BSE BANKEX   Click for Free-float Concept Download Index Constituents Index Calculation & Maintenance Click to search Historical Notices on Index Replacements Introduction In view of the emergence of banking stocks as a major segment in the equity markets, BSE considered it desirable to design an index exclusively for bank stocks. Features A few important features of the BANKEX are given below: BANKEX tracks the performance of the leading banking sector stocks listed on the BSE BANKEX is based on the free-float methodology of index construction The base date for BANKEX is 1st January 2002. The base value for BANKEX is 1000 points BSE has calculated the historical index values of BANKEX since 1st January 2002. 12 stocks which represent 90 percent of the total market capitalization of all banking sector stocks listed on BSE are included in the Index The Index is disseminated on a real-time basis through BSE Online Trading (BOLT) terminals. Stocks forming part of the BANKEX along with the particulars of their free-float adjusted market capitalization are listed below. Scrip Selection Criteria for BSE Bankex : Eligible Universe Scrips classified under the banking sector that are present constituents of BSE-500 index form the eligible universe. Trading Frequency Scrips should have a minimum trading frequency of 90% in preceding three months. Market capitalization Scrips with a minimum market capitalization coverage of 90% in banking sector based on free-float final rank form the index. Buffers A buffer of 2% both for inclusion and exclusion in the index is considered so that movements in and out of the index are minimized. For example, a company can be included in the index only if it falls within 88% coverage and an existing index constituent cannot be excluded unless it falls above 92% coverage. However, the above buffer criterion is applied only after the minimum 90% market coverage is satisfied.  Top   History of replacements in BANKEX   Date Outgoing Scrips Replaced by 09.02.2004 ING Vysya Bank UTI Bank Ltd.     Kotak Mahindra Bank     UCO Bank     Indian Overseas Bank     Jammu & Kashmir Bank       31.01.2005 ... Vijaya Bank       06.06.2005 Corporation Bank Allahabad Bank Ltd.   Jammu & Kashmir Bank Ltd.     UCO Bank         28.11.2005 ... Centurion Bank Ltd.     Indusind Bank Ltd     Karnataka Bank Limited       03.07.2006 Indusind Bank Ltd Federal Bank Ltd.       08.01.2007 Karnataka Bank ...   Vijaya Bank         09.07.2007 ... Karnataka Bank Ltd.     Yes Bank Ltd.       09.06.2008 Centurion Bank of Punjab Ltd. ...       28.07.2008 Andhra Bank IDBI Bank Ltd.     Indusind Bank Ltd.     Top