BSE launches realty index
BSE Realty Index has taken 2005 as the base year and 1000 the base index. Historical values for the index is available from June 1, 2006, reports Vyas Mohan.business Updated: Jul 10, 2007 01:57 IST
The Bombay Stock Exchange launched Realty Index to its bouquet of sectoral indices on Monday. The index comprises of 11 stocks and leading the pack is the recently listed DLF Ltd with a weightage of 35.94 per cent in the index. It is followed up closely by Unitech which commands a weightage of 31.57 per cent.
BSE Realty Index has taken 2005 as the base year and 1000 the base index. Historical values for the index is available from June 1, 2006 said the BSE media release. The index stood at 7333.97 at the close of trading on Monday. The index is calculated on free float methodology. The total market capitalisation of the Realty Index calculated on the full float methodology worked out to Rs 40,464.21 on the launch day.
The BSE release said that it is launching Realty Index in recognition of the growing importance of real estate sector in Indian economy.
The market cap of realty stocks is 4.2 per cent of the total market capitalisation as against the global norm of 15 per cent, reflecting the head room available for growth of the sector, said the BSE release.
The other stocks included in the realty index are India Bulls Real Estate, Parsvnath Developers, Ansal Properties & Infrastructure, Mahindra Gesco, Sobha Developers, Anantraj Industries, Phoenix Mills, Peninsula Land and Akruti Nirman.
First Published: Jul 10, 2007 01:54 IST