| KSE 100 Index | |
| Operator: | Pakistan Stock Exchange Limited |
| Exchanges: | Pakistan Stock Exchange |
| Constituents: | 100 |
| Cap Level: | Large |
| Weighting: | Capitalization-weighted index |
| Related: | KSE-30 Index KMI 30 Index |
The KSE-100 Index is a stock index acting as a benchmark to compare prices on the Pakistan Stock Exchange (PSX) over a period.[1]
In determining representative companies 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.[2]
The index was launched in November 1991 with a base of 1,000 points.[3] By February 2007, it had skyrocketed to 12,285 points.[4]
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.[5]
The recovery was started.
As of 7 November 2012 the index recorded highest level of 16,218 points and now KSE is being considered as a best emerging market in Asia with returns in financial 2011-2012 up to 40%-50%.
As of April 30, KSE-100 Index recorded a new increase in its value standing at 28,913 points, that is more than 45.2% since the last fiscal year of 2012–2013.[13]
By the month of June, KSE-100 was in positive conditions and it achieved 38,777 points on 17 June 2016.[14]
In January 2017, the stock market hit the all-time high of 49,969 points. On 13 February, it stands at 49,876 points.[15]
Pakistan qualified for the popular MSCI Emerging Markets Index in May 2017, an upgrade from Morgan Stanley Capital International's (MSCI) Frontier Market (FM) index.[16]
On May 25, 2017, the KSE-100 index reached the all-time high of 53,124 points, later it tanked to 37,919 points in a matter of seven months.[17]
Following Britain's decision to leave EU on 24 June, KSE dropped 1,100 points (3.1 percent) as stock markets went in turmoil as investors sought safe havens like gold and government bonds.[18]
The first case of COVID-19 in Pakistan was reported on 26 February 2020. Its impact resulted in the fall of around 62% of KSE-100 index, lowest at 27,200 on March 25, 2020, from the high of 43,218 points on January 13, 2020. Despite the fall greater than 2005 and 2008 crisis, The market remained calm and confident, and no investors have made accusations of market manipulations and unfair trading.[19]
The following table shows the annual performance of the KSE 100 Index based on closing on 31 December each year, which was calculated back to 1990 when the index was launched.[20] [21]
| Year | Closing level | Change in Index in Points | Change in Index in % |
|---|---|---|---|
| 1990 | 596 | N/A | N/A |
| 1991 | 1,640 | 1,044 | 175.16 |
| 1992 | 1,244 | −396 | −24.14 |
| 1993 | 2,164 | 920 | 73.95 |
| 1994 | 2,049 | −115 | −5.31 |
| 1995 | 1,498 | −551 | −26.89 |
| 2001 | 1,273.06 | −234.53 | −15.56 |
| 2002 | 2,701.42 | 1,428.36 | 112.20 |
| 2003 | 4,471.82 | 1,770.40 | 65.54 |
| 2004 | 6,218.46 | 1,746.64 | 39.06 |
| 2005 | 9,556.61 | 3,338.15 | 53.68 |
| 2006 | 10,040.50 | 483.89 | 5.06 |
| 2007 | 14,075.83 | 4,035.33 | 40.19 |
| 2008 | 5,865.01 | −8,210.82 | −58.33 |
| 2009 | 9,386.92 | 3,521.91 | 60.05 |
| 2010 | 12,022.46 | 2,635.54 | 28.08 |
| 2011 | 11,347.66 | −674.80 | −5.61 |
| 2012 | 16,905.33 | 5,557.67 | 48.98 |
| 2013 | 25,261.14 | 8,355.81 | 49.43 |
| 2014 | 32,131.28 | 6,870.14 | 27.20 |
| 2015 | 32,816.31 | 685.03 | 2.13 |
| 2016 | 47,806.97 | 14,990.66 | 45.68 |
| 2017 | 40,471.48 | −7,335.49 | −15.34 |
| 2018 | 37,066.67 | −3,404.81 | −8.41 |
| 2019 | 40,735.08 | 3,668.41 | 9.90 |
| 2020 | 43,755.38 | 3,020.30 | 7.41 |
| 2021 | 44,596.07 | 840.69 | 1.92 |
| 2022 | 40,420.45 | -4,175.62|style="color:red"| -9.36|-|2023|62,451.04|22,030.59|54.50|-|}Market indicesKSE 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 capitalisation-weighted index and consists of 100 companies representing about 90 percent of market capitalisation 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. The KSE 100 index reached its highest ever 53,103 points in May 2017. See alsoExternal links |