Did you know India has an official Islamic version of Nifty?

The National Stock exchange offers an exclusive "Nifty Sharia Index" which includes only companies in line with Islamic principles, suitable for Islamic investor sentiment & excludes companies deemed Haram.

A thread🧵

NSE Indices Limited, the subsidiary of the National Stock Exchange of India has contracted & pays a Sharia Advisory firm 'Taqwaa' to design the Nifty Sharia index & help identify companies suitable for Islamic investors & filter out Halal non-compliant companies in the market.
Taqwaa as NSE's partner firm has in its Board members, Sharia experts & a founding member of Muslim Law Board. Imagine the outrage if India's primary stock exchange engaged Hindu scholars to create an Index consisting only Hindu owned firms or those appealing to Hindu sentiments.
There is a Shariah screening process done to identify companies deemed to do Halal non-compliant business like Financial institutions & banks as they charge interest on their financial instruments & institutions selling Halal products containing Pork, Alcohol, Tobacco, etc.
Also excluded from the Shariah Index are companies involved in music & movies, as they are deemed to promote vulgarity & promiscuity as per Shariah. And Hotels & restaurants providing non-Halal food are kept out. Composition of the Index is entirely guided by Islamic principles.
A private firm offering such investment vehicles for a religious or ethnic group is understandable but why is the National stock exchange involved in categorization of companies according to Islamic principles? Its akin to imposing costs on firms that have some aspect of "Haram".
Companies eager to impress Islamic investors are coerced to align with Halal values like how most Hotels in India have been forced to. Even simpler institutions like real estate firms have restrictions on not being able to deny property to visitors based on religion or ethnicity.
NSE Sharia Index is essentially a form of discrimination against companies which Islamic lobby can for whatever reason deem Halal non-compliant. Investment decisions of communities vary but National's primary stock exchange shouldn't be offering official avenues to execute them.
Addendum: NSE India's official website has a detailed prospectus on the NSE Sharia Index, its component selection methodology & principles:

https://t.co/3ac8lqjF15

More from All

You May Also Like

Oh my Goodness!!!

I might have a panic attack due to excitement!!

Read this thread to the end...I just had an epiphany and my mind is blown. Actually, more than blown. More like OBLITERATED! This is the thing! This is the thing that will blow the entire thing out of the water!


Has this man been concealing his true identity?

Is this man a supposed 'dead' Seal Team Six soldier?

Witness protection to be kept safe until the right moment when all will be revealed?!

Who ELSE is alive that may have faked their death/gone into witness protection?


Were "golden tickets" inside the envelopes??


Are these "golden tickets" going to lead to their ultimate undoing?

Review crumbs on the board re: 'gold'.


#SEALTeam6 Trump re-tweeted this.
12 TRADING SETUPS which experts are using.

These setups I found from the following 4 accounts:

1. @Pathik_Trader
2. @sourabhsiso19
3. @ITRADE191
4. @DillikiBiili

Share for the benefit of everyone.

Here are the setups from @Pathik_Trader Sir first.

1. Open Drive (Intraday Setup explained)


Bactesting results of Open Drive


2. Two Price Action setups to get good long side trade for intraday.

1. PDC Acts as Support
2. PDH Acts as


Example of PDC/PDH Setup given