Karachi: The Pakistan Stock Exchange Limited has announced the recomposition of its Banking and Oil and Gas Sector Tradable Indices for the review period of January 1, 2024, to June 28, 2024. The changes will take effect from August 15, 2024.
The recomposition follows the guidelines outlined in the index rules available on the Exchange's website. While the Tradable Index for the Oil and Gas Sector (OGTi) remains unchanged, modifications have been made to the Banking Sector Tradable Index (BKTi). Notably, the National Bank of Pakistan (NBP) has been removed from the BKTi.
The updated list of companies in the Banking Sector Tradable Index now includes Bank Alfalah Limited, Bank AL Habib Limited, Habib Bank Limited, MCB Bank Limited, Meezan Bank Limited, and United Bank Limited. Conversely, the Oil and Gas Sector Index continues to feature Oil and Gas Development Company Limited, Pakistan Petroleum Limited, Mari Petroleum Company Limited, and Pakistan Oilfields Limited.
According to information available from the Pakistan Stock Exchange (PSX), these changes reflect the ongoing adjustments within sectoral indices to better represent the market dynamics and performance of listed companies.
The recomposition is expected to provide a more accurate reflection of the sector's current state and guide investors interested in sector-specific exposures.