Direct Answer
The KSE-100 Index is a rule-based measurement of Pakistani large-cap equity benchmark, maintained by Pakistan Stock Exchange. Like every index it owns nothing: it is a number produced by applying a published weighting formula to a selected list of companies, revised on a schedule the provider sets.
What this index covers
The KSE-100 Index covers Pakistani large-cap equity benchmark, within the Pakistan market. Pakistan Stock Exchange defines which securities are eligible, how they are selected from that pool, and how much each one contributes to the published number.
The name states a target of 100 companies. A target is not a guarantee of the exact count on any given day: corporate actions, dual share classes and pending additions all move the real number around it.
How constituents are weighted
Free float market capitalisation weighted, with free float excluding government, sponsor and director, cross holding and locked in shares. The headline index is a total return index that adjusts for cash dividends, bonus and rights; a price return variant skips the cash dividend adjustment.
The weighting method is the single biggest driver of how an index behaves. Two indexes covering the same market can diverge for years purely because they weight differently, which is why comparing index levels without knowing the method tells you very little.
What qualifies for inclusion
100 companies: the largest by free float market capitalisation in each sector (open end funds and ETFs excluded), then the remaining places filled by size in descending order. A company on the defaulters counter or suspended or non tradable in the prior six months is ineligible.
Eligibility rules are the part of an index most readers never look at and the part that decides what it can possibly measure. A screen that excludes a whole sector, or admits only one listing venue, shapes the result far more than any day of trading does.
How long a listing must exist first
A newly listed company qualifies after one recomposition period if its free float capitalisation is at least 2% of the total.
A seasoning rule is why a large new listing does not appear in an index the week it starts trading. It is a deliberate lag, and it means an index can under-represent a fast-growing part of the market for months at a time.
When the membership is revised
Recomposed semi-annually using data from the last working day of February and August, with notice on the 15th of March and September and implementation on the first working day of April and October.
Reconstitution is the one date an index changes shape by design rather than by price. Funds tracking it have to trade toward the new membership, which is why the schedule matters to anyone holding the tracker rather than only to the provider.
The rule that surprises people
A company outside the index enters as its sector's largest only after holding that rank for two consecutive recompositions, or at the next recomposition if it beats the current sector leader by at least 10%.
References
- Pakistan Stock Exchange: Pakistan Stock Exchange, KSE100 and KSE100PR Index Brochure Covering Index Methodology (June 2025), as published 2025. Every rule described on this page is taken from this document.
Current KSE-100 Index constituents
Pakistan Stock Exchange publishes and licenses the KSE-100 Index constituent list. Swoopr does not republish it here. The provider's own page is the authoritative source for current membership and weights.
Related reading
- All stock market indexes: how indexes are built, weighted and revised.
- Emerging Markets indexes: others covering the same region.
- Index concentration: measuring how much of an index sits in its largest holdings.
- Index rebalancing and inclusion effects: what happens to a stock when index membership changes.
Frequently Asked Questions
Who maintains the KSE-100 Index?
Pakistan Stock Exchange maintains the KSE-100 Index and publishes the methodology document that defines its eligibility and weighting rules.
What does the KSE-100 Index measure?
It measures Pakistani large-cap equity benchmark. The index is a calculated number applying a weighting formula to a selected list of companies, and it holds nothing itself.
Where can I see the current KSE-100 Index constituents?
Pakistan Stock Exchange publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence.