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Revised KSE-100 index

The revised index will represent 85 per cent of the total market value

Aug 28 - Sep 03, 2000

Karachi Stock Exchange has decided to revise the existing KSE-100 index. The new index will be implemented from September 4, 2000. The recomposed index will represent nearly 85 per cent of the total market value as compared to 81.7 per cent represented by the existing index. Despite the change PTCL, PSO and HUBCO will remain the heavy-weighted scrips with a total share of 42 per cent in the news index. The inclusion of FFC-Jordan will provide a chance to the punters to manipulate the index. A one rupee change in its price will effect the recomposed index by 1.5 points.

Being a value-based, the KSE-100 index needs periodic revision to keep it representative of the market activity. The selection criterion of companies in the index is based on two rules. According to first rule, the largest market cap company from each of 27 sectors is selected and as per second rule two top market stocks are picked in descending order. Based on the criterion 12 companies have replaced the same number of old stocks that are being excluded. The replacement is on the basis of prices quoted on August 17, 2000.

The presence of names like National Fibres, Pakland Cement and some others seems to be odd. However, experts say that selection of a company is based on simple arithmetic and has no subjectivity. The same is done globally. Going one step further there were suggestions that keeping in view the performance of listed companies, Karachi Stock Exchange should not include those companies in the index which are not in operation or trading has been suspended.

There was also a suggestion that the exchange must find out the percentage of free float shares. Some of the listed companies have become private limited companies over 95 per cent of the total shares are held by the sponsors and there is virtually no trading of their shares. All such companies should be delisted.


Mutual Funds



02. Grindlays*

Leasing Companies

03. Orix Leasing*

04. NDLC

Investment Cos/Securities Cos/Banks

05. Muslim Comm. Bank*

06. Bank of Punjab

07. Faysal Bank

08. PlClC

09. Crescent Bank

10 Al-Faysal Bank

11. Bank AL-Habib

12. Askari Comm. Bank

13. Metropolitan Bank

14. Soneri Bank

15. Prime Bank

16. Union Bank


17. Adamjee*

18. East West

Textile Spinning

19. Dewan Textile*

20. Gadoon Textile

21. Sapphire Textile

22. Gulistan Textile

Textile Weaving

23. Kohinoor Weaving*

Textile Composite

24. Nishat Mills*

25. Crescent Textile

26. Gul Ahmed Textile

27. Sapphire Fibre


28. Bannu Woollen*

Synthetics & Rayon

29. Dewan Salman*

30. Dhan Fibres

31. Ibrahim Fibres

32. Pakistan Synthetic

33. National Fibres

34. Rupali

35. Gatron Industries.

36. S. G. Rayon


37. Thal Jute*

Sugar & Allied

38. Habib Sugar


39. Lucky Cement*

40. Chakwal Cement

41. Maple Leaf

42. Cherat Cement

43. D. G. Cement

44. Pioneer Cement

45. Pakland Cement

46. Fecto Cement


47. Lakson Tobacco*

Fuel & Energy

48. PSO*

49. Hub Power

50 . Sui Southern Gas

51. Shell Pakistan.

52. Sui Northern

53. Pakistan Oilfields

54. National Refinery

55. KESC

56. Attock Refinery

57. Mari Gas

58. Pakistan Refinery

59. Kohinoor Energy


60. Crescent Steel*

Auto & Allied

61. Al Ghazi Tractors *

62. Indus Motor

63. Honda Atlas Cars

64. Hinopak

65. General Tyre

66. Pak Suzuki

Cable & Electrical Goods

67. Siemens Engg*

68. Philips Elec.

Transport & Communication

69. PTCL (A)*

70. PlAC (A)

71. Telecard

Chemical & Pharmaceutical

72. ICI Pakistan*

73. Fauji Fertilizer

74. Engro Chemical

75. Dawood Hercules

76. Glaxo Laboratories

77. BOC (Pak)

78. Cyanamid Pak

79 Searle Pak

80. S. K. & F

81. Reckett & Colman

82. Abbott Laboratories

83. Sitara Chemical

84. Hoechst Marion

85. Parke Davis

86. Knoll Pharma

87. FFC-Jordan

Paper & Board

88. Packages*

89. Security Paper

90. Century Paper

Vanaspati & Allied

91. Wazir Ali Industries*


92. Gammon Pakistan

Leather & Tanneries

93. Service Industries*

Foods & Allied

94. Lever Brothers*

95. Nestle Milkpak

96. Rafhan Bestfoods

Glass & Ceramics

97. Ghani Glass Limited*


98. Tri Pack*

99. Pakistan Services

100. Gillette Pakistan

* On Sector Rule basis

Rest are on Market Capitalization Rule basis