Over the past 143 years, the BSE, which was the first stock exchange in Asia when it was founded in 1875 and the first in the nation to receive permanent recognition under the Securities Contract Regulation Act of 1956, has experienced an intriguing ascent to prominence. The history of the Indian securities market is equally fascinating and eventful as the journey made by BSE.
On October 17, 2024, Asia Index Private Ltd., a fully owned subsidiary of BSE, announced the introduction of the BSE Premium Consumption Index with the objective of capitalizing on the growing premium consumption market in India. The venerable SENSEX index, a key gauge of the performance of the Indian equities market, is based on this stock exchange, which is the oldest in Asia.
This new thematic index follows the performance of premium-spending-related companies that were chosen based on their market capitalization in free-float from the BSE 500 Index. The launch comes at a time when the Indian consumer landscape is undergoing a major shift due to growing disposable incomes and a booming demand for high-end lifestyle and wellness goods.
Ashutosh Singh, MD and CEO of Asia Index Pvt. Ltd. stated: “We believe the BSE Premium Consumption Index is launching at the ideal moment, as India’s changing consumer landscape reflects a shift towards premiumization, driven by growing disposable incomes, improving demand for high-quality lifestyle and wellness products, and the resilience of our successful economy.” An exceptional chance to participate in India’s future consumer market is presented to investors by this index.”
The BSE Premium Consumption Index’s base value is 1000, and it was first valued on June 23, 2014. It will be rebalanced every three months and reconfigured semi-annually to ensure that it remains indicative of market trends.
The Asia Index states that mutual funds can use the index as a benchmark for both passive investment strategies like exchange-traded funds (ETFs) and index funds, as well as active mutual fund schemes and Portfolio Management Services (PMS) strategies.
This new index allows investors to diversify their portfolios and take advantage of more market opportunities, which helps them improve their investing strategies.
A major addition to the company’s index portfolio, the BSE Premium Consumption Index addresses the growing demand for high-end consumer goods in India.
BSE Ltd., the stock price is right now trading at Rs. 4,417.60 per share and it is 4% up in the Intraday segment and stock high traded at Rs.4,443.00 per share.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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