Karachi: The Pakistan Stock Exchange (PSX) has announced the re-composition of the UBL Pakistan Enterprise Index (UPP9), effective November 04, 2024. According to information available from the Pakistan Stock Exchange (PSX), the changes adhere to the relevant index rules, as detailed on the PSX website.

As of October 31, 2024, Systems Limited and MCB Bank Limited are set to join the UPP9 Index, replacing outgoing companies. The updated list of constituent companies along with their respective weights are as follows: Fauji Fertilizer Company Limited and United Bank Limited are at the top, each holding a 16.00% weight. They are followed by Engro Fertilizers Limited with 12.34%, Meezan Bank Limited with 11.02%, and The Hub Power Company Limited with 10.67%. Systems Limited enters the index with a 9.13% weight. Completing the list are Engro Corporation Limited at 8.51%, Lucky Cement Limited at 8.22%, and Habib Bank Limited at 8.12%.

These modifications are part of a routine re-composition exercise based on the performance metrics and guidelines outlined by the PSX for its indices. The inclusion and exclusion of companies reflect shifts in market dynamics and company performances relative to the index's criteria.