Financial Daily from THE HINDU group of publications
Friday, Aug 20, 2004
Financial Daily from THE HINDU group of publications Friday, Aug 20, 2004 |
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Markets
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Stock Exchanges BSE launches new sectoral indices Our Bureau
Mumbai , Aug. 19 WITH the view to provide the Indian capital market with sector benchmarks, Bombay Stock Exchange on Thursday announced the launch of new sector indices based on free-float methodology. The new sector indices launched included — BSE Auto, BSE Oil & Gas and BSE Metal. Base date for the three new indices would be February 1, 1999 and base index value would be 1,000 points, BSE statement said. The launch of new indices under the heading "Sector Series (90/FF)" will be effective from August 23, 2004. The "Sector Series (90/FF)" indices are a set of indices across 9 significant sectors listed on the BSE. They are constructed and maintained as per the global best practices, BSE said. Three new sectors will be covered under the new series and the existing sector indices (except BANKEX) will be shifted to the free-float methodology and would become part of the "Sector Series (90/FF)" indices. BANKEX is already computed on Free Float methodology. "90/FF" implies that the index covers 90 per cent of the sector it represents and is based on the free-float methodology.
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