The MCX
Stock Exchange (MCX-SX) has launched
‘SxBank’, a new index to provide a benchmark to capture the performance of the
banking sector.
The index
consists of ten most liquid & large capitalised stocks from the banking
sector.
It is a
scientific, transparent & completely rule-based index, offering better
reflection of the banking sector in the Indian economy with superior risk
adjusted returns, said MCX-SX in a press release on recently.
SxBank’s
constituents represent over 80% of the total market capitalisation of all
banking stocks. The index is computed with base date of March 31, 2010, and is
indexed to a base value of 5000.
Mr.
Thomas Mathew T, Chairman, MCX-SX, said with the banking sector poised for
further growth, new entrants and technology advancements, banking stocks will
move further into the limelight.
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