Karachi: The Pakistan Stock Exchange Limited has announced the recomposition of the JS Global Banking Sector Index (JSGBKTI), effective from June 28, 2024. The changes will be implemented on August 15, 2024. This update follows the guidelines outlined in the index rules available on the Exchange's website.
According to information available from the Pakistan Stock Exchange (PSX), the revision includes the exclusion of the National Bank of Pakistan (NBP) from the index. The updated constituents of the JSGBKTI, each holding equal weights of 16.67%, are United Bank Limited (UBL), Habib Bank Limited (HBL), Meezan Bank Limited (MEBL), MCB Bank Limited (MCB), Bank AL Habib Limited (BAHL), and Bank Alfalah Limited (BAFL).
The re-composition exercise reflects the ongoing adjustments within the banking sector indices to ensure they accurately represent the market dynamics. The specific weights assigned to each bank aim to maintain a balanced and fair representation of the sector within the index.