BSE Launches Sensex Next 30: A New Horizon for Investors

Asia Index, a BSE subsidiary, has introduced Sensex Next 30, a new index tracking the performance of 30 large companies across nine sectors from the BSE 100. This index offers investment diversification and will be reconstituted semi-annually. Weights are based on free-float market capitalization.

Asia Index, a subsidiary of the BSE stock exchange, has announced the launch of a new index called Sensex Next 30. This development took place on Monday and aims to track the performance of the largest companies in the BSE 100 that are not already part of Sensex, India's oldest index.

Sensex Next 30 includes 30 companies drawn from nine sectors: Financial Services, Consumer Discretionary, Energy, Commodities, Healthcare, Industries, FMCG, Information Technology, and Utilities. According to a statement from Asia Index, all constituents must have an underlying derivative contract.

The index weights the 30 stocks based on their free-float market capitalization, with the first value date set as June 20, 2014, and a base value of 10,000. There is also a USD variant named BSE SENSEX Next 30 USD. The index will be reconstituted semi-annually and rebalanced quarterly, offering a unique investment proposition for managers and investors seeking to diversify beyond Sensex.

(With inputs from agencies.)