PSX announces re-composition of Meezan Pakistan Index M Haris

The Pakistan Stock Exchange (PSX) has announced the re-composition of the Meezan Pakistan Index (MZNPI), effective July 3, 2024, according to a notice issued by the local bourse on Wednesday. 

This update comes as part of the PSX’s regular re-composition exercise, based on data as of June 14, 2024.

According to the official notice, three companies have been added to the index: D.G. Khan Cement Company Limited, The Searle Company Limited, and Air Link Communication Limited. 

Meanwhile, Maple Leaf Cement Factory Limited, Oil & Gas Development Company, and Sui Northern Gas Pipelines Limited have been removed from the index.

The updated constituents of the MZNPI with their respective weights are as follows: The Hub Power Company Limited (15.00%), Meezan Bank Limited (13.44%), Engro Fertilizers Limited (12.30%), Engro Corporation Limited (11.11%), Lucky Cement Limited (10.29%), Pakistan Petroleum Limited (9.90%), Systems Limited (9.47%), Pakistan State Oil Company Limited (4.49%), D.G. Khan Cement Company Limited (3.50%), Attock Refinery Limited (3.50%), The Searle Company Limited (3.50%), and Air Link Communication Limited (3.50%).

These changes reflect PSX’s commitment to maintaining an up-to-date and representative index, ensuring alignment with the latest market data and trends.