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Equity trading on MCX-SX begins

Equity trading on MCX-SX begins
India's third largest bourse after BSE and NSE was inaugurated on February 9 by P. Chidambaram, Honorable Union finance Minister.

It will have a 40- stock index. SX40 will be a free-float based index of 40 large-cap and liquid stocks, representing diverse sectors of the economy. The base value of SX-40 will be 10,000 and with its base date being March 31, 2010.

The index is designed to measure the economic performance with better representation of various

industries and sectors based on ICB, a leading global classification from FTSE.

The stocks in SX40 have an industry cap at 20% +/- 2% band. The index allows fast entry for companies with better free float, market cap and liquidity, the MCX-SX said.

MCX-SX vice-chairman Jignesh Shah said that "we realise that creating financial markets that are complete, globally competitive and technologically sound will be important to revive faith of global and domestic investors in India. It is our mission to achieve all this and more."

Under the Capital Market Segment of MCX-SX, initially equity shares of 1116 companies shall be admitted for trading under "Permitted to Trade" Category with effect from February 11, 2013.

Read more about: mcx
Story first published: Monday, February 11, 2013, 9:35 [IST]
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