The inclusion of Kot Addu Power and NDLC-IFIC would result in nearly five points movement in the Karachi Stock Exchange benchmark 100 index if these scrips should rupee one change in their prices.
The KSE-100 index has been recomposed as per the periodic exercise. The new entrants are KAPCO (2 percent weight), Fayzan Manufacturing Modaraba (0.1 percent), JDW Sugar (0.04 percent), PICIC Investment Fund (0.2 percent), NIB Bank (0.4 percent) and Azgard Nine (0.2 percent).
These would replace WorldCall Communications, Standard Chartered Modaraba, Shakarganj Mills, JSIB, Sitara Chemical Industries and Meezan Bank. The revised Index is to be implemented from October 3, 2005. As of Friday's closing, had the revised index been in place, the market capitalization would have stood at Rs 2.03 trillion instead of Rs 1.98 trillion. Thus, the index would cover 87 percent of the total market capitalization against 85 percent currently. The heavyweights to enter the index are KAPCO and NIB, which would move the index by 3.5 points and 1.3 points respectively, given a Re 1 change in their prices.
Presently, OGDC's weight in 100 index is 25 percent, PTCL 12 percent, PPL 6.68 percent, NBP 4.19 percent, PSO 3.31 percent, Pakistan Oilfields 2.46 percent and MCB Bank Ltd., 2.35 percent.