BSE launches mid-cap, small-cap indices

In a bid to track the performance of mid and small capital companies, the Bombay Stock Exchange (BSE) today introduced two new indices - the BSE Mid-Cap Index and the BSE Small-Cap Index.

The indices would be calculated and disseminated on a real time basis on BSE's BOLT terminal with effect from today, the exchange said in a release.

The base year of the indices would be 2002-2003, and the base index value would be 1,000 for each of the indices based on a free-float methodology, the release added.

The BSE Mid-Cap index would include 231 companies representing 15%
of BSE's eligible universe with the highest average market capitalisation of Rs 2,476 crore and lowest at Rs 18 crore, it said.

The total market capitalisation (average) of the Mid-Cap Index is Rs 2,28,315 crore, the release added.

The BSE Small-Cap index would cover 425 companies with the highest average market capitalisation of Rs 417 crore and the lowest at Rs 5 crore. The total market capitalisation (average) of the index is Rs 76,750 crore, the release said.

"The stock exchange would be reviewing the constituents of the indices on a quarterly basis," the release added.