Shariah indices weather the storm

Compared to their respective benchmarks, Islam-compliant Shariah Indices have fallen quite less. Shariah indices exclude stocks of businesses considered unethical as per Islamic principles.

While benchmark S&P CNX Nifty has plunged more than 7 per cent since February this year, the S&P CNX Nifty Shariah index has fallen only 4 per cent.

Similarly, CNX 500 index has dropped 10.15 per cent but the CNX 500 Shariah index has fallen only 7 per cent. The best performer in this cluster has been Parsoli