Leading index provider Asia Index, a joint venture between BSE and S&P Dow Jones Indices, today announced the launch of S&P BSE Sensex 50 Index to measure the performance of the 50 largest BSE-listed companies.
"With the launch of the S&P BSE Sensex 50 Index, a transparent and rule-based index, we aim to provide a more effective tool for institutional and retail investors' growing needs," Alka Banerjee, CEO Asia Index said.
"The Index is designed to measure the performance of the 50 largest and liquid companies listed at BSE Ltd," BSE said in a release.
The index covers approximately 54 per cent of total market capitalisation of BSE-listed companies as of October 30, 2016.
Index constituents are selected from S&P BSE Large MidCap Index and are weighted based on their float-adjusted market capitalisation. The Index is calculated in INR and USD for both price returns as well as total returns versions.
"The index is diversified as it represents each key economic sector identified by BSE's sector model. We look forward to have derivative based contracts on this index at BSE's international stocks exchange in the Gujarat International Finance Tec-City (GIFT) in Gandhinagar," Ashishkumar Chauhan, MD and CEO, BSE said.
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