Instanex FII index outperforms other Asian indices

Outperforming other Asian markets, India’s Instanex FII Index is up 1.97% at 1300 hrs, while the Hang Seng is up 1.51% and Straits Times is up 1.44%. Confirming this to be a speculator and retail investor driven rally, India’s Sensex is up 2.39% and Nifty is up 2.38%, while the Instanex DII 15 portfolio is up only 2.01%.

The Instanex Top 15 portfolio that represents India's most valuable companies is last among the Instanex ownership indices, up just 1.69%, further establishing that big-money is not causing this rally.
 
Of the 15 components of the index, 13 have gained and two are down. The main gainers are BHEL (+4.03%; weight 5.97%), Reliance Ind (+3.80%; weight 17.25%) and ICICI Bank (+3.59%; weight 7.16%) while the two losers are HUL (-0.96%; weight 3.92%) and Bharti Airtel (-0.46%; weight 12.42%).
 
ABOUT THE INSTANEX FII INDEX

The INSTANEX FII INDEX™ tracks the price performance of the portfolio of listed Indian equity shares owned by foreign institutional investors (FIIs). The Index comprises the top 15 companies by value of FII holdings subject to (a) Stock future listed in India, (b) Restriction of company weight to 20%, industry to 30% and principal shareholder to 30%. Index weights are based on adjusted market value of holdings. The Index is adjusted for all corporate actions, including bonus, split and rights. Reviews are conducted quarterly and companies are deleted from the Index if they are not among the top 20 FII holdings. The base date is September 30, 2003 (=100).

The Index has been developed by and is owned by Instanex Capital Consultants Pvt. Ltd., Mumbai, India.