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Thursday, June 24, 2010

BSE Banking Index

BSE Bankex

Banking sector reforms such as fall in interest rates, and enactment of Securitization Bill have given a major fillip to Indian banking industry. These developments have significantly impacted the performance of bank stocks and bank stocks have emerged as a major segment in the equity markets. Hence, BSE considered it important to design an index exclusively for bank stocks.

The index, named as Bankex, is based on the free float methodology of index construction. Bankex tracks the performance of the leading banking sector stocks listed on the BSE. Twelve stocks, which represent 90 percent of the total market capitalization of all banking sector stocks listed on BSE, are included in the index. The base date for Bankex is 1st January 2002 and the base value is 1000 points. Bankex is disseminated on a real-time basis through BSE Online Trading (BOLT) terminals.

Scrip Selection Criteria for BSE Bankex

Scrips should at least have a trading frequency of 90% in preceding three months

Scrips classified under the banking sector and which constitute a part of BSE-500 index are eligible for Bankex.

Scrips that are a part of Bankex should have a minimum market capitalization coverage of 90% in banking sector based on free-float final rank.

Stocks Constituting Bankex
  • UTI Bank Ltd
  • Kotak Mahindra Bank
  • UCO Bank
  • Indian Overseas Bank
  • Jammu & Kashmir Bank
  • Vijaya Bank
  • Allahabad Bank Ltd
  • Centurion Bank Ltd
  • Indusind Bank Ltd
  • Karnataka Bank Limited
  • Federal Bank Ltd
  • Karnataka Bank Ltd
  • Yes Bank Ltd
  • IDBI Bank Ltd
  • Indusind Bank Ltd