Islamabad, Jan 12: The Pakistan Stock Exchange Limited (PSX) has carried out its re-composition exercise for two key indices, the Mahaana Islamic Index (MII30) and the Meezan Pakistan Index (MZNPI), based on the latest market data. These changes will be effective starting Monday, January 13, 2025.
Mahaana Islamic Index (MII30) Updates
As part of the MII30 re-composition, several companies have been added, while others have been excluded. Notable companies joining the index include:
- Oil & Gas Development Company Limited
- International Industries Limited
- Engro Holdings Limited
- International Steels Limited
- GlaxoSmithKline Pakistan Limited
- K-Electric Limited
Read More: UN Report Predicts 3.4% GDP Growth for Pakistan in FY25
Meanwhile, International Industries Limited, International Steels Limited, and K-Electric Limited have been removed from the index. Other prominent companies in the index include Mari Petroleum Company Limited, The Searle Company Limited, Engro Fertilizers Limited, Pakistan Petroleum Limited, Meezan Bank Limited, D.G. Khan Cement Company Limited, and Systems Limited.
Meezan Pakistan Index (MZNPI) Changes
For the Meezan Pakistan Index, the re-composition has brought in:
- Oil & Gas Development Company Limited
- Mari Petroleum Company Limited
- Sazgar Engineering Works Limited
- Engro Holdings Limited
Meanwhile, the following companies have been excluded from the index:
- Lucky Cement
- D.G. Khan Cement Company Limited
- Systems Limited
- Sui Northern Gas Pipelines Limited
Other major companies in the MZNPI include Engro Holdings Limited, Engro Fertilizers Limited, The Hub Power Company Limited (HUBC), Meezan Bank Limited (MEBL), Mari Petroleum Company Limited (MARI), and Pakistan State Oil Company Limited (PSO).
The re-composition changes for both indices are set to take effect from January 13, 2025. These updates reflect the latest trends in the market and aim to enhance the representation of Sharia-compliant companies in these indices. Investors and market participants are advised to take note of these changes as they will influence the trading dynamics on the Pakistan Stock Exchange in the coming weeks.
