Dow Jones Indexes today launched a blue-chip index for India called Dow Jones India Titan 30.
The 30-stock index measures the performance of the 30 largest and most liquid stocks listed on the Bombay Stock Exchange and the National Stock Exchange of India. The final composition of the index is based on ranking by free-float market capitalisation and 12-month average daily trading volume.
The three biggest sectors represented in the index are financials, basic materials and oil and gas. It will be licensed to financial institutions as the basis of investment products, such as exchange-traded funds. The index measures.
The launch of the index was announced today by Rupert Murdoch, chairman and chief executive of News Corporation.