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NSE Launches A New Index

EXCITING NEWS FOR TRADERS - NSE LAUNCHES NEW INDEX CALLED - LIX-15, TO BE TRADED IN FUTURES & OPTIONS FROM MONDAY.

NSE’s new index

It's 15 most liquid stocks SBI , Ttmt, axis, UNSP , Maruti , tisco, cairn , idfc, hindalco , yes bank, bob, rcom , jindal steel , JPA , jsw steel.
Leading bourse National Stock Exchange (NSE) today launched 'LIX 15' index, which will be available in the derivatives segment, in a bid to provide exposure to the liquid stocks.

The index would be disseminated online, from Monday, July 8, 2013, NSE said in a statement.

The index includes 15 stocks, which are available in the Future & Option (F&O) segment. The weight of single stock in the index is capped at 15 per cent.

Currently, these stocks represent nine industries, 22 per cent of turnover in cash segment and 34 per cent of single stock derivatives turnover in F&O segment on NSE in previous six-month.

LIX 15 index is designed to provide exposure to the liquid stocks while making the index easily tradable.

The index includes limited number of stocks and selection criterion is based on the minimum turnover ratio and free float market capitalisation

These have a minimum free float market capitalisation of Rs 5,000 crore with a turnover ratio (TRO) greater than 100 per cent in majority of the last six months and are individually eligible for the F&O segment.

Turnover ratio is the ratio of scrip’s monthly turnover to average free float for the month annualised.

The maximum weight of a single stock has been capped at 15 per cent. The index would be calculated daily. The index will have stocks from nine industries and has 96 per cent correlation with the Nifty since inception.

LIX-15 will have a base value of 1,500 and a base date of January 1, 2009. The index would be reviewed once in six months. Stocks with free float market capitalisation of less than Rs 4,000 crore or TRO of less than 100 per cent in 3 out of 6 months would be excluded.

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