Pakistani stock market comprises of 3 stock markets namely; Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE), and Islamabad Stock Exchange (ISE). Karachi Stock market is the leading stock exchange in Pakistan. It comprises of 4 indices, i.e. All Share index, KSE-100 index, KSE-30 index, and KMI (KSE Meezan Index)-30 index. The KSE-100 was launched in 1991 with a base of 10,000 points. It is an index acting as benchmark to compare prices on the Karachi Stock Exchange over a period of time. The index comprises 100 companies selected on the basis of sector representation and highest market capitalization, which captures over 80% of the total market capitalization of the companies listed on stock exchange. Out of the 35 sectors, 34 companies are selected i.e. one company from each sector (excluding Open-End Mutual Fund Sector) on the basis of the largest market capitalization and the remaining 66 companies are selected on the basis of largest market capitalization in descending
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