Karachi Stock Exchange 100 Index (KSE-100 Index) is a stock index acting as a benchmark to compare prices on the Karachi Stock Exchange

Karachi Stock Exchange

The Karachi Stock Exchange or KSE is a stock exchange located in Karachi, Sindh, Pakistan. It is Pakistan's largest and oldest stock exchange, with many Pakistani as well as overseas listings. Currently located in Stock Exchange Building on Stock Exchange Road, in the heart of Karachi's Business...

 (KSE) over a period of time. In determining representative compaines to compute the index on, companies with the highest market capitalization

Market capitalization

Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...

 are selected. However, to ensure full market representation, the company with the highest market capitalization from each sector is also included.

History

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. KSE-100 index touched the highest ever benchmark of 14,814 points on December 26, 2007, a day before the assassination

Assassination of Benazir Bhutto

The assassination of Benazir Bhutto occurred on 27 December 2007 in Rawalpindi, Pakistan. Bhutto, twice Prime Minister of Pakistan and then-leader of the opposition Pakistan Peoples Party, had been campaigning ahead of elections due in January 2008...

 of former Prime Minister Benazir Bhutto

Benazir Bhutto

Benazir Bhutto was a democratic socialist who served as the 11th Prime Minister of Pakistan in two non-consecutive terms from 1988 until 1990 and 1993 until 1996....

, when the index nosedived. 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.

Top 30 KSE 100 Index companies

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 Pakistani rupee The rupee is the currency of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan, the central bank of the country. The most commonly used symbol for the rupee is Rs, used on receipts when purchasing goods and services. In Pakistan, the rupee is referred to as the... )
1	OGDCL Oil and Gas Development Company Limited Oil and Gas Development Company Limited is a state corporation of Pakistan. It was established in 1961 to prospect, refine and sell oil and gas in Pakistan. By 1966, OGDCL had emerged as the dominant prospector in Pakistan with several significant discoveries in the Indus Basin. OGDCL was...	14.14	550,948,930,000
2	MCB bank	7.17	279,583,150,000
3	National bank of Pakistan National Bank of Pakistan National Bank of Pakistan is one of the largest commercial bank operating in Pakistan. It has redefined its role and has moved from a public sector organisation into a modern commercial bank...	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 Pakistan Telecommunication Company Ltd Pakistan Telecommunication Company Limited is the largest telecommunication company in Pakistan.The company provides telephony services nation-wide and is the backbone for country's telecommunication infrastructure despite arrival of a dozen other telecommunication comanies, including giants like...	4.28	166,810,800,000
7	United bank United Bank United Bank Limited is one of the largest commercial banks in Pakistan having more than 1,100 online branches inside the country. Its 15 branches outside the country are in the United States of America, Qatar, UAE, Bahrain, and Republic of Yemen. It also has representative offices in Tehran,...	4.13	161,025,160,000
8	Jahangir Siddiqui & company	2.66	103,600,000,000
9	Pakistan state oil Pakistan State Oil Pakistan State Oil is the oil market leader in Pakistan. Its well established infrastructure, built at par with international standards, represents 82% of country’s storage...	2.08	81,034,440,000
10	Allied bank Allied Bank Limited Allied Bank with its Registered Offices in Karachi and Lahore is one of the largest banks within the country with 805 Branches connected to an online network. It was the first Muslim Bank Established in Pakistan before Partition with the name of Australasia Bank...	2.01	78,371,670,000
11	Nestlé Pakistan Nestlé Nestlé S.A. is the world's largest food and nutrition company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri...	1.93	75,280,250,000
12	Pakistan oilfields Pakistan Oilfields The Pakistan Oilfields Limited , is a subsidiary of the Attock Group of Companies, was incorporated on November 25, 1950. In 1978, Pakistan Oilfields took over the exploration and production business of Attock Oil Company. Since then, Pakistan Oilfields has been investing independently...	1.71	66,824,220,000
13	Fauji fertilizer company Fauji Fertilizer Company Limited Fauji Fertilizer Company Limited is the largest chemical fertilizer producer of Pakistan with biggest market share in the country.- History :...	1.68	65,607,390,000
14	ABN AMRO ABN AMRO ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis...	1.63	63,666,370,000.
15	Engro chemical Engro Corporation Engro Corporation is one of the leading Pakistani business conglomerates with stakes in the fertilizer, food, power generation, petrochemicals, automation and terminal storage industries...	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 Kot Addu Power Company The Kot Addu Power Company Limited , was incorporated in 1996, location in Kot Addu, District Muzaffargarh, Punjab, Pakistan. Kot Addu Power Plant was built by the Pakistan Water and Power Development Authority . In April, 1996, the Company was incorporated as a public limited company. Kot Addu...	1.19	46,565,400,000
19	EFU general insurance	1.16	45,300,000,000
20	Bank of Punjab Bank of Punjab The Bank of Punjab is a bank based in Lahore, Punjab, Pakistan. It serves Pakistan and functions as an international bank.-History:The bank was established in 1989, pursuant to The Bank of Punjab Act 1989, and was given the status of a retail bank in 1994....	1.13	43,869,030,000
21	Fauji fertilizer bin Qasim	1.06	41,474,480,000
22	Bank Alfalah Bank Alfalah Bank Alfalah Limited is a private bank in Pakistan owned by the Abu Dhabi Group. Bank Alfalah was incorporated on June 21, 1992 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from November 1, 1992...	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 Hub Power Company Hub Power Company Limited is located at Hub, Lasbela District, Balochistan, Pakistan. The Hub Power Company is a large, private-sector power company and its 1,200 MW plant is located 60 km from Karachi in Hub...	0.98	38,128,240,000
27	Dawood Hercules chemicals Dawood Hercules Chemicals Limited Dawood Hercules Chemicals Limited is a large manufacturer of urea fertilizer in Pakistan under the Bubber Sher brand name. The company was founded in 1971, and its plant is located near Sheikhupura, about 28 Km from Lahore, in the province of Punjab. Its shares are traded on the Karachi Stock...	0.91	35,549,620,000
28	Habib metropolitan bank	0.91	35,354,280,000
29	EFU life assurance EFU Life EFU Life Assurance Ltd. is a life insurance company based in Pakistan. It is the largest private sector life insurance company in Pakistan.By gross written premium, EFU Life has a market share of more than 58%of private sector....	0.89	34,750,000,000
30	Lucky cement Lucky Cement Lucky Cement Limited is the largest cement producer in Pakistan. Its shares are traded on the Karachi Stock Exchange, and are part of the KSE 100 Index. Its symbol in the Karachi Stock Exchange is 'LUCK'. The company's highest share price was PKR 147.00, on 18 April 2008-History:Lucky Cement...	0.86	33,593,480,000

