KMI 30 Index
| Foundation | 2008 |
|---|---|
| Operator | Karachi Stock Exchange Limited |
| Exchanges | Karachi Stock Exchange |
| Constituents | 30 |
| Weighting method | Capitalization-weighted index |
| Website | www |
KSE Meezan Index (KMI–30) is a stock market index on the Pakistan Stock Exchange in Pakistan of thirty companies that have been screened for Islamic Shariah criteria. The index was introduced in 2009[1] and the base period for this Islamic index is 30 June 2008. It was created as a joint effort by the Karachi Stock Exchange (now known as Pakistan Stock Exchange) and Al-Meezan Investment Bank (now known as Meezan Bank Limited).[2]
The index is calculated using free float market capitalization. At any point in time, the level of the index reflects the free float market value of selected Shariah-compliant shares in comparison with the base period. KMI-30 is recomposed semi-annually.
Guidance is taken from qualified and well reputed Shariah experts[who?] when Shariah compliance of stocks is done.
Shariah compliance test[edit]
For any stock to be "Shariah compliant" it must meet all of the following six criteria:
- Business of the company
- Debt to total assets
- Illiquid assets to total assets
- Net liquid assets to share price
- Non-compliant investments to total assets
- Non-compliant income to total revenue
List of companies[edit]
The following list of companies are included in the KMI-30 index as per the notice from Pakistan Stock Exchange dated 03 Jul 2020. The recomposed index is implemented w.e.f Monday, July 13, 2020. This re- composition of KSE-Meezan 30 Index is for the review period from July 01, 2019 to December 31, 2019. [3]
| Number | Name of Company | Symbol | Charity Rate |
|---|---|---|---|
| 1 | Engro Corporation Ltd. | ENGRO | 4.72% |
| 2 | Oil & Gas Development Company Ltd | OGDC | 7.73% |
| 3 | Lucky Cement Ltd | LUCK | 2.59% |
| 4 | Pakistan Petroleum Ltd | PPL | 1.59% |
| 5 | Engro Fertilizers Ltd | EFERT | 1.34% |
| 6 | Pakistan Oilfields Ltd | POL | 4.09% |
| 7 | Pakistan State Oil Co. Ltd | PSO | 0.90% |
| 8 | Mari Petroleum Co. Ltd | MARI | 3.13% |
| 9 | Meezan Bank Ltd | MEBL | 0.00% |
| 10 | The Searle Company Ltd | SEARL | 0.21% |
| 11 | D.G. Khan Cement Co. Ltd | DGKC | 3.11% |
| 12 | Millat Tractors | MTL | 0.11% |
| 13 | Fauji Cement Co. Ltd | FCCL | 0.17% |
| 14 | Sui Northern Gas Pipelines Ltd | SNGP | 1.25% |
| 15 | Maple Leaf Cement Factory | MLCF | 0.19% |
| 16 | Indus Motor Company Ltd | INDU | 2.10% |
| 17 | Nishat Mills Ltd | NML | 1.59% |
| 18 | Systems Limited | SYS | 3.53% |
| 19 | K-Electric Ltd | KEL | 0.78% |
| 20 | Engro Polymer & Chemicals | EPCL | 1.88% |
| 21 | Hascol Petroleum Ltd | HASCOL | 0.15% |
| 22 | Cherat Cement Co. Ltd | CHCC | 0.01% |
| 23 | International Steels Ltd | ISL | 0.01% |
| 24 | Pak Elektron Ltd | PAEL | 0.04% |
| 25 | Honda Atlas Cars (Pakistan) Ltd | HCAR | 0.54% |
| 26 | Lotte Chemical Pakistan Ltd | LOTCHEM | 1.73% |
| 27 | Attock Refinery Ltd | ATRL | 1.29% |
| 28 | Unity Foods Ltd | UNITY | 0.02% |
| 29 | National Refinery Ltd | NRL | 0.09% |
| 30 | NetSol Technologies Ltd | NETSOL | 0.34% |
See also[edit]
References[edit]
- ^ "Index Tracker Funds".
- ^ "No, the stock market is not an accurate indicator of the economy". Profit by Pakistan Today. 22 August 2021.
- ^ "Pakistan Stock Exchange Limited -". www.psx.com.pk.