Morgan Stanley Capital International (MSCI) - a leading provider of benchmark indices- announced the results of its November 2010 Semi-Annual Index Review on Thursday.
Foreign funds that track MSCI Frontier Market index might offload their positions from Kapco, which could be a negative trigger for the scrip, according to IGI Research.
Kapco stock fell 1.7 per cent to Rs39.55 during trade at the KSE on Thursday.
With Kapco stock removed from the index, there are now 12 stocks in the MSCI Pakistan Index. No new companies listed on the Karachi Stock Exchange have been added to the index.
The weight of the Pakistan Index before the November rebalancing was 3.84 per cent, however, details are not available with regard to the current weight.
Moreover, MSCI has not placed Pakistan on its rating watch for potential upgrade to Emerging Markets Index.
MSCI Pakistan Index
- Oil and Gas Development Company
- MCB Bank
- Habib Bank
- Fauji Fertiliser
- Engro Corporation
- National Bank
- Pakistan Petroleum
- Pakistan Oilfields
- Hub Power Company
- Pakistan State Oil
- United Bank
- Pakistan Telecommunication Company
Published in The Express Tribune, November 12th, 2010.
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