The Karachi Stock Exchange has announced that the KSE-30 Index based on free-float of shares with base value of 10,000 points will be formally implemented from September 1, 2006. The primary objective of the KSE-30 Index is to have a benchmark by which the stock price performance can be compared to over a period of time.
A copy of the notice issued by the exchange, containing the list of companies along with brochure with relevant details on KSE-30 Index are enclosed for information. It would be relevant to mention that implementation of KSE-30 Index will be in addition to the existing two indices of the Exchange ie, KSE-100 Index and KSE All Share Index.
The KSE-30 Index will be recomposed on semi-annual basis and the next re-composition will be carried out on the basis of relevant data as on December 31, 2006.
The new KSE-30 index would be based on MCB Bank Limited, National Bank of Pakistan, Pakistan Oilfields Limited, Pakistan Petroleum Limited, Oil & Gas Development Company Limited, Fauji Fertiliser Company Limited, Pakistan Telecommunication Company Limited, Pakistan State Oil Company Limited, Hub Power Company Limited, Engro Chemical (Pakistan) Limited, PICIC, D. G. Khan Cement Company Limited, The Bank of Punjab, Fauji Fertiliser Bin Qasim Limited, Lucky Cement Limited, Faysal Bank Limited, Bank AL-Habib Limited, Nishat Mills Limited, Askari Commercial Bank Limited, Adamjee Insurance Company Ltd, Kot Addu Power Company Limited, Unilever Pakistan Limited, Sui Northern Gas Pipelines Limited, Sui Southern Gas Company Limited, Dawood Hercules Chemicals Limited, Packages Limited, Pak Suzuki Motor Company Limited, Bank AL-Falah Limited, Fauji Cement Company Limited, Maple Leaf Cement Factory Limited.
The Impact Cost for Calculation of Liquidity feature will be also considered on the next review in line with international best practices.
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