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The BSE's benchmark index in India is called the Sensex. It debuted on January 1, 1986, as a basket of 30 equities that represented the biggest, financially solid corporations in the nation that were listed on the BSE.
Stock market analyst Deepak Mohini came up with the term "Sensex," which he coined. It is a combination of the phrases "Sensitive" and "Index." The Indian stock market's movements are reflected in the Sensex. It is regarded as the Indian stock market's benchmark index. BSE, formerly known as the Bombay Stock Exchange, claims that it is the oldest index in India and offers time series data going back to 1979 on its website.
The top 50 most liquid stocks in the S&P BSE LargeMidCap by float-adjusted market capitalization are measured by the S&P BSE SENSEX 50, a transparent, rules-based index.
Sensitive Index, also known as BSE SENSEX 50 share price, is based on both internationally recognised construction and review methodologies in addition to being scientifically created. BSE SENSEX 50, a basket of 30 constituent stocks representing a sample of sizable, liquid, and representative companies, was first compiled in 1986. The S&P BSE SENSEX 50 has a base year of 1978–1979 and a base value of 100. The index is widely covered by print and electronic media in both domestic and foreign markets.
The index was initially produced using the "Full Market Capitalization" technique, but as of September 1, 2003, it is now calculated using the "Free-Float" approach. Globally, the "Free-float Market Capitalization" index creation approach is regarded as the best practice in the sector. The Free-float approach is employed by all significant index providers, including MSCI, FTSE, STOXX, S&P, and Dow Jones.
BSE SENSEX® is often considered the Indian stock market's heart because of its popularity among investors. As the nation's oldest index, it offers time series data spanning a considerable amount of time (from 1979 onwards). It's no surprise that the BSE SENSEX® has grown to be one of the nation's most recognisable trademarks over the years.
Utilising the "Free-float Market Capitalization" formula, the BSE SENSEX 50 share price is determined. According to this technique, the index's level at any one time reflects the free-float market value of its 30 constituent equities in comparison to a base period. A firm's market capitalization is calculated by dividing the share price by the total number of shares the company has issued. The free-float market capitalization is calculated by multiplying this market capitalization by the free-float factor.
Every six months, in alternate years between June and December, the S&P BSE Sensex 50 Index is reviewed. The Sensex is acknowledged as being India's first stock index, historically speaking. The index is frequently used to assess India's present economic performance as well as the activities that take place inside various sectors of that developing market.
The steps are as follows to determine a company's free-float capitalization:
The formula is:
BSE SENSEX 50 = Total Free-Float Market Capitalization x Base Index Value / Base Market Capitalization
Here's an illustration:
WeLoveJeans is listed on the BSE Sensex 50 with a market price of $15 per share, 20 million shares in the float, and 40 million shares outstanding. This would indicate a market value of $600 million and a free float of 50% of the total shares issued. As a result, the company would have a free-float capitalization of $300 million ($600 million * 0.5).
