Have
you ever wondered what the SENSEX and NIFTY is? How are they calculated?
SENSEX i.e. Sensitive Index is the benchmark index of
Bombay Stock Exchange (BSE) composed of
30 of the largest and most actively-traded stocks of BSE.
Calculation Method
BSE
uses Free-Float methodology (multiplying
the number of shares of top 30 companies with their respective equity’s price
excluding locked in shares i.e. the ones hold by promoters, government and
those having controlling interest in the concern) to calculate the index. For e.g.
A company has 2 promoters X and Y and shares held by them are 1000 and 2000
respectively and to take a loan 1500 shares has been issued to government as a
collateral. So 1000+2000+1500=4500 shares will be taken as locked in securities
and all other shares are used to calculate SENSEX. Now question arises what is
the process. Here it is –
1. Each company’s Market capitalization is determined (No. of shares x price)
2. Free float
factor of company is
determined by BSE. Free float factor (between
0.05-1.00) is a multiple by which company’s Market capitalization is
multiplied to arrive at Free-float
market capitalization. The factor is determined by details submitted by
company. It is a kind of weightage given to companies. Say Capitalization is 36,00,000
3. Now Ratio and Proportion is used. How? Base index of 1978-79 is used. Index of
1978-79 is taken as 100. Say the
Free-float market capitalization was 60,000 (may vary) at the time.
When the capitalization was 60,000 index was 100
When the capitalization is 36,00,000 index is 6000
So it means
SENSEX is 6000
INDEX AS OF 20th SEPTEMBER 2013
|
Company Name
|
Company Name
|
Company Name
|
|
Bajaj Auto Ltd
|
Hindustan Unilever Ltd
|
Oil and Natural Gas Corporation Ltd
|
|
Bharat Heavy Electricals Ltd
|
Housing Development Finance Corporation Ltd
|
Reliance Industries Ltd
|
|
Bharti Airtel Ltd
|
ICICI Bank Ltd
|
Sesa Goa Ltd
|
|
Cipla Ltd
|
Infosys Ltd
|
State Bank of India
|
|
Coal India Ltd
|
ITC Ltd
|
Sun Pharmaceutical Industries Ltd
|
|
Dr.Reddy's Laboratories Ltd
|
Jindal Steel And Power Ltd
|
Tata Consultancy Services Ltd
|
|
GAIL (India) Ltd
|
Larsen & Toubro Ltd
|
Tata Motors Ltd
|
|
HDFC Bank Ltd
|
Mahindra and Mahindra Ltd
|
Tata Power Company Ltd
|
|
Hero MotoCorp Ltd
|
Maruti Suzuki India Ltd
|
Tata Steel Ltd
|
|
Hindalco Industries Ltd
|
NTPC Ltd
|
Wipro Ltd
|
Calculation Method is just like BSE except the Base value is taken of year 1995 and is set to 1000 and base capital of Rs. 2.06 trillion is
taken.
INDEX
AS OF 20th SEPTEMBER 2013
|
Company Name
|
Industry
|
Symbol
|
|
ACC Ltd.
|
CEMENT AND CEMENT
PRODUCTS
|
ACC
|
|
Ambuja Cements Ltd.
|
CEMENT AND CEMENT
PRODUCTS
|
AMBUJACEM
|
|
Asian Paints Ltd.
|
PAINTS
|
ASIANPAINT
|
|
Axis Bank Ltd.
|
BANKS
|
AXISBANK
|
|
Bajaj Auto Ltd.
|
AUTOMOBILES - 2 AND 3
WHEELERS
|
BAJAJ-AUTO
|
|
Bank of Baroda
|
BANKS
|
BANKBARODA
|
|
Bharat Heavy
Electricals Ltd.
|
ELECTRICAL EQUIPMENT
|
BHEL
|
|
Bharat Petroleum
Corporation Ltd.
|
REFINERIES
|
BPCL
|
|
Bharti Airtel Ltd.
|
TELECOMMUNICATION -
SERVICES
|
BHARTIARTL
|
|
Cairn India Ltd.
