BSE Index Services launches BSE Total Market Index
MUMBAI, July 23: BSE Index Services Pvt. Ltd., a wholly owned subsidiary of BSE, today announced the launch of a new Index – BSE Total Market Index. The Index measures the performance of companies which represent 98% coverage of the BSE AllCap Index based on Total Market Capitalization, subject to a minimum count of 1000 stocks.
BSE Total Market Index has a base value of 1000, first value date is 16th Sep 2005, and it is reconstituted Semi Annually in June and December.
Mr. Ashutosh Singh, MD & CEO of BSE Index Services Pvt. Ltd., highlighted the significance of this index, stating, “A true total market benchmark should never be static. The BSE Total Market Cap Index is a future ready benchmark that is not capped by a fixed number of constituents, it expands with India’s capital markets, maintaining coverage of at least 98% of BSE All Cap universe or a minimum of 1,000 stocks. The BSE TMI index is designed to grow as India’s capital market grows, ensuring broad and relevant representation of the listed market capitalization universe, therefore reflecting not just where the market is today, but how it continues to evolve.”
This new index can be used for running passive strategies such as ETFs and Index Funds. It can also be used for benchmarking of PMS strategies, MF schemes and fund portfolio. Investors can now access a broader spectrum of market opportunities, further enriching their investment strategies with this latest addition to BSE’s suite of indices.
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing.)
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