In a decision earlier this morning, Morgan Stanley Capital International in its semi year review has made some changes to the MSCI Global Small Cap Indexes.
In a meeting held in Geneva, Switzerland three Pakistani companies were removed from the MSCI Global Small Cap Indexes. Overall 380 additions and 303 deletions from the MSCI ACWI Small Cap Index were performed.
The removed companies include IGI Holdings, Pak Elektron and National Refinery.
IGI holding was trading at Rs 293, down by Rs2.00, Pak Elektron at Rs 38.20, down by Rs 1.54 and National Refinery was trading at Rs 339 which was down by Rs 12.90 at the bourse today.
However, a total of 210 companies were deleted from the Asia Pacific Region with 159 new additions during the review.
Of all the countries in the Asia Pacific Region, Pakistan was the only country with no new additions in the MSCI Global Cap Indexes.
On the other hand, Japan witnessed the addition of more than 52 securities and 15 deletions. Meanwhile, MSCI added 22 and 27 small cap companies from China and India while making 116 and 12 deletions respectively.
The index giant said that it had added 11 companies and deleted nine from its MSCI China A inclusion index, bringing the total number of index constituents to 234 following its May index review.
The MSCI Emerging Markets Index consists of 24 countries representing 10% of world market capitalization. The Index is available for a number of regions, market segments/sizes and covers approximately 85% of the free float-adjusted market capitalization in each of the 24 countries. MSCI serves 99 of the top 100 largest money managers, according to the most recent P&I ranking.