NSE to launch two more sectoral indices

#1
NSE to launch two more sectoral indices

The National Stock Exchange proposes to launch two sectoral indices, energy and pharmaceuticals, on July 1, 2005. Each index will have 10 stocks from the respective sectors. Stocks in the index are among the most liquid in terms of trading turnover and trading frequency.

The shares selected in the index are rank highest in terms of market capitalisation. The index will be maintained by IISL.

The energy sector includes companies belonging to petroleum, gas and power sub sectors.

The CNX Energy index will capture the capital market performance of the energy sector. The CNX Energy Index represents about 91 per cent of the market capitalization and 80 per cent aggregate turnover of the energy sector universe.

The constituents of CNX Energy index are: BPCL, Gail, HPCL, IOC, NTPC, Neyveli Lignite, ONGC, Reliance Energy, Reliance Industries and Tata Power.

The CNX Pharma index will capture the capital market performance of the Pharmaceuticals sector.

The CNX Pharma Index represents about 66 per cent of the market capitalization and 54 per cent aggregate turnover of the pharmaceuticals sector universe.

The constituents of the CNX Pharma index are: Biocon, Cadila Healthcare, Cipla, Dr Reddy, Glaxosmithkline Pharmaceuticals, Nicholas Piramal, Ranbaxy Labs, Sun Pharma and Wockhardt.
 

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