BSE, S&P Dow Jones Indices launch S&P BSE 500 Islamic / Shariah index

May 3, 2013

An Islamic equity index was launched by BSE and S&P Dow Jones Indices – S&P BSE 500 Shariah index. It comprises all Shariah compliant stocks of the broad based S&P BSE 500 index. The S&P BSE 500 consists of 500 most liquid Indian stocks traded at BSE
Objective:

The index will imbibe structures regarding finance and commercial activities permitted for Muslims as per Shariah, an Islamic canonical law.
To provide relevant and transparent index solutions needed to gauge the performance of various market sectors while facilitating access to the world’s financial markets.
It meets the need for a benchmark in India to measure the performance of Shariah compliant stocks trading at the BSE.

BSE and S&P Dow Jones Indices announced a strategic partnership to calculate, disseminate, and license the widely followed suite of BSE indices on February 19, 2013. This shall be the first joint product launched between BSE and S&P Dow Jones Indices.

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