Foundation | 2008 (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 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).
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
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
- Air Link Communication
- Attock Refinery
- Cherat Cement
- DG Cement
- Dolmen City REIT
- Engro Corporation
- Engro Fertilizers
- Engro Polymer
- Fauji Cement
- Faysal Bank
- Hub Power
- Interloop Limited
- Lucky Cement
- Maple Leaf Cement
- Mari Petroleum
- Meezan Bank
- Millat Tractors
- National Refinery
- NetSol Technologies
- Nishat Mills
- Pakistan Petroleum Limited
- Pakistan Refinery Limited
- Pakistan State Oil
- Pioneer Cement
- Shell Pakistan
- SNGPL
- Systems Limited
- TPL Properties
- Unity Foods
See also
References
- "Index Tracker Funds".
- "No, the stock market is not an accurate indicator of the economy". Profit by Pakistan Today. 22 August 2021.
External links
- Official website
- Impact of Interest Rate, Inflation Rate, Exchange Rate and Gold Prices on Karachi Meezan Index 30