New Delhi, Nov 13 (PTI) BSE Index Services on Friday launched 14 new sectoral indices based on the BSE 500 universe as part of its revised sectoral index framework.
With this, the company, a wholly owned subsidiary of BSE Ltd, now offers a total of 20 sectoral indices, providing wider representation of key sectors of the Indian equity market.
The newly launched indices cover sectors such as chemicals, construction, consumer services, FMCG, financial services, healthcare, IT, power, telecommunications and textiles, among others, BSE Index Services said in a statement.
In addition, six existing indices -- BSE Auto, BSE Capital Goods, BSE Consumer Durables, BSE Metal, BSE Oil & Gas and BSE Realty -- have been renamed with the 'BSE 500' prefix.
"With this launch, BSE Index Services is pleased to offer a whole suite of 20 sectoral indices based on the BSE 500 universe. These sectoral indices enhance our offering and provide broad coverage across key sectors of the Indian economy...We believe these indices will support ETFs, index funds, PMS strategies and other investment products seeking focused exposure to India's growth sectors," Ashutosh Singh, MD and CEO of BSE Index Services, said.
The indices can be used as benchmarks for active investment strategies and as underlying indices for products such as exchange-traded funds (ETFs) and index funds.
