{"id":9975,"date":"2024-11-27T10:50:22","date_gmt":"2024-11-27T10:50:22","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=9975"},"modified":"2024-11-27T10:50:23","modified_gmt":"2024-11-27T10:50:23","slug":"bse-bankex-index","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/bse-bankex-index\/","title":{"rendered":"BSE BANKEX Index: A Comprehensive Overview"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#BSE_BANKEX_Index_%E2%80%93_Overview_Constituents\" >BSE BANKEX Index &#8211; Overview &amp; Constituents&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#Selection_Criteria\" >Selection Criteria<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#Factors_Affecting_BSE_BANKEX_Index\" >Factors Affecting BSE BANKEX Index<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#BSE_BANKEX_Index_Calculation_Method\" >BSE BANKEX Index Calculation Method<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#Performance_and_Returns\" >Performance and Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#Risk_and_Volatility\" >Risk and Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#How_to_Invest_in_the_BSE_BANKEX_Index\" >How to Invest in the BSE BANKEX Index?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/#FAQs_BSE_BANKEX_Index\" >FAQs |BSE BANKEX Index<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/investing\/\">Investing<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/investing\/indices\/\">Indices<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>BSE BANKEX Index: A Comprehensive Overview<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In today\u2019s economic structure, banks are indispensable and thus investing in banks is often looked at as a great investment opportunity. However, it is not possible for every person who is interested in investing in banks to track the performance of the banks, is it? There are multiple banks listed on the Stock exchanges in India. Thus, BSE came up with the <strong>BANKEX index <\/strong>in 2003 to help investors track the performance of banks easily. This article will revolve around the <strong>bse bank index<\/strong>, its constituents, selection criteria, factors affecting the index, calculation, investment process, and more.&nbsp;<\/p>\n\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"0-bse-bankex-index-overview-amp-constituents-\"><span class=\"ez-toc-section\" id=\"BSE_BANKEX_Index_%E2%80%93_Overview_Constituents\"><\/span>BSE BANKEX Index &#8211; Overview &amp; Constituents&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The BANKEX Index is an S&amp;P BSE index that is constituted of the top ten stocks of the banking sector. The stocks also form a part of the BSE 500 index. These stocks together account for over 90% of the banking sector\u2019s market capitalization and thus help in tracking the entire sector.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apart from tracking the banking sector, this index is used as a benchmark by multiple mutual funds tracking the banking sector, PMS strategies, and other investment schemes and portfolios which include banking stocks follow this index as a benchmark often.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The constituents of the index include &#8211;&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>HDFC BANK&nbsp;<\/li>\n\n\n\n<li>ICICI BANK&nbsp;<\/li>\n\n\n\n<li>AXIS BANK&nbsp;<\/li>\n\n\n\n<li>STATE BANK OF INDIA<\/li>\n\n\n\n<li>KOTAK MAHINDRA BANK&nbsp;<\/li>\n\n\n\n<li>INDUSIND BANK&nbsp;<\/li>\n\n\n\n<li>FEDERAL BANK&nbsp;<\/li>\n\n\n\n<li>BANK OF BARODA&nbsp;<\/li>\n\n\n\n<li>YES BANK&nbsp;<\/li>\n\n\n\n<li>CANARA BANK<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1-selection-criteria\"><span class=\"ez-toc-section\" id=\"Selection_Criteria\"><\/span>Selection Criteria<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The stocks in the <strong>BSE BANKEX index <\/strong>are selected based on &#8211;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Past listing requirements: <\/strong>The stock must have been listed at least three months back. Only in the case of fresh banking stocks whose market capitalization is amongst the top ten stocks in the entire BSE universe.&nbsp;<\/li>\n\n\n\n<li><strong>Trading records:<\/strong> During the past three months the stocks must have been traded every day when the market was open.&nbsp;<\/li>\n\n\n\n<li><strong>Market capitalization: <\/strong>The market capitalization must be within the top 10 banking stocks listed on BSE.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This index is rebalanced semiannually in June and December.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-factors-affecting-bse-bankex-index\"><span class=\"ez-toc-section\" id=\"Factors_Affecting_BSE_BANKEX_Index\"><\/span>Factors Affecting BSE BANKEX Index<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The BSE BANKEX index is constituted of the bank stocks mostly affected by the following factors &#8211;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Monetary Policies:b <\/strong>If the monetary policies are changed by the RBI then the bank stocks get affected either way. If the constituent stock prices get affected, that affects the index as a whole.&nbsp;<\/li>\n\n\n\n<li><strong>Interest rates: <\/strong>Changes in the interest rates affect the demand for loans and deposits in any banking organization which affects the index.&nbsp;<\/li>\n\n\n\n<li><strong>Inflation rate: <\/strong>The interest rate is directly proportional to the inflation rate in an economy. If the inflation increases sharply, RBI tends to increase the interest rate and vice versa. This again can change the dynamics of the <strong>BSE banking index<\/strong>.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">While the above factors affect the BANKEX index the most, there are other factors as well which can affect it to some extent like &#8211;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Liquidity in the market&nbsp;<\/li>\n\n\n\n<li>Overall market sentiment<\/li>\n\n\n\n<li>Earnings reports&nbsp;<\/li>\n\n\n\n<li>Exchange rates<\/li>\n\n\n\n<li>Dividends&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3-bse-bankex-index-calculation-method\"><span class=\"ez-toc-section\" id=\"BSE_BANKEX_Index_Calculation_Method\"><\/span>BSE BANKEX Index Calculation Method<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The BANKEX index is calculated using the Modified Market Cap Weighted Method. This method adds the top ten stocks from the BSE 500 companies to the index.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the calculation of the index &#8211;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The free-float market cap is first taken, and then the weightage of the stocks is determined.