Thematic Indices
CNX Commodities Index
The CNX Commodities Index is designed to reflect the behaviour and performance of a diversified portfolio of companies representing the commodities segment which includes sectors like Oil, Petroleum Products, Cement, Power, Chemical, Sugar, Metals and Mining. The CNX Commodities Index comprises of 30 companies that are listed on the National Stock Exchange (NSE)..
Methodology
The index is calculated using free float market capitalization methodology with a base date of January 1, 2004 indexed to a base value of 1000. At the time of rebalancing of shares/ change in index constituents/ change in investable weight factors (IWFs), the weightage of the index constituent (where applicable) is capped at 8%. Weightage of such stock may increase up to a maximum of 10% between the rebalancing periods.
Market Representation
- The CNX Commodities Index represents about 16.43% of the free float market capitalization of the stocks listed on NSE and 78.40% of the free float market capitalization of the stocks forming part of the Commodities segment universe as on March 28, 2013.
- The total traded value for the last six
months ending March 2013 of all index
constituents is approximately
13.92% of the traded value of all
stocks on NSE and 75.46% of the
traded value of the stocks forming part of
the Commodities segment universe.
Selection Criteria
The criteria for the CNX Commodities Index include the following:
- Companies must rank within the top 500 companies ranked by average free-float market capitalisation and aggregate turnover for the last six months.
- The company’s trading frequency should be at least 90% in the last six months.
- The company should have reported a positive net worth.
- The company should have an investable weight factor (IWF) of at least 10%.
- The company should have a listing history of 6 months. A company, which comes out with an IPO will be eligible for inclusion in the index, if it fulfils the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
- Final selection of 30 companies shall be done based on the free-float market capitalization of the companies.
- The review will take place on a semi-annual basis.
CNX Consumption Index
The CNX Consumption Index is designed to reflect the behavior and performance of a diversified portfolio of companies representing the domestic consumption sector which includes sectors like Consumer Non-durables, Healthcare, Auto, Telecom Services, Pharmaceuticals, Hotels, Media & Entertainment, etc. The CNX Consumption Index comprises of 30 companies listed on the National Stock Exchange.
Methodology
The index is calculated using free float
market capitalization methodology with a base
date of January 2, 2006 indexed to a base value
of 1000. At the time of rebalancing of shares/
change in index constituents/ change in
investable weight factors (IWFs), the weightage
of the index constituent (where applicable) is
capped at 8%. Weightage of such stock may
increase up to a maximum of 10% between the
rebalancing periods.
Market Representation
- The CNX Consumption Index represents about 20.31% of the free float market capitalization of the stocks listed on NSE and 69.40% of the free float market capitalization of the stocks forming part of the Consumption sector universe as on March 28, 2013
- The total traded value for the last six months ending March 2013 of all index constituents is approximately 17.58% of the traded value of all stocks on NSE and 61.12% of the traded value of the stocks forming part of the Consumption sector universe.
Selection Criteria
The criteria for the CNX Consumption Index include the following:
- Companies must rank within the top 500 companies ranked by average free-float market capitalization and aggregate turnover for the last six months.
- More than 50% of the company’s revenue must come from domestic markets (other than export income).
- The company’s trading frequency should be at least 90% in the last six months.
- The company should have reported a positive net worth.
- The company should have an investable weight factor (IWF) of at least 10%
- The company should have a listing history of 6 months. A company which comes out with an IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
- Final selection of 30 companies shall be done based on the free-float market capitalization of the companies.
- The review will be carried out on a semi-annual basis.
CNX Infrastructure Index
It is well recognized that quality infrastructure is one of the most important necessities for unleashing high and sustained growth.
Government outlay for infrastructure has increased significantly over the years. Clearly, infrastructure has been a focus area. Over the years, not only have the outlays for budgetary expenditure towards the infrastructure sector been increasing, but private investment is also being encouraged. Earlier, the emphasis was on bringing in more and more projects, now the emphasis also includes encouraging financial products suited for infrastructure.
