The Pakistan Stock Exchange has successfully finalized the comprehensive semi-annual recomposition of the PSX-KMI All Share Islamic Index, significantly expanding the breadth of the Shariah-compliant benchmark. Following the extensive review process, the index will now track a total of three hundred nine public enterprises, mirroring the evolving landscape of Islamic equity options within the domestic capital market. The management of the apex bourse confirmed that the updated index configuration incorporates forty-two newly eligible corporate entities, while simultaneously removing nineteen previous constituents that no longer meet the stringent criteria.
According to the official circular disseminated through the public notification system of the exchange, the newly structured index composition is scheduled to take formal effect on Friday, June 5, 2026. The capital market operators executed this periodic indexing exercise based on comprehensive Shariah status assessments provided by the dedicated partner Shariah Advisor of the exchange. The regulatory evaluations were conducted by scrutinizing the audited financial accounts of the listed entities as of December 31, 2025, in strict accordance with the mandatory selection criteria detailed in the official KMI All Share Index framework brochure.
The massive influx of forty-two incoming enterprises covers a highly diverse array of industrial sectors, expanding options for Islamic fund managers and individual retail investors alike. Notable additions to the benchmark include large-scale manufacturing and consumer goods entities such as Colgate-Palmolive Pakistan Limited, Service Industries Limited, Unity Foods Limited, and Al Shaheer Corporation Limited. The sugar manufacturing sector also saw a substantial increase in representation through the qualification of prominent players including Baba Farid Sugar Mills Limited, Chashma Sugar Mills Limited, Mehran Sugar Mills Limited, Noon Sugar Mills Limited, Mirpurkhas Sugar Mills Limited, Sakrand Sugar Mills Limited, and Shakarganj Limited.
Furthermore, the textile and spinning sectors registered dozens of new entries, reflecting a sector-wide alignment with Islamic financial parameters. These additions feature companies like Al-Abid Silk Mills, Asim Textile Mills, Dewan Farooque Spinning Mills, Dost Steels, Faisal Spinning Mills, Gadoon Textile Mills, Hamid Textile Mills, J.A. Textile Mills, and Quetta Textile Mills Limited. Technology and logistical enterprises also made successful entries, including Itanz Technologies Limited, Quantum Data Technologies Limited, and Pakistan International Container Terminal, alongside financial inclusions such as First National Bank Modaraba.
Conversely, the deletion of nineteen corporate entities from the index was driven primarily by a failure to maintain compliance with established Shariah parameters. Large and highly liquid stocks were among the prominent exclusions, including Attock Petroleum Limited, National Foods Limited, Habib Sugar Mills Limited, Al-Abbas Sugar Mills Limited, and Shezan International Limited. Other notable corporate exclusions include Saif Power Limited, TPL Properties Limited, TPL Trakker Limited, Kohinoor Mills Limited, and Treet Battery Limited. Regulatory documentation notes that while the vast majority of these deletions were triggered by direct Shariah non-compliance across financial or operational ratios, Unicap Modaraba was specifically removed due to the total absence of a valid Shariah compliance certificate.
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