SENSEX Index
The BSE SENSEX Index is a capital market index compiled by the Bombay Stock Exchange Limited. It tracks the performance of the 30 largest and most heavily traded stocks in India. It is generally considered the most accurate gauge of the Indian market.
Overview[edit]
The index was first compiled and launched in 1986, using 1978-79 as a base year year with base value of 100. Since September 1, 2003, the SENSEX is the only market index in India constructed with "Free-Float Market Capitalization Methodology" as opposed to "Full Market Capitalization Methodology". The index represents approximately 43% of the total capitalization of the Bombay Stock Exchange[1]
On June 14, 2006, the BSE was issued a no-action letter by the CFTC, allowing for trading in the United States of futures based on the SENSEX Index.[2]
On April 4, 2008 the U.S. Futures Exchange launched futures USFE SENSEX Index. The contract is cash-settled in USD.
In June 2013, the Dubai Gold and Commodities Exchange (DGCX) announced it would launch a futures contract based on the Sensex index, to be formally listed by DGCX on July 5, 2013.[3]
References[edit]
- ↑ http://www.bseindia.com/. Bombay Stock Exchange.
- ↑ CFTC Issues BSE No-Action Letter for SENSEX Futures. CFTC.
- ↑ Dubai exchange to list Sensex Futures for trading on July 5. The Economic Times of India.