S&P BSE Metal

The metal industry contributes over 2% to the GDP of India and provides employment to over 25 lakh people. Metal is one of the most important industries for the Indian economy as it forms a base for the country’s infrastructure. From the vehicles we drive to the utensils we cook in, metal is used for a wide variety of purposes. 

S&P BSE metals index has been designed to track the companies that are involved in the mining and extraction of metals. It involves the extraction of heavy metals as well as precious metals. The metals extracted are then sold to other industries to produce other products. The price of these metals has a huge impact on the products we use in our everyday lives, as these metals act as raw materials for many industries. 

The BSE metals index includes the companies that have been classified as metals sector by the BSE according to its classification system. The price movement of the stocks influences the S&P BSE metals share price. The constituents of this index are selected from among the constituents of BSE 500. The index is designed to track the performance of the companies belonging to the metals, metal products, and mining sectors. 

The S&P BSE metals was launched on August 23, 2004, and the year 1999 was taken as the base year for calculating the float-adjusted market cap and the index value. The index price is calculated in real-time and gets affected by the change in the price of its constituent stocks. 

The index consists of 10 stocks as of now and all these stocks together have an average market cap of INR 642,696.8 million. In order to present the correct value, the index is reviewed twice annually, both in June and December. Earlier, the full capitalisation method was used to calculate the index value, where the full market cap of the stocks was considered. In 2003, it was changed to the float-adjusted market capitalisation method, which uses only the shares available for trading while calculating the value of the BSE metals index.