Islamabad: The Morgan Stanley Capital International (MSCI) – the indexes service and analytics provider has added Mari Petroleum to its global small indexes along with PPL, replacing Nishat Mills and Sui Northern Gas Pipelines. According to MSCI the changes will take place at close of May 29, 2020, says a press release.
Total number of Pakistani constituents in the small cap indexes stands at 16, including Mari Petroleum, Bank Alfalah, Engro Corporation, Engro Fertilizers, Fauji Fertilizer Company, Hub Power Company, Indus Motor, Lucky Cement, Millat Tractors, National Bank of Pakistan, Packages Limited, Pakistan Oilfields Limited, Pakistan Petroleum, Pakistan State Oil, The Searle and United Bank Limited.
The decision would help Pakistan (Pakistan Stock Exchange/PSX) win global stock market investors’ confidence to invest in listed firms at PSX, as they follow MSCI decisions to invest or divest at global markets.
Pakistan was reclassified into the MSCI Emerging Market Index from the Frontier Market Index in May 2017.
