India Index Services launches Private Sector Bank Index

NSE group company, India Index Services & Products (IISL) launched the Nifty Private Sector Bank Index.

• Objective: To track 10 largest private sector banks listed on the NSE.
• Calculation of INDEX: It is calculated using free-float market capitalisation method, and stock weights are limited at 25 per cent. Base date of the Index-April 1, 2005 and Base value – 1,000. The index will be calculated on an end-of-day basis.

The index provides the investors with scope of banking sector indices catering to different investment needs.

Key person: Mr. Mukesh Agarwal, CEO, IISL.