The Hindu Business Line : S&P India 10 index launched

Mumbai, March 26 Standard & Poor’s today announced the launch of its S&P India 10 — an index designed to provide investors with tradable exposure to the Indian equity markets.

The S&P India 10 index comprises ten of the largest and most liquid Indian companies, which are traded on developed market exchanges. To be eligible for inclusion in the index, stocks must have a float-adjusted market capitalisation above $500 million at each annual rebalancing and a six-month average daily trading value above $1 million.

Market Economies

Among the companies included in the index are Infosys Technologies, ICICI Bank, HDFC Bank, Tata Motors and Reliance Industries. “India is ranked among the fastest-growing emerging market economies in recent years but foreign ownership restrictions on local shares have made it difficult for international investors to gain exposure to India’s burgeoning equity markets. The S&P India 10 index is designed to address this accessibility challenge,” said Mr Steven Goldin, Vice-President, Portfolio Services for Standard & Poor’s.

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