Karachi Stock Exchange 100 Index (KSE-100 Index) is a stock index acting as a benchmark to compare prices on the Karachi Stock Exchange (KSE) over a period. In determining representative compaines to compute the index on, companies with the highest market capitalization are selected. However, to ensure full market representation, the company with the highest market capitalization from each sector is also included.
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The index was launched in November 1991 with a base of 1,000 points. By 2001, it had grown to 1,770 points. By 2005, it had skyrocketed to 9,989 points. It then reached a peak of 12,285 in February 2007.[1] KSE-100 index touched the highest ever benchmark of 14,814 points on December 26, 2007, a day before the assassination of former Prime Minister Benazir Bhutto, when the index nosedived.[2] The index recovered quickly in 2008, reaching new highs near 15,500 in April. However, by November 22, 2008 during the global financial crisis of 2008 it had fallen to 9,187.[3]
The following is a list of 30 companies with the highest market capitalization volume and their respective weightages in the index and account for over 80% of the KSE index as of February 20, 2008:
| Number | Company Name | Weightage (%) | Market Capitalization (PKR) |
|---|---|---|---|
| 1 | OGDCL | 14.14 | 550,948,930,000 |
| 2 | MCB bank | 7.17 | 279,583,150,000 |
| 3 | National bank of Pakistan | 5.43 | 211,726,900,000 |
| 4 | Pakistan petroleum | 5.06 | 197,201,080,000 |
| 5 | Standard chartered bank | 4.41 | 171,704,800,000 |
| 6 | PTCL | 4.28 | 166,810,800,000 |
| 7 | United bank | 4.13 | 161,025,160,000 |
| 8 | Jahangir Siddiqui & company | 2.66 | 103,600,000,000 |
| 9 | Pakistan state oil | 2.08 | 81,034,440,000 |
| 10 | Allied bank | 2.01 | 78,371,670,000 |
| 11 | Nestlé Pakistan | 1.93 | 75,280,250,000 |
| 12 | Pakistan oilfields | 1.71 | 66,824,220,000 |
| 13 | Fauji fertilizer company | 1.68 | 65,607,390,000 |
| 14 | ABN AMRO | 1.63 | 63,666,370,000. |
| 15 | Engro chemical | 1.45 | 56,492,990,000 |
| 16 | Arif Habib securities | 1.40 | 54,660,000,000 |
| 17 | NIB bank | 1.27 | 49,320,250,000 |
| 18 | Kot Addu power company | 1.19 | 46,565,400,000 |
| 19 | EFU general insurance | 1.16 | 45,300,000,000 |
| 20 | Bank of Punjab | 1.13 | 43,869,030,000 |
| 21 | Fauji fertilizer bin Qasim | 1.06 | 41,474,480,000 |
| 22 | Bank Alfalah | 1.03 | 39,975,000,000 |
| 23 | Adamjee insurance | 1.01 | 39,258,300,000 |
| 24 | Pak tobacco company | 0.99 | 38,707,280,000 |
| 25 | Sui northern gas pipelines | 0.98 | 38,300,100,000 |
| 26 | Hub power company | 0.98 | 38,128,240,000 |
| 27 | Dawood Hercules chemicals | 0.91 | 35,549,620,000 |
| 28 | Habib metropolitan bank | 0.91 | 35,354,280,000 |
| 29 | EFU life assurance | 0.89 | 34,750,000,000 |
| 30 | Lucky cement | 0.86 | 33,593,480,000 |
KSE began with a 50 shares index. As the market grew a representative index was needed. On November 1, 1991 the KSE-100 was introduced and remains to this date the most generally accepted measure of the Exchange. The KSE-100 is a capital weighted index and consists of 100 companies representing about 90 percent of market capitalization of the Exchange. In 1995 the need was felt for an all share index to reconfirm the KSE-100 and also to provide the basis of index trading in future. On August 29, 1995 the KSE all share index was constructed and introduced on September 18, 1995.
