MSCI deletes three scrips from small-cap index

KARACHI: MSCI, which provides indices to help global investors allocate funds passively, has made changes as part of its semi-annual review, said Arif Habib Ltd on Friday.

There is no change for Pakistan in the MSCI Frontier Markets (FM) Standard Index. Pakistan’s weight in that benchmark is estimated at 0.6 per cent, with Engro Corporation Ltd and Oil and Gas Development Company Ltd being the two constituents.

Three stocks namely Bank Alfalah Ltd, Indus Motor Company Ltd and Engro Polymer and Chemicals Ltd have been deleted from the MSCI small-cap index, the brokerage added. The changes will become effective from June 1.