KSE-100 index recomposed

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

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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

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OUTGOING COMPANIES

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Serial No  Outgoing companies                                                     Reasons

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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

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