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PSX formally marks listing of JS Global Banking Sector ETF with a gong ceremony

September 14, 2023

PSX formally marks listing of JS Global Banking Sector ETF with a gong ceremony

A gong ceremony was held at Pakistan Stock Exchange (PSX) to formally launch and celebrate the listing of JS Global Banking Sector Exchange Traded Fund (JSGBETF). The commencement of trading of units of JSGBETF took place on September 11, 2023. This is the first ETF to be launched by a brokerage house in Pakistan under the SECP’s Sandbox Guidelines, 2019, and the eighth ETF to be listed on Pakistan Stock Exchange. JSGBETF is a sector specific ETF that tracks a basket of stocks within the banking sector. It currently consists of eight (8) banking stocks that represent approximately 70 percent of the listed banking sector or approximately 80 percent on free float market cap. The ETF which will track a total-return, equally weighted index, JS Global Banking Sector Index (JSGBKTI) which will be replicating stock selection criteria of PSX’s Banking Tradable Index (BKTI).