The CPSE index comprises stocks of 43 BSE-listed central public sector enterprises (CPSEs). These firms are those where the government owns a stake of 51 per cent or more.
Public sector banks have not been included in this index.
"The index is designed to serve as a comprehensive benchmark to help the investors to track the performance of public sector companies listed at BSE," a statement said.
"The index includes a provision for the replacement of the index futures contract as it approaches maturity (also referred to as rolling or the roll)," the statement said.
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"This replacement occurs over a one-day rolling period every month, which is one business day prior to the expiration of the futures contract," it added.
While S&P BSE CPSE index would be calculated on real time basis, S&P BSE Sensex Futures index is to be calculated on end of day basis.
Asia Index CEO Alka Banerjee noted that the indices are a "reflection of Indian investor appetite for transparent and innovative benchmarks measuring the Indian market".
Oil & Natural Gas Corp, NTPC Ltd, Coal India, Power Grid Corp of India, Gail India, Bharat Heavy Electricals, Bharat Petroleum Corp, Indian Oil Corp and NMDC are some of companies which are part of the CPSE Index.
Every company within the CPSE index, would be weighted according to the 'float adjusted market capitalisation'.