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BSE BANKEX-Banking Index

BSE BANKEX- Commentary.... Click here


Introduction

In view of the emergence of banking stocks as a major segment in the equity markets, BSE considered it desirable to design an index exclusively for bank stocks.

Features

A few important features of the BANKEX are given below:

*BANKEX tracks the performance of the leading banking sector stocks listed on the BSE

*BANKEX is based on the free-float methodology of index construction

*The base date for BANKEX is 1st January 2002.

*The base value for BANKEX is 1000 points

*BSE has calculated the historical index values of BANKEX since 1st January 2002.

*12 stocks which represent 90 percent of the total market capitalization of all banking sector stocks listed on BSE are included in the Index

*The Index is disseminated on a real-time basis through BSE Online Trading (BOLT) terminals.

Scrip Selection Criteria for BSE Bankex :



Eligible Universe

Scrips classified under the banking sector that are present constituents of BSE-500 index form the eligible universe.

Trading Frequency

Scrips should have a minimum trading frequency of 90% in preceding three months.

Market capitalization

Scrips with a minimum market capitalization coverage of 90% in banking sector based on free-float final rank form the index.

Buffers

A buffer of 2% both for inclusion and exclusion in the index is considered so that movements in and out of the index are minimized. For example, a company can be included in the index only if it falls within 88% coverage and an existing index constituent cannot be excluded unless it falls above 92% coverage. However, the above buffer criterion is applied only after the minimum 90% market coverage is satisfied.

(SOURCE:BSE)

Click here for Stocks forming part of the BANKEX




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