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Asia Index Launches S&P BSE MidCap Select, S&P BSE SmallCap Select Indices

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Asia Index Private Limited, a joint venture between S&P Dow Jones Indices and BSE, has announced the launch of the S&P BSE MidCap Select and SmallCap Select indices. The indices have been designed to measure the performance of the top 30 Indian mid-cap companies and the top 60 Indian small-cap companies that meet investability requirements, respectively.

The constituents are selected from the S&P BSE MidCap Index and S&P BSE SmallCap Index respectively, both of which are sub-indices of the S&P BSE AllCap Index. Eligibility includes common stocks with a listing history of at least six-months. The maximum number of stocks, as per the BSE sector classification, is limited to ten stocks. All constituents in the indices are weighted based on its float adjusted market capitalisation.

These indices are reconstituted semi-annually, in March and September. The index values for both Indices are calculated on an end of day basis and are available in Indian Rupees and United States Dollar. The first value date of each Index goes back to 16th September 2005.

“The launch of these Indices comes as a result of investor demand for investable, rules based and transparent MidCap and SmallCap indices for India’s capital market. These Indices include a cross section of the top mid cap and small cap companies in the market that meet both liquidity and market capitalization criteria. They can serve as the basis for the creation of low cost products such as ETFs (exchange traded funds) and index funds tracking the index.” says Alka Banerjee, CEO of Asia Index Private Limited.

“We are excited to launch the S&P BSE MidCap Select and S&P BSE SmallCap Select Indices at a time when mid-cap and small-cap segments of the market are witnessing a huge interest from the investors locally as well as globally,” says Ashishkumar Chauhan, MD & CEO, BSE.