|
OIL
EXPLORATION/PRODUCTION
|
CAIRN
|
|
Cipla Ltd.
|
PHARMACEUTICALS
|
CIPLA
|
|
Coal India Ltd.
|
MINING
|
COALINDIA
|
|
DLF Ltd.
|
CONSTRUCTION
|
DLF
|
|
Dr. Reddy's
Laboratories Ltd.
|
PHARMACEUTICALS
|
DRREDDY
|
|
GAIL (India) Ltd.
|
GAS
|
GAIL
|
|
Grasim Industries Ltd.
|
CEMENT AND CEMENT
PRODUCTS
|
GRASIM
|
|
HCL Technologies Ltd.
|
COMPUTERS - SOFTWARE
|
HCLTECH
|
|
HDFC Bank Ltd.
|
BANKS
|
HDFCBANK
|
|
Hero MotoCorp Ltd.
|
AUTOMOBILES - 2 AND 3
WHEELERS
|
HEROMOTOCO
|
|
Hindalco Industries
Ltd.
|
ALUMINIUM
|
HINDALCO
|
|
Hindustan Unilever
Ltd.
|
DIVERSIFIED
|
HINDUNILVR
|
|
Housing Development
Finance Corporation Ltd.
|
FINANCE - HOUSING
|
HDFC
|
|
I T C Ltd.
|
CIGARETTES
|
ITC
|
|
ICICI Bank Ltd.
|
BANKS
|
ICICIBANK
|
|
IDFC Ltd.
|
FINANCIAL INSTITUTION
|
IDFC
|
|
IndusInd Bank Ltd.
|
BANKS
|
INDUSINDBK
|
|
Infosys Ltd.
|
COMPUTERS - SOFTWARE
|
INFY
|
|
Jaiprakash Associates
Ltd.
|
CONSTRUCTION
|
JPASSOCIAT
|
|
Jindal Steel &
Power Ltd.
|
STEEL AND STEEL
PRODUCTS
|
JINDALSTEL
|
|
Kotak Mahindra Bank
Ltd.
|
BANKS
|
KOTAKBANK
|
|
Larsen & Toubro
Ltd.
|
ENGINEERING
|
LT
|
|
Lupin Ltd.
|
PHARMACEUTICALS
|
LUPIN
|
|
Mahindra &
Mahindra Ltd.
|
AUTOMOBILES - 4
WHEELERS
|
M&M
|
|
Maruti Suzuki India
Ltd.
|
AUTOMOBILES - 4
WHEELERS
|
MARUTI
|
|
NMDC Ltd.
|
MINING
|
NMDC
|
|
NTPC Ltd.
|
POWER
|
NTPC
|
|
Oil & Natural Gas
Corporation Ltd.
|
OIL
EXPLORATION/PRODUCTION
|
ONGC
|
|
Power Grid Corporation
of India Ltd.
|
POWER
|
POWERGRID
|
|
Punjab National Bank
|
BANKS
|
PNB
|
|
Ranbaxy Laboratories
Ltd.
|
PHARMACEUTICALS
|
RANBAXY
|
|
Reliance Industries
Ltd.
|
REFINERIES
|
RELIANCE
|
|
Reliance Infrastructure
Ltd.
|
POWER
|
RELINFRA
|
|
Sesa Goa Ltd.
|
MINING
|
SESAGOA
|
|
State Bank of India
|
BANKS
|
SBIN
|
|
Sun Pharmaceutical
Industries Ltd.
|
PHARMACEUTICALS
|
SUNPHARMA
|
|
Tata Consultancy
Services Ltd.
|
COMPUTERS - SOFTWARE
|
TCS
|
|
Tata Motors Ltd.
|
AUTOMOBILES - 4 WHEELERS
|
TATAMOTORS
|
|
Tata Power Co. Ltd.
|
POWER
|
TATAPOWER
|
|
Tata Steel Ltd.
|
STEEL AND STEEL
PRODUCTS
|
TATASTEEL
|
|
UltraTech Cement Ltd.
|
CEMENT AND CEMENT
PRODUCTS
|
ULTRACEMCO
|
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