SXBANK is designed to measure the performance of stocks of banking sector – the sector that funds various economic activities of the nation. The Index will have 10 stocks from the banking sector. Weights of individual stocks in the index have been capped at 15% to reduce concentration and thereby provide a cost-effective support for investment/portfolio management and structured products such as index futures and options, index portfolio, exchange traded funds, Index funds, etc.
To provide a benchmark to capture the performance of banking sector of Indian economy and to provide for efficient investment and risk management instrument. It would also help in structuring passive investment vehicles.
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