&nbsp;&nbsp;<\/li>\n\n\n\n<li>Then according to the modified weightage, the modified market cap is calculated<\/li>\n\n\n\n<li>The modified weights of each stock can be up to 22%<\/li>\n\n\n\n<li>Then all the bank\u2019s market cap is added&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Then using this formula below the index value is calculated &#8211;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>???????????????????????????????????????????????????????????????? = \u2211???????? \u2217 ????\u210e???????????????????? \u2217 ???????????????? \u2217????????????????????????<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here,&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pi = Price of constituting stocks<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sharesi = Number of stocks<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">IWFi = Stock\u2019s float factor<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FxRate = Foreign Exchange rate<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"4-performance-and-returns\"><span class=\"ez-toc-section\" id=\"Performance_and_Returns\"><\/span>Performance and Returns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The performance of the BANKEX index has been consistent in the past years however, in the recent past due to the volatility in the market, and negative sentiments regarding high interest rates and no rate cuts, the index has given negative returns. The 3-month return has been recorded at negative 0.14%, while in the past month, it had declined 2.29%. But if you look at the YTD, it is 8.86%, the 1-year return stands at 22.19%, and the annualized return like 5-year return and 10-year return stands at 12.21% and 12.32% respectively.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"5-risk-and-volatility\"><span class=\"ez-toc-section\" id=\"Risk_and_Volatility\"><\/span>Risk and Volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While the performance of the <strong>bse bank index<\/strong> has been consistent, the risk factor involved in the index needs to be kept in mind as well. The annualized risk of this index for 3-year has been 15.47% until now, the 5-year risk is around 28.08% and the 10-year is 24.10%.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"6-how-to-invest-in-the-bse-bankex-index\"><span class=\"ez-toc-section\" id=\"How_to_Invest_in_the_BSE_BANKEX_Index\"><\/span>How to Invest in the BSE BANKEX Index?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You can invest in the Bank Nifty index using ETFs, or index funds, or you can trade them on the trading platform. You can also trade Bank Nifty futures, and options in the F&amp;O section of Shoonya\u2019s app. To do so, you have to add the index to your watchlist following these steps \u2013&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Open the Shoonya app.<\/li>\n\n\n\n<li>Head to the \u201cWatchlist\u201d tab located at the bottom of your screen.<\/li>\n\n\n\n<li>In the search bar, type \u201cNIFTY IN\u201d or \u201cSENSEX IN\u201d add it to the watch-list, and then you will be able to see the indices.<\/li>\n\n\n\n<li>Once you find your desired index, click on add option given on the right side<\/li>\n\n\n\n<li>Now you can see the index on the watchlist.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"7-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Investing in the banking sector in an economy that is growing can be one of the best investment decisions. However, it is not possible to track each of the banking stocks every day to see how they are performing, isn\u2019t it? Thus,<strong> <\/strong>the <strong>BSE BANKEX index <\/strong>which is constituted of the top banking sector stocks replicates the banking sector as a whole and you can invest in the index via index funds as well or you can invest in the <strong>bankex stocks<\/strong> of the index directly.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/shoonya.com\/open-an-account\/\"><strong><em><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Trade in Bankex Index \u2013 Open Your Free Demat Account Today!<\/mark><\/em><\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"8-faqs-bse-bankex-index\"><span class=\"ez-toc-section\" id=\"FAQs_BSE_BANKEX_Index\"><\/span>FAQs |BSE BANKEX Index<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1732702896273\"><strong class=\"schema-faq-question\"><strong>What is the Modified Market Cap Weighted Index?<\/strong><\/strong> <p class=\"schema-faq-answer\">This is an index like BSE BANKEX where the modified market capitalization of the stocks is taken into account for the index value calculation.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732702945305\"><strong class=\"schema-faq-question\"><strong>Why foreign exchange rate is required in the calculation?<\/strong><\/strong> <p class=\"schema-faq-answer\">As foreign exchange rates sometimes affect the banking stock prices, the Fx rate is thus used in the calculation.\u00a0<br\/><\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732702945763\"><strong class=\"schema-faq-question\"><strong>When BSE BANKEX index is rebalanced?<\/strong><\/strong> <p class=\"schema-faq-answer\">The index is rebalanced every six months that is in June and December every year.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732702966273\"><strong class=\"schema-faq-question\"><strong>Which are the top stocks contributing to the BANKEX index?<\/strong><\/strong> <p class=\"schema-faq-answer\">Currently, it is HDFC Bank which is contributing the highest to the index, followed by Kotak Bank and ICICI Bank.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732702977402\"><strong class=\"schema-faq-question\"><strong>What is the market cap of the BSE BANKEX index?<\/strong><\/strong> <p class=\"schema-faq-answer\">The current market cap of the index is Rs. 3,985,276.58 crore.<\/p> <\/div> <\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: <a href=\"https:\/\/www.bseindia.com\/sensex\/IndicesWatch_Weight.aspx?iname=BSE100&amp;index_Code=22\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">BSESensex<\/mark><\/a><\/strong><\/p>\n\n\n\n<p 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However, it is not possible for every person who is interested in investing in banks to track the performance of the banks, is it? There are multiple banks listed on the Stock exchanges in &hellip; <a href=\"https:\/\/shoonya.com\/blog\/bse-bankex-index\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BSE BANKEX Index: A Comprehensive Overview&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":9978,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[5711],"tags":[5897,5906,5899,5900,5898,5901,5903,5902,5904,5905],"class_list":["post-9975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indices","tag-bankex","tag-bankex-chart","tag-bankex-expiry","tag-bankex-expiry-day","tag-bankex-index","tag-bankex-stocks","tag-bse-bank-index","tag-bse-bankex","tag-bse-bankex-index","tag-bse-banking-index"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - 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