KMI-30 Index Today

KMI-30 stands for the KSE Meezan Index 30. The KMI-30 holds thirty Shariah-compliant companies screened against criteria set with Meezan Bank: the business activity itself must be permissible, and the company must also pass financial ratio tests covering interest-bearing debt, illiquid assets and non-compliant income. Companies are re-screened periodically and dropped when a ratio breaks, so turnover is higher than a purely size-ranked index. It is the reference point for Islamic funds in Pakistan and typically carries less bank exposure and more energy and cement than the KSE-100.

The KMI-30 is calculated on free-float market capitalisation. Each constituent contributes in proportion to the value of the shares actually available to trade, not its total shares in issue, so a company whose sponsors hold most of the stock moves the index far less than its headline size suggests. The total is then divided by a divisor that is adjusted whenever the membership changes or a company issues or buys back shares, which is what keeps the level continuous across a recomposition rather than jumping on the day of the change. The series is scaled from a base of 10,000 points at 30 June 2008.

The KMI-30 currently holds 30 companies, listed in full on this page with each one's share of the index by market capitalisation. The list comes from the exchange's own daily market watch, so it changes when the exchange changes it.