Rupert Murdoch launches Dow Index for India

Mumbai, Aug 4 (UNI) The Dow Jones India Titan 30 Index was launched by the News Corporation Chairman and Cheif Executive Rupert Murdoch here today.

This exclusive blue-chip index of Dow Jones&Company, a News Corp company, will track the stock market performance of prominent Indian companmies and will be licensed to financial institutions as the basis of investment products such as exchange-traded funds, Mr Murdoch said.

He said ''We wil see huge capital flows both from and to India in coming years and that is an opportunity for us as a financial iformantion company, as well as for international investors who want to take advantage of this profound trend.'' The Dow Jones India Index measures the performance of the 30 largest and most liquid stocks listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). The final composition of the index is based on ranking of free-float market capitalisation and 12 month average daily trading volume, according to official sources.

The top five companies in the index include Reliance Industries Ltd, Infosys Technologies Ltd, HDFC Ltd, Bharti Airtel and Larsen&Toubro Ltd. The three biggest sectors represented in the index are Financials Basic Materials and Oil &Gas, sources added.

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