In the upcoming MSCI review scheduled for August 12th, 2024, some key changes are anticipated for Pakistan’s representation in the MSCI Frontier Markets (FM) Index. These changes are expected to take effect from September 2, 2024.
According to a report by Arif Habib Limited (AHL), the following seven stocks are expected to be added to MSCI Frontier Markets (FM) Index:
- Sazgar Engineering Works Limited (SAZEW)
- Service Industries Limited (SRVI)
- Pioneer Cement Limited (PIOC)
- D.G. Khan Cement Company Limited (DGKC)
- Fauji Fertilizer Bin Qasim Limited (FFBL)
- Fauji Cement Company Limited (FCCL)
- Faysal Bank Limited (FABL)
Expected Deletions
On the other hand, the AHL report expects that TRG Pakistan Limited (TRG) will be deleted from the MSCI FM Index amid the stock not meeting the total market capitalization criteria of $126 million.
Post these adjustments, the total number of Pakistani constituents in the MSCI FM Index is expected to increase to 27 from 21 in the last MSCI review. Consequently, the report anticipates that Pakistan’s weight in the MSCI FM Index will rise from the current 3.7 percent to approximately 4.2 percent.
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