Asia Index launches MidCap Select, SmallCap Select indicies

Asia Index, a BSE and S&P Dow Jones Indices joint venture, today launched two indices to measure the performance of the top 30 mid-cap companies and top 60 small-cap firms.
The new indicies-- S&P BSE MidCap Select and SmallCap Select-- have been designed to measure the performance of the top 30 Indian mid-cap companies and the top 60 Indian small-cap companies that meet investability requirements, respectively.
The constituents are selected from the S&P BSE MidCap Index and S&P BSE SmallCap Index, respectively.
The stocks in the index must have a listing history of at least six months. The maximum number of stocks, as per the BSE sector classification, is limited to ten scrips.

"The launch of these Indices comes as a result of investor demand for investable, rules based and transparent MidCap and SmallCap indices for India's capital market," Asia Index Private Limited CEO Alka Banerjee said in a statement.
"These Indices include a cross section of the top mid cap and small cap companies in the market that meet both liquidity and market capitalization criteria. They can serve as the basis for the creation of low cost products such as ETFs (exchange traded funds) and index funds tracking the index," she added.
These indices are reconstituted semi-annually, in March and September. The index values are available in Indian Rupees and USD.

"We are excited to launch the S&P BSE MidCap Select and S&P BSE SmallCap Select Indices at a time when mid-cap and small-cap segments of the market are witnessing a huge interest from the investors locally as well as globally," BSE Managing Director and CEO Ashishkumar Chauhan said.