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