MCX-SX goes live

MCX-SX, which launched its equity platform on Monday, has chosen to lessen the influence of financial stocks on its benchmark index SX-40 compared to the main gauges of other exchanges. The bourse kept the financial sector's weightage on the index at 22 per cent, the lowest among the three exchanges, by keeping away State Bank of India from its main index. The weightage of the oil and gas and technology sectors on the SX-40 is similar to that on the Sensex. The influence of consumer goods on the new index exceeds the sector’s influence on Sensex and Nifty. SX-40 has returned 16.6 per cent in 2012-13 so far, compared with 15 per cent by the Nifty and 13.5 per cent by the Sensex. SX-40 was able to give higher returns, thanks to the presence of United Spirits and Titan Industries. (Click on graphics)