Financial Daily from THE HINDU group of publications
Tuesday, Mar 30, 2004
Financial Daily from THE HINDU group of publications Tuesday, Mar 30, 2004 |
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Markets
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Stock Exchanges BSE to shift indices to free-float methodology Our Bureau
Mumbai , March 29 THE Bombay Stock Exchange (BSE) will shift the BSE-100 Index to the `free-float methodology' with effect from April 5, according to a press release. This is in continuation of the BSE's policy to gradually shift all indices to the free-float methodology. "The shifting of BSE-100 to the free-float methodology will greatly enhance the quality of the index and bring it at par with international standards. "The BSE-100 weighted on free-float would authentically reflect the investment opportunity of the constituent stocks thereby making the index a more reliable benchmark for the broad market performance," stated the release. The BSE-100 index (formerly known as BSE National Index) was launched on January 3, 1989 and it was calculated taking prices of constituents from five major stock exchanges — Mumbai, Kolkata, Delhi, Chennai and Ahmedabad. An average of the prices quoted on two or more exchanges were considered for index compilation. Later in 1996, the BSE National Index was re-designated as BSE-100 Index and only prices quoted on BSE were taken into account for compilation of index, said the release.
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