This paper analyzes the ICAPM multifactor models, tested over 6 portfolios sorted on
size and book-to-market of KSE 100 Index. Companies are included in the study for the
calendar year 2010 to 2014 that are listed in KSE 100 index. The Company should have
regular price record at the end of every year and should provide accounting data publicly
available for June of every year to be selected in sample