The launch of the Dow Jones India Titans 30 was announced today by Rupert Murdoch, chairman and chief executive of News Corporation in Mumbai, India. Dow Jones Indexes is a business unit of Dow Jones & Company, a News Corporation company.
The Dow Jones India Titans 30 Index measures the performance of the 30 largest and most liquid stocks listed on the Bombay Stock Exchange and the National Stock Exchange of India. The final composition of the index is based on ranking by free-float market capitalization and 12-month average daily trading volume.
The top five companies in the index by free float market capitalization are:
- Reliance Industries Ltd. (Basic Materials),
- Infosys Technologies Ltd. (Technology),
- HDFC Ltd. (Financials),
- Bharti Airtel Ltd. (Telecommunications), and
- Larsen & Toubro Ltd. (Industrials).
The three biggest sectors represented in the index are Financials, Basic Materials, and Oil & Gas.
The Dow Jones India Titans 30 Index is free-float market capitalization weighted with individual components capped at 10%. According to a press release, the index is calculated in U.S. dollar and Indian rupee and reviewed annually in March. As of July 31, 2008, the Dow Jones India Titans 30 (U.S. $) has gained 62.03% back tested from its base date, December 31, 2005.
The full list of companies, including weighting and values of the Dow Jones India Titans 30 Index, is available on www.djindexes.com .