PSX launches new Islamic index

KARACHI: The Pakistan Stock Exchange (PSX) has launched a new Islamic equity index, the Mahaana Islamic Index (MII30), which tracks the performance of the top 30 Shariah-compliant companies in the country, the exchange said on Friday.

The index, which will go live on Monday, has a base value of 10,000 points and is based on the free float market capitalization of the companies selected from the KMI All share index. The Index will measure the performance of the top 30 Shariah-compliant companies based on the free float market capitalization, having at least an average daily value traded of Rs10 million in the last 12 months.