate Pakistan Stock Exchange (PSX) for the second day, as stocks extended their gains to lift benchmark kse-100 index by 445.12 points by the closing bell to cross 45,000 mark.
Senior Vice President, BMA Capital Management Limited, Irfan Saeed said that Friday’s gains were primarily linked to a technical bounce back as the index was projected to cross 45,200 level, but warned that technical correction can be witnessed in the next session, as profit taking is expected at this level. Mr Saeed, however added that the current uphill trajectory of the index can also be linked to upbeat investors sentiments, who are expecting strong financial results season, specifically for the cement and steel sector, which have witnessed a surge in dispatches and sales.