Shariah stock screener: see which stocks are halal

MarketMyna checks every stock's business and finances against the rules behind the S&P / Dow Jones Islamic indices, the method the Nifty and BSE Shariah indices (and India's Ethical funds) follow. It flags where the stricter AAOIFI standard would differ, shows each ratio against its limit and tells you how much of a dividend to give to charity. Free on every plan.

Step 1: what the company does

Its core business has to be permissible. Conventional banks and insurers, alcohol, tobacco, pork, gambling, adult entertainment and weapons are screened out. Mixed businesses such as hotels, media and REITs are marked Doubtful so you can look closer.

Step 2: how it is financed

Interest-bearing debt, and cash plus interest-bearing deposits, must each stay under 33% of the 36-month average market value. Receivables plus cash must stay under 49%. A ratio between the AAOIFI 30% and the S&P 33% limit is flagged as Doubtful.

Step 3: where its income comes from

Interest and other non-permissible income must stay under 5% of revenue. MarketMyna shows that share on the stock page, so you know what part of each dividend to purify.

Four clear verdicts

Halal, Doubtful, Not compliant, or Not enough data. When a company does not publish enough figures to screen it, MarketMyna says so instead of guessing.

Halal filter on the screener

Switch on Ethical only in the Markets screener to see only Shariah-compliant stocks, then combine it with sector, valuation and technical filters. It works for Indian stocks (NSE and BSE) and the other markets MarketMyna covers.

Frequently asked questions

Which Shariah standard does MarketMyna use?

The S&P / Dow Jones Islamic index method, which the Nifty Shariah and BSE Shariah indices are based on. Where the stricter AAOIFI standard gives a different answer, the stock is flagged so you can see both.

Is the Shariah screener free?

Yes. Shariah screening, the halal filter and the purification share are free on every plan.

What is dividend purification?

If part of a company's income comes from interest or other non-permissible sources, that share of each dividend is given to charity. MarketMyna shows the percentage for every screened stock.

Is a Halal verdict a fatwa?

No. It is a screening aid built from published company data, which can be late or incomplete. For a ruling on a specific investment, ask a qualified Shariah scholar.

MarketMyna is an analysis platform, not investment advice. It is not registered with SEBI as an Investment Adviser or Research Analyst.