KMI 30 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).

KMI 30 Index
Foundation2008 (2008)
OperatorKarachi Stock Exchange Limited
ExchangesKarachi Stock Exchange
Constituents30
Weighting methodCapitalization-weighted index
Websitewww.almeezangroup.com/investor-education/shariah-methodology/

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 when Shariah compliance of stocks is done.

Shariah compliance test

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[2]

List of companies

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

References
  1. "Index Tracker Funds".
  2. http://www.kse.com.pk/
  3. https://www.psx.com.pk/
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.