The Bombay Stock Exchange's (BSE) newly launched IPO Index, that tracks the value of companies for the first two years after listing on the bourse, rose by 5 per cent during the first week of its introduction.

BSE IPO Index settled the week at 1,997.06 points, up 5 per cent compared to 1,901.67 points on August 21.

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Anil Dhirubhai Ambani Group firm Reliance Power, the most valued scrip in the initial public offer index of the bourse, moved up 3 per cent to end close at Rs 161.15 last week.

Mundra Port and Special Economic Zone that surged nearly 8 per cent to Rs 570.45 for the week ended August 28, while state-run Rural Electrification Corporation settled at Rs 210.90, up 4 per cent.

The BSE barometer Sensex jumped 4.5 per cent during the week to close at 15,922.34 points on August 28.

Last Monday, the Asia's oldest bourse launched IPO Index to track values of firms for the first two years after listing on the bourse. Base date of index is May 3, 2004, whereas base index value has been fixed at 1,000 points.

During the week, Adani Power rose 1 per cent to Rs 104.15. Billionaire Gautam Adani-led power firm got listed on stock exchanges on August 20.

Since listing, Adani Power has gained 4 per cent on BSE. The issue of price of the company was Rs 100 a piece. The total market capitalisation of the firm on Friday last week stood at Rs 22,705.07 crore, making it the fifth most weighted scip in the BSE IPO Index.

Rural Electrification Corporation (REC), in which the Government is likely to divest some of its holding through a follow-on public offer during this fiscal, advanced nearly 8 per cent to Rs 210.90.

However, Powergrid Corporation slipped by 0.04 per cent to Rs 107.60. PGCIL holds a 15.88 per cent weightage in BSE IPO index, making it the most valued public sector firm in the index.

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