To meet the financial needs of this public-private partnership, it is necessary to promote standards and raise capital in the most efficient and cost-effective manner while ensuring long-term sustainability. Recognizing the needs of the market, IISL has developed CNX Infrastructure Index to capture the performance of the companies in the infrastructure sector.
CNX Infrastructure Index will include companies belonging to Telecom, Power, Port, Air, Roads, Railways, shipping and other Utility Services providers.
Methodology
Effective October, 11, 2010, CNX Infrastructure Index is computed using free float market capitalization weighted method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to a particular base period. The method also takes into account constituent changes in the index and importantly corporate actions such as stock splits, rights, etc without affecting the index value. The CNX Infrastructure Index has a base date of Jan 1, 2004 and a base value of 1000..
Market Representation
- The CNX Infrastructure Index represents about 9.16% of the free float market capitalization of the stocks listed on NSE and 74.97% of the free float market capitalization of the stocks forming part of the infrastructure sector universe as on March 28, 2013.
- The total traded value for the last six months ending March 2013 of all index constituents is approximately 11.51% of the traded value of all stocks on NSE and 57.90% of the traded value of the stocks forming part of the Infrastructure sector universe.
Selection Criteria
Selection of the index set is based on the following criteria:
- Companies must rank within the top 500 companies ranked by average free-float market capitalisation and aggregate turnover for the last six months.
- Companies should form a part of infrastructure sector.
- Companies that are allowed to trade in F&O segment are only eligible to be constituent of the index.
- The company’s trading frequency should be at least 90% in the last six months.
- The company should have reported a positive net worth.
- The company should have an investable weight factor (IWF) of at least 10%.
- A company which comes out with an IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
- Final selection of 25 companies shall be done based on the free-float market capitalization of the companies.
- The review will be carried out on a semi-annual basis.
*CNX Infrastructure Index was computed using market capitalization weighted method from the launch date till October 08, 2010
Download List of CNX Infra stocks (.csv)
CNX MNC Index
The CNX MNC Index comprises 15 listed companies in which the foreign shareholding is over 50% and / or the management control is vested in the foreign company..
Methodology
CNX MNC index is computed using free float
market capitalization weighted method with base
date of Dec 1994 and base value of 1000 wherein
the level of the index reflects the total free
float market value of all the stocks in the
index relative to a particular base period. The
method also takes into account constituent
changes in the index and importantly corporate
actions such as stock splits, rights, etc
without affecting the index value.
Market Representation
- The CNX MNC Index represents about 5.92% of the free float market capitalization of the stocks listed on the NSE as on March 28, 2013.
-
The traded value for the last six months ending March 2013 of all index constituents is approximately 4.51% of the traded value of all stocks on NSE.
Selection Criteria
Selection of the index set is based on the following criteria:
- Company's free float market capitalisation rank in the universe should be less than 500
- Company's trading frequency should be at least 90% in the last six months
- The company should have reported a positive net worth.
- A company which comes out with a IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
*CNX MNC Index was computed using market capitalization weighted method from the launch date till October 08, 2010.
CNX PSE Index
As part of its agenda to reform the Public Sector Enterprises (PSE), the Government has selectively been disinvesting its holdings in public sector enterprises since 1991. With a view to provide regulators, investors and market intermediaries with an appropriate benchmark that captures the performance of this segment of the market, as well as to make available an appropriate basis for pricing forthcoming issues of PSEs, IISL has developed the CNX PSE Index, comprising of 20 PSE stocks.
Methodology
The index is computed using free float market
capitalization method having a base period of
December, 1994 indexed to a base value of 1000
wherein the level of the index reflects total
free float market value of all the stocks in the
index relative to a particular base market
capitalization value. The method also takes into
account constituent changes in the index and
importantly corporate actions such as stock
splits, rights, new issue of shares etc. without
affecting the index value. The CNX PSE Index was
computed using market capitalisation weighted
method from the launch date till October 8,
2010.
Market Representation
- The CNX PSE Index represent about 8.07 % of the free float market capitalization of the stocks listed on NSE as on March 28, 2013.
- The total traded value for the last six months ending March 2013 of all index constituents is approximately 6.71 % of the traded value of all stocks on NSE.
