NSE launches 'LIX 15' index

Leading bourse National Stock Exchange (NSE) today launched 'LIX 15' index, which will be available in the derivatives segment, in a bid to provide exposure to the liquid stocks.

The index would be disseminated online, from Monday, July 8, 2013, NSE said in a statement.

The index includes 15 stocks, which are available in the Future & Option (F&O) segment. The weight of single stock in the index is capped at 15%.

Currently, these stocks represent nine industries, 22% of turnover in cash segment and 34% of single stock derivatives turnover in F&O segment on NSE in previous six-month.

LIX 15 index is designed to provide exposure to the liquid stocks while making the index easily tradable.

The index includes limited number of stocks and selection criterion is based on the minimum turnover ratio and free float market capitalisation.