What is the SX40 index?

By Research Desk
about 6 years ago

SX40 is the latest stock index to be launched by Multi Commodity Exchange of India (MCX). A 40 stock index, it is a free-float based index of large-cap and liquid stocks. SX40 includes companies that have a minimum free float of 10% and a positive net-worth, being among the top 100 liquid companies.

 

The base value for the index is 10,000 with base date of 31st March 2010. For reference, BSE Sensex has base value and base date of 100 and 1st April 1979 respectively while S&P CNX Nifty has base value and base date of 1,000 and 3rd November 1995 respectively.

 

Below is the comparison of the constituents of SX40 and its comparison with incumbents Sensex and Nifty:

 

S. No.

Company Name

S&P CNX NIFTY

MCX-SX40

BSE SENSEX

1

ACC

Y

Y

N

2

Ambuja Cement

Y

Y

N

3

Asian Paint

Y

Y

N

4

Axis Bank

Y

N

N

5

Bajaj Auto

Y

Y

Y

6

Bank of Baroda

Y

N

N

7

Bharti Airtel

Y

Y

Y

8

BHEL

Y

Y

Y

9

BPCL

Y

Y

N

10

Cairn

Y

Y

N

11

Cipla

Y

Y

Y

12

Coal India

Y

Y

Y

13

DLF

Y

N

N

14

Dr Reddy

Y

Y

Y

15

GAIL

Y

Y

Y

16

Grasim

Y

N

N

17

HCL Tech

Y

Y

N

18

HDFC

Y

Y

Y

19

HDFC Bank

Y

Y

Y

20

Hero Motocorp

Y

Y

Y

21

Hindalco

Y

Y

Y

22

HUL

Y

Y

Y

23

ICICI Bank

Y

Y

Y

24

IDFC

Y

N

N

25

Infosys

Y

Y

Y

26

ITC

Y

Y

Y

27

Jindal Steel

Y

Y

Y

28

Jaiprakash Associates

Y

Y

N

29

Kotak Bank

Y

N

N

30

L&T

Y

Y

Y

31

Lupin

Y

Y

N

32

M&M

Y

Y

Y

33

Maruti

Y

Y

Y

34

NTPC

Y

Y

Y

35

ONGC

Y

Y

Y

36

PNB

Y

N

N

37

Power Grid

Y

Y

N

38

Ranbaxy

Y

N

N

39

RIL

Y

Y

Y

40

Reliance Infra

Y

N

N

41

SBI

Y

N

Y

42

Sesa Goa

Y

N

N

43

Siemens

Y

N

N

44

Sun Pharma

Y

Y

Y

45

Sterlite Industries

N

N

Y

46

Tata Motors

Y

Y

Y

47

Tata Power

Y

Y

Y

48

Tata Steel

Y

Y

Y

49

TCS

Y

Y

Y

50

Ultratech

Y

N

N

51

Wipro

Y

Y

Y

52

Titan

N

Y

N

53

United Spirits

N

Y

N

54

Zee Entertainment

N

Y

N

While S&P CNX Nifty comprises of 50 stocks and BSE Sensex 30 stocks, SX40 comprises of 40 stocks. Most of the stocks are those already a part of Nifty / Sensex, exception being the consumption themes of Titan Industries, United Spirits and Zee Entertainment. Excluding India’s largest lender SBI raises the eyebrow. 

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