Karachi: The Pakistan Stock Exchange Limited (PSX) has announced the re-composition of the Oil & Gas and Banking Sector Tradable Indices for the review period spanning from July 1, 2024, to December 31, 2024. This significant update, which was unveiled on October 15, 2024, underscores PSX's continuous evaluation and alignment of sector indices based on pre-defined selection criteria.

The re-composition exercise has been meticulously carried out according to the criteria detailed in the Brochure of Oil & Gas and Banking Sector Tradable Indices. The brochure is accessible for public viewing and download from the PSX’s official website, www.psx.com.pk. As part of the updated indices, changes in the Banking Sector Tradable Index include the inclusion of National Bank of Pakistan and Faysal Bank Limited, with no companies being removed from this sector.

Conversely, the Oil & Gas Tradable Index has experienced a departure as Pakistan Oilfields Limited has been excluded from the list, with no new companies being added. These changes reflect strategic shifts within the sectors and are aimed at capturing a minimum of 80% free float market capitalization of the respective sectors, without enforcing a minimum number of companies.

According to information available from the Pakistan Stock Exchange (PSX), the recomposed indices are scheduled to be implemented starting Monday, February 17, 2025. These adjustments are expected to have significant implications for investors and stakeholders within the designated market category, offering a recalibrated view of the sectoral performance and market dynamics.

The recomposition exercise is part of PSX's ongoing efforts to ensure the indices remain reflective of the current market conditions and trends, thereby enhancing the indices' role as a reliable benchmark for investors. A comprehensive list of the companies included in the updated Tradable Indices is attached to the announcement for stakeholders’ reference and analysis.