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  Broadex  

 

written in 2006: No major correction since then, in the contents
  
 
Using just 30 or 50 Scrips as a measuring scale for the movement of the Share Market is just not right 
   
  The Market Crash across the World on 26 and 27th July 2007, notionally wiping out about a Billion Dollars, emphasises the need for Broad basing the share Market indices. 

 
   
 
Retail Investors / small investors can be misled / misdirected / misguided
   
 

The various comments in the TV channels by so called experts, Mutual Funds and FII Investors as well as the print media is based on Sensex and Nifty. In my view, it does lead to distorted and convenient interpretations. You also wonder whether the views are in public interest or just in the personal interest of select few

     
 

Account the following in a new scale, say Broadex
   
  1.  The new indices be broad based to have about 100 or 200 Scrips

2.  It can also help reduce the daily Volatality

3.  The sectoral weightage be in accordance with their Sales / production position in the Manufacturing Sector or GDP.

4.  Market Capitalisation is a notional figure that has validity only during the Non Trading hours !  Sales figures and not mere Market Capitalisation figures be the criteria for selection of a scrip in a particular sector or use the combination. Let it be made more meaningful.

5.  20% of the weightage be alloted to Medium caps in the broadex in a suitable way, if possible. Small and Medium Industries account for, perhaps over 40% of the general production / GDP in general and 99% of the traded shares

   

 
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Main / original content:  2001: Last minor modifications: June 12, 2010:     Personal website of R. Ranganathan M.Sc., [ MBA - IIMA]