Market Indices

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.

Monthly Performance

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.

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

Impact of 2008 Economic/Political Crisis on KSE 100 Index

• April 20 : Karachi Stock Exchange achieved a major milestone when KSE-100 Index crossed the psychological level of 15,000 for the first time in its history and peaked 15,737.32 on 20 April, 2008. Moreover, the increase of 7.4 per cent in 2008 made it the best performer among major emerging markets
  Emerging markets
  Emerging markets are nations with social or business activity in the process of rapid growth and industrialization. Based on data from 2006, there are around 28 emerging markets in the world . The economies of China and India are considered to be the largest...
  
  .
• May 23: Record high inflation in the month of May, 2008 resulted in the unexpected increase in the interest rates by State Bank of Pakistan
  State Bank of Pakistan
  The State Bank of Pakistan is the central bank of Pakistan. While its constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until January 1, 1974, when the bank was nationalized, the scope of its functions was considerably enlarged...
  
   which eventually resulted in sharp fall in Karachi Stock Exchange.
• July 17 :Angry investors attacked the Karachi Stock Exchange in protest at plunging Pakistani share prices.
• July 16 : KSE-100 Index dropped one-third from an all-time high hit in April, 2008 as rising pressure on shaky Pakistan's coalition government to tackle Taliban militants exacerbates concern about the country's economic woes.
• August 18: KSE 100 Index rose more than 4% after the announcement of the resignation of President Pervez Musharraf
  Pervez Musharraf
  Pervez Musharraf , is a retired four-star general who served as the 13th Chief of Army Staff and tenth President of Pakistan as well as tenth Chairman of the Joint Chiefs of Staff Committee. Musharraf headed and led an administrative military government from October 1999 till August 2007. He ruled...
  
   but Credit Suisse Group said that Pakistan's Post-Musharraf rally in Stock Exchange will be short-lived because of a rising fiscal deficit and runaway inflation.
• August 28 :Karachi Stock Exchange set a floor for stock prices to halt a plunge that has wiped out $36.9 billion of market value
  Market value
  Market value is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and may differ in some...
  
  since April.
• December 15: Trading resumes after the removal of floor on stock prices that was set on August 28 to halt sharp falls.

External links

• Official Website
• Pakistan Stock Exchange
• BBC Market Date: KSE-100