KMI 30 Index
| Foundation | 2008 |
|---|---|
| Operator | Karachi Stock Exchange Limited |
| Exchanges | Karachi Stock Exchange |
| Constituents | 30 |
| Weighting method | Capitalization-weighted index |
KMI 30 Index 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.
Selection criteria
[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
Constituents
[edit]Current
[edit]- Air Link Communication
- Attock Refinery
- DG Cement
- Engro Fertilizers
- Engro Holdings
- Engro Polymer
- Faysal Bank
- Fauji Cement
- Fauji Foods
- Ghandhara Industries
- Honda Atlas Cars
- Hub Power
- K-Electric
- Lucky Cement
- Mari Petroleum
- Meezan Bank
- Maple Leaf Cement
- Millat Tractors
- National Refinery
- Oil & Gas Development Company
- Pak Elektron
- Pioneer Cement
- Pakistan Petroleum Limited
- Pakistan Refinery Limited
- Pakistan State Oil
- Sazgar Engineering Works
- The Searle Company Limited
- Sui Northern Gas Pipelines
- Systems Limited
- Unity Foods
Former
[edit]- Cherat Cement Company Limited
- Dolmen City REIT
- Interloop Limited
- NetSol Technologies Limited
- Nishat Mills Limited
- Shell Pakistan Limited
- TPL Properties Limited
See also
[edit]References
[edit]- ^ "KSE Meezan Index Fund".
- ^ "No, the stock market is not an accurate indicator of the economy". Profit by Pakistan Today. 22 August 2021.