Market monthly performance during the period January 2006 to October 2009 is given under with high rated index showing in bold text. The highest ever closing for KSE 100 Index was achieved at 15,676.34 points on 18 April 2008.[4]
| Number | Volume | Index | Date |
|---|---|---|---|
| 1 | 402,639,040 | 9,672.47 | 02/01/2006 |
| 2 | 805,494,080 | 10,497.07 | 01/02/2006 |
| 3 | 761,960,000 | 11,473.99 | 01/03/2006 |
| 4 | 387,000,896 | 11,573.94 | 03/04/2006 |
| 5 | 331,884,928 | 11,572.94 | 02/05/2006 |
| 6 | 251,317,072 | 10,183.77 | 01/06/2006 |
| 7 | 152,448,096 | 9,603.71 | 03/07/2006 |
| 8 | 284,526,880 | 10,507.09 | 01/08/2006 |
| 9 | 171,682,624 | 10,170.97 | 01/09/2006 |
| 10 | 224,694,528 | 10,616.24 | 02/10/2006 |
| 11 | 310,985,696 | 11,011.13 | 01/11/2006 |
| 12 | 172,052,400 | 10,388.19 | 01/12/2006 |
| 13 | 39,200,120 | 10,066.68 | 03/01/2007 |
| 14 | 480,905,216 | 11,349.44 | 01/02/2007 |
| 15 | 229,188,400 | 11,207.64 | 01/03/2007 |
| 16 | 73,447,224 | 11,277.13 | 02/04/2007 |
| 17 | 431,508,448 | 12,433.76 | 02/05/2007 |
| 18 | 460,166,784 | 12,933.66 | 01/06/2007 |
| 19 | 471,708,992 | 13,929.70 | 02/07/2007 |
| 20 | 326,983,008 | 13,689.03 | 01/08/2007 |
| 21 | 179,963,648 | 12,233.14 | 03/09/2007 |
| 22 | 367,242,752 | 13,737.74 | 01/10/2007 |
| 23 | 328,071,488 | 13,932.41 | 01/11/2007 |
| 24 | 137,879,220 | 13,925.59 | 03/12/2007 |
| 25 | 375,074,240 | 13,666.85 | 01/01/2008 |
| 26 | 151,358,160 | 13,974.40 | 01/02/2008 |
| 27 | 196,083,660 | 14,816.50 | 03/03/2008 |
| 28 | 218,399,820 | 15,210.17 | 01/04/2008 |
| 29 | 257,965,456 | 14,956.82 | 02/05/2008 |
| 30 | 169,125,456 | 12,281.20 | 02/06/2008 |
| 31 | 60,751,820 | 12,221.53 | 01/07/2008 |
| 32 | 72,835,000 | 10,171.39 | 01/08/2008 |
| 32 | 23,691,000 | 9,210.15 | 01/09/2008 |
| 34 | 1,560,000 | 9,178.97 | 06/10/2008 |
| 35 | 457,000 | 9,183.14 | 03/11/2008 |
| 36 | 102,000 | 9,187.10 | 01/12/2008 |
| 37 | 75,434,000 | 5,753.18 | 01/01/2009 |
| 38 | 177,668,000 | 5,333.95 | 02/02/2009 |
| 39 | 85,351,000 | 5,681.29 | 02/03/2009 |
| 40 | 207,282,000 | 6,931.90 | 01/04/2009 |
| 41 | 123,539,000 | 7,062.25 | 04/05/2009 |
| 42 | 112,955,000 | 7,210.34 | 01/06/2009 |
| 43 | 104,614,000 | 7,270.72 | 01/07/2009 |
| 44 | 127,459,000 | 7,716.99 | 03/08/2009 |
| 45 | 302,831,000 | 8,769.24 | 01/09/2009 |
| 46 | 222,370,000 | 9,301.18 | 01/10/2009 |