KMI 30 Index
What is KMI 30 Index?
Consisting of 30 companies that have been screened for Islamic Shariah criteria, the KMI 30 Index is a stock market index on the Pakistan Stock Exchange. The index was created as a joint effort by the Karachi Stock Exchange and Al-Meezan Investment Bank.
Where have you heard about KMI 30 Index?
The KMI 30 Index was first introduced in 2008. Many high-profile Pakistani companies are included on this index including Pakistan Petroleum, Lucky Cement, Engro Foods, Maple Leaf Cement, Mari Gas and Honda Atlas Car (Pakistan) Ltd.
What you need to know about KMI 30 Index.
The KMI 30 Index is calculated using free float market capitalisation and is recomposed on a semi-annual basis. The objective of the index is to provide investors with a suitable benchmark to help them compare returns on their Shariah compliant investments. For a company to be included on the index, it must meet various key criteria. For example, the nature of business of the investee company should be Halal and the net liquid assets per share should be less than the market price of the share.