MCX-SX, the Third National Stock Exchange Made its Debut in India.
MCX-SX Index is called SX40. SX40 is formulated for measuring the economic performance through polished presentation of different industries as well as sectors based on ICB, which is a leading international classification from FTSE-100 of Britain.
MCX-SX started its trading in shared of 1116 listed companies against 1665 companies in National Stock Exchange and 5191 companies in Bombay Stock Exchange.
What is SX40?
•SX40 is the free-float based index, which means that the shares are available at any time for trading. It is an index of 40 large-cap as well as liquid stocks.
•SX40 includes those companies which have minimum free float of 10 per cent. These companies are included within top 100 liquid companies.
•In terms of international indexes, Britain’s FTSE includes 25 percent free float criteria and US S&P 500 includes 50 percent free float criteria.