The KSE is expected to constitute a new 30-company sensitive index comprising free float scrips from May.

After the press conference of Managing Director Moin Fudda here on Wednesday, KSE Deputy General Manager Zafar Abdullah said that the management has almost completed the exercise of constituting a new index for the local bourse.

He said that the new index is likely to start working from May and would be comprised of 30 companies and would reflect the movement of the listed companies. The main criteria of this sensitive 30-company index would be free float of scrips.

Zafar Abdullah said that the Oil and Gas Development Company’s free float of shares available in the market is 200 million shares or 5 percent offloaded by the Privatisation Commission.

This free float would be part of the new index and similarly the available shares of other 29 companies would be listed on the sensitive index.

At present, NIFTY and Mumbai stock have 30 companies index, showing daily price fluctuation of the traded shares.