Leading rating agency Standard & Poor's on Monday launched S&P India Select Index aiming at global investors looking for tradable exposure to the largest and most liquid companies in the country.
The index comprises 60 leading companies that meet the size, liquidity and tradability requirements of the index, S&P said.
"The index was developed in response to growing investor demand for access to the leading companies in India," S&P Head (South and Southeast Asia) R Ravimohan said in the statement.
The top 10 companies of the index are Infosys, Bharti Airtel, Oil and Natural Gas Corporation, Reliance Communications, Housing Development Finance, Reliance Industries, ICICI Bank, Hindustan Lever, Bharat Heavy Electricals and Larson & Toubro, it said.
Major sectors represented in the index include telecommunications, consumer staples, utilities, financials, energy, materials, industrials, information technology and healthcare.
The index has included companies which have a float-adjusted market capitalisation above $500 million and a three-month average daily trading value above $2 million.
Besides, each eligible stock must be trading on the National Stock Exchange of India, the statement said.