Two Pakistani Companies Relegated, Two More Evicted in MSCI’s Global Index for Nov 2018

MSCI, a leading provider of research-based indexes and analytics, announced the results of the November 2018 Semi-Annual Index Review for the MSCI Equity Indexes.

Lucky Cement Limited (LUCK) and United Bank Limited (UBL) were removed by MSCI from MSCI Global Standard Index Pakistan and moved to the MSCI Global Small Cap index while Honda Atlas and Maple Leaf Cement were evicted from the Pakistan Small Cap Index.


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All these changes will be applicable by November 30th, 2018 and the country has a total of twenty-seven constituents in MSCI Global Standard Index (5 constituents) and MSCI Small Cap Indexes.

The review is based on its framework for a country under three set rules:

  1. Economic Development,
  2. Size and Liquidity Requirements
  3. Market Accessibility Criteria

Pakistan has avoided being declassified from the Morgan Stanley Capital International’s Emerging Market Index as there was a big elimination risk which was put out by the experts.