Mudroch launches Dow Jones index for India

MUMBAI: News Corporation chairman and chief executive Rupert Murdoch, who last year acquired global business news and information services firm Dow Jones in a $5 billion buyout, launched the Dow Jones index for India here on Monday.

"We are unveiling the Dow Jones India Titan 30-stock index that will track the market performance of prominent Indian companies," Murdoch said.

The Dow Jones index will measure the performance of the 30 largest and most liquid stocks listed on the Bombay Stock Exchange and the National Stock Exchange. The final composition of the index is based on the ranking by free float market capitalization and 12 months average daily trading volume.

The top five companies in the index by free float market capitalization are Reliance Industries, Infosys Technologies, HDFC, Bharti Airtel and Larsen and Toubro.

The three biggest sectors represented in the index are financials, basic materials and oil and gas.

"We will track capital inflows both from and to India in the coming years and this is an opportunity for us as a financial information company," Murdoch said.