Sep 1, 2008

S&P launches India equity index for FIIs

S&P launches India equity index for FIIs


Ratings
firm Standard & Poor's (S&) today launched the S&P India
Select Index aimed at providing foreign funds tradable exposure to
Indian equity markets. Stocks that have reached the maximum investment
limit for foreign institutional investors (FII) have been excluded from
the index to reflect lack of access to those scrips for such investors,
S&P said.

A minimum market capitalisation of $500 million and
a six-month average daily trading volume of $2 million are the key
criteria for inclusion in the index. The index would be revised every
April and October.

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