Karachi: Pakistan Stock Exchange Limited has announced changes to the composition of the NBP Pakistan Growth Index (NBPPGI), effective from August 07, 2024. According to information available from the Pakistan Stock Exchange (PSX), this update follows the latest re-composition exercise conducted on July 31, 2024, based on the index rules published on the PSX website.
The re-composition sees Millat Tractors Limited (MTL) added to the NBPPGI, replacing Bank Alfalah Limited (BAFL). This adjustment reflects ongoing shifts within the sectors represented in the index. The detailed constituents of the NBPPGI and their respective weights as of July 31, 2024, include major companies such as Oil and Gas Development Company Limited, Pakistan Petroleum Limited, and The Hub Power Company Limited, each holding a significant weight of 10.00%. Other key players like United Bank Limited, Meezan Bank Limited, and Habib Bank Limited have weights of 7.72%, 7.67%, and 7.23% respectively.
The lower end of the spectrum includes Systems Limited and Bank AL Habib Limited, with weights of 4.93% and 4.24%, showing a diverse representation of sectors from banking to technology within the index. The inclusion of Millat Tractors Limited at a weight of 3.00% marks its significance in the agricultural sector and its emerging impact on the market.
This re-composition of the NBPPGI is indicative of the evolving market dynamics and the need to reflect the current economic landscape in Pakistan's financial indices.