MCB Bank has been transferred into the MSCI FM Pakistan small cap Index by Morgan Stanley Capital International (MSCI), which has removed MCB Bank from its Frontier Markets (FM) Pakistan Index. The MSCI Semi-Annual Review made this move official, and it will take effect on November 30, 2022.
Lucky Cement (LUCK) and Oil & Gas Development Company (OGDC), two prominent investment research firms and providers of stock market indices have maintained their positions in the MSCI FM Pakistan Index, according to MSCI.
For the month of November, the MSCI Market classification framework requires companies to have an ATVR of 2.5%, a full market capitalization of $883 million, a free-float market capitalization of $73 million, and a free-float market capitalization of $73 million in order to be classified as a frontier market.
Other modifications to the MSCI Small Cap Index, aside from the addition of the MCB, were also announced by the MSCI. The Resource Group (TRG), Millat Tractors Limited (MTL), The Resource Group (TRG), Mari Petroleum (MARI), Engro Fertilizers Limited (EFERT), Habib Bank Limited (HBL), Pakistan Oilfields Limited (POL), Pakistan State Oil (PSO), Pakistan Petroleum Limited (PPL), Bank Alfalah Limited (BAFL), Engro Polymer and Chemicals Limited (EPCL), and Indus Motor Company are some examples of small index stocks. Hub Power Company (HUBC (SEARL).
To read our blog on “MCB Bank’s profit drops 12% in 9 months,” click here.