KMI 30 Index

From Wikipedia, the free encyclopedia

KMI 30 Index
Foundation2008 (2008)
OperatorKarachi Stock Exchange Limited
ExchangesKarachi Stock Exchange
Weighting methodCapitalization-weighted index

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:

  1. Business of the company
  2. Debt to total assets
  3. Illiquid assets to total assets
  4. Net liquid assets to share price
  5. Non-compliant investments to total assets
  6. 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]


  1. ^ "Index Tracker Funds".
  2. ^ "No, the stock market is not an accurate indicator of the economy". Profit by Pakistan Today. 22 August 2021.
  3. ^ "Pakistan Stock Exchange Limited -".

External links[edit]