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The Karachi Stock Exchange (KSE) has recomposed the 100-index, removing six companies and inducting six new ones. The new index would be effective from April 3, 2006.
In accordance with the decision of the Board of Directors of the Exchange, taken in its meeting on March 29, 2004, to carry out re-composition in the KSE 100 Index and implement the same, the management carried out the re-composition exercise, and the details of the changes in the KSE-100 Index companies, for the review period from September 2005 to February 2006, were based on re-composition rules of KSE-100 Index.
The recomposed Index, based on the prices of February 28, 2006 will capture the market capitalisation to the extent of 90.16 percent of total market capitalisation. The following are the details of 'Incoming' and 'Outgoing' companies:
INCOMING COMPANIES



=========================================================================================
Serial No Incoming companies Reasons
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1 Allied Bank Limited Market Capitalisation Based Rule
2 United Bank Limited Market Capitalisation Based Rule
3 EFU General Insurance Company Limited Market Capitalisation Based Rule
4 Pioneer Cement Company Limited Market Capitalisation Based Rule
5 Attock Petroleum Limited Market Capitalisation Based Rule
6 Telecard Limited Market Capitalisation Based Rule
-----------------------------------------------------------------------------------------
OUTGOING COMPANIES
-----------------------------------------------------------------------------------------
Serial No Outgoing companies Reasons
-----------------------------------------------------------------------------------------
1 Javed Omer Vohra & Company Limited Market Capitalisation Based Rule
2 Gul Ahmed Textile Mills Limited Market Capitalisation Based Rule
3 Dawood Lawrencepur Limited Market Capitalisation Based Rule
4 BOC Pakistan Limited Market Capitalisation Based Rule
5 Century Paper & Board Mills Limited Market Capitalisation Based Rule
6 Security Papers Limited Market Capitalisation Based Rule
=========================================================================================

Net effect: 6 companies will leave the Index while 6 new companies would enter.
Copyright Business Recorder, 2006

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