Asia Index Private introduces three new indices; details here

Asia Index Private Ltd., a subsidiary of BSE, on Friday announced the launch of three new indices – BSE SENSEX Sixty 65:35, BSE SENSEX Sixty and BSE Power and Energy Index.

“These indices are part of the broader BSE group philosophy of listening to the Voice of the Customer and creating products that appeal to both investors and asset managers. These launches are a small step in expanding our offering and we hope to continue to deliver more impactful products by working closely with capital market participants,” said Ashutosh Singh, MD and CEO, Asia Index Pvt Limited.

About new indexes

BSE SENSEX sixty 65:35 – It is a strategic index consisting of BSE SENSEX and BSE SENSEX Next 30 components in the ratio of 65:35 respectively. These 60 components constitute over 55% of the total free float market capitalization of all listed entities in India. The indicator is designed to provide slightly higher exposure to the next 30 components compared to the pure free float market capitalization method.

BSE SENSEX sixty – This index comprises the components of BSE SENSEX and BSE SENSEX Next 30, as per their free float capitalization.

The indices have a base value of 10,000 and the first currency date is June 23, 2014. It is reconstituted semi-annually and rebalanced quarterly. It has a USD variant namely BSE SENSEX Sixty USD and BSE SENSEX Sixty 65:35 USD.

BSE Power and energy – It is a thematic index that measures the performance of companies present in the BSE 500 list from the Energy and Utilities sectors. The index will reflect the weighted performance of components belonging to the above sectors.

The index has a base value of 1,000 and the first currency date is December 31, 2013. The index is reconstituted semi-annually and rebalanced quarterly. The weighting of the 30 stocks in the index is based on their free float market capitalization, with the weighting of each stock in the index being limited to 15%. It has USD variant namely BSE Power and Energy USD.

Indices can be used for benchmarking PMS strategies, MF Schemes and fund portfolios. It can also be used to run passive strategies such as ETFs and index funds, as well as to measure the performance of companies in the above-mentioned sectors. Investors now have access to a wider range of market opportunities, further enhancing their investment strategies with the latest additions to the BSE index suite.

Asia Index Private Ltd is a wholly owned subsidiary of BSE Ltd, the oldest stock exchange in Asia, which hosts the iconic SENSEX index, a leading indicator of the performance of the Indian stock market. Asia Index Sp. Ltd aims to provide global/domestic investors with a full range of indices and calculates, publishes and maintains a diverse family of indices.