Selection Criteria
Selection of the index set is based on the following criteria:
- Companies must rank within the top 500 companies by average free-float market capitalisation and aggregate turnover for the last six months.
- Companies must have 51% of their outstanding share capital held by the Central Government and/or State Government, directly or indirectly.
- Companies that are allowed to trade in F&O segment are only eligible to be constituent of the index.
- The company's trading frequency should be at least 90% in the last 6 months.
- The company should have reported a positive net worth.
- The company should have a listing history of 6 months. A company which comes out with an IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
- Final selection of 20 companies shall be done based on the free-float market capitalization of the companies.
- The review will take place on a semi-annual basis.
*CNX PSE Index was computed using market capitalization weighted method from the launch date till October 08, 2010.
CNX Service Sector Index
The Indian Economy has seen structural changes in the last couple of years. According to RBI data, the services sector remained the principal driver of the Indian economy, contributing 55 per cent of the growth of real GDP in 2006-07. The key driver for the growth of the service sector has been industries like IT, Banks, Tourism, Telecommunication etc. Going forward, the service sector will grow manifold mainly on account of the India’s low cost advantage, increasing demand for Customer services and the booming knowledge economy. To capture the performance of the companies belonging to this sector, IISL has developed CNX Service Sector Index to capture the performance of the companies in this sector.
The CNX Service Sector Index is 30 stocks index and includes companies belonging to services sector like Computers – Software, IT Education and Training, Banks, Telecommunication –services, Financial Institutions, Power, Media, Courier, Shipping etc.
Methodology
The CNX Service Sector Index is computed
using free float market capitalization weighted
method with a base date of May 1999 and base
value of 1000 wherein the level of the index
reflects the total free float market value of
all the stocks in the index relative to a
particular base period. The method also takes
into account constituent changes in the index
and importantly corporate actions such as stock
splits, rights, etc without affecting the index
value
Market Representation
- The CNX Service Sector Index represents about 36.05% of the free float market capitalization of the stocks listed on NSE and 80.86% of the free float market capitalization of the stocks forming part of the Service sector universe as on March 28, 2013.
- The total traded value for the last six months ending March 2013 of all index constituents is approximately 29% of the traded value of all stocks on NSE and 68.68% of the traded value of the stocks forming part of the Service sector universe.
Selection Criteria
Selection of the index set is based on the following criteria :
- Companies must rank within the top 500 companies by average free-float market capitalization and aggregate turnover for the last six months.
- Companies should form a part of service sector.
- The company's trading frequency should be at least 90% in the last six months.
- The company should have reported a positive net worth.
- The company should have a listing history of 6 months. A company, which comes out with an IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period.
*CNX Service Sector Index was computed using market capitalization weighted method from the launch date till October 08, 2010.
CNX Nifty Shariah / CNX 500 Shariah
CNX Nifty Shariah. Based on the premier market bellwether for India, the CNX Nifty, the current constituents of the index are screened for Shariah compliance. Those that are compliant form the CNX Nifty Shariah. The resulting index performance closely tracks the performance of the parent index. The Nifty includes the largest and most liquid companies listed on the National Stock Exchange.
CNX 500 Shariah. The complete benchmark for the Indian stock market, the CNX 500 covers more than 90% of the total market capitalization and more than 80% of total traded volume on the National Stock Exchange. The current constituents of the index are screened for Shariah compliance. The resulting compliant stocks form the CNX 500 Shariah, which closely tracks the performance of the parent index.
S&P ESG India Index
The S&P ESG India index provides investors with exposure to a liquid and tradable index of 50 of the best performing stocks in the Indian market as measured by environmental, social, and governance parameters.
The S&P ESG India Index is the first of its kind. It is an index based purely on quantitative factors rather than subjective ones. For the first time, environmental, social and corporate governing factors have been extensively quantified and translated into a series of scores measuring securities in the universe of publicly traded Indian companies. This index not only ensures a selection of environmentally, socially and corporate governance responsible companies, but also securities which are representative of the Indian equity markets based on size and liquidity.