MUMBAI: BSE, the oldest stock exchange in Asia, and S&P Dow Jones Indices, a global leader in index construction and management, has joined hands to calculate, disseminate, and license sensex and other indices managed by the bourse. The association will result in BSE sensex being renamed S&P BSE sensex with immediate effect, Ashihskumar Chauhan , MD & CEO, BSE, said. The association between S&P and BSE came within days of NSE, the largest exchange in India, and the US-based major ended its licensing agreement for using 'S&P' brand for the nifty index.
Vallabh Bhansali, cofounder and chairman of Enam group, said that the partnership brings together BSE, a 137-year-old institution , and S&P Dow Jones Indices , an entity with a legacy spanning 115 years. Sensex, the acronym for Bombay Stock Exchange Sensitivity Index, is the most watched index in the Indian market which was launched in 1986. Initially the 30-stock index was a market-cap weighted benchmark to measure the performance of its components that represented large, well-established , and financially sound companies across key sectors in India, a BSE release said. Currently, it's a market cap-based free float index.
Speaking at the launch of BSE-S &P joint venture, Alexander Matturri, CEO, S&P Dow Jones Indices, said that the partnership "fortifies and expands BSE and S&P Dow Jones Indices' presence in India and in South Asia." The JV would also bring to the table BSE's strong knowledge of the Indian market and investor interests and S&P Dow Jones Indices' uncompromised history of providing leading stock market indices.
BSE adds S&P brand to sensex, inks strategic pact
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BSE adds S&P brand to sensex, inks strategic pact
