The Index Maintenance Committee, comprising senior officials from the Indian Statistical Institute (ISI), Credit Analysis & Research Ltd and MCX, today announced changes in the composition and weightage of India’s first real-time composite commodity futures index - MCX-COMDEX. The index is calculated and displayed on a real-time basis on MCX Trader Work Stations and at various other display centers.
MCX-COMDEX captures diversified sectors encompassing futures contracts drawn on metals, energy and agricultural commodities that are traded on MCX. The index was initially designed and developed by the Research and Development Department of MCX in association with Indian Statistical Institute (ISI), Kolkata, and launched in June 2005.
Before the changes, the COMDEX was composed of wheat, urad, soya oil, rubber, guarseed, kapaskhali in agri; gold, silver, copper in metals; and crude oil in energy. In order to synchronize index with changing economic dynamics and increased trading activities on the exchange, the Index Committee has decided to revamp its composition and weights.
In the process, group weights in the composite index have been modified from equal weights of sub-indices to 40 percent each in the case of MCX Metal Index and MCX Energy Index and 20 percent in the case of MCX Agri Index. Thus each sector has been given due weightage to represent its significance in the physical and futures markets.
The new composition of commodities and their weights in the MCX-COMDEX are:
|
Commodity |
Final Wts. |
Group Wts. |
|
MCX-METAL |
||
1 |
Gold |
16.6% |
40% |
2 |
Silver |
10.4% |
|
3 |
Copper |
7.0% |
|
4 |
Aluminum |
2.0% |
|
5 |
Nickel |
2.0% |
|
6 |
Zinc |
2.0% |
|
|
MCX-ENERGY |
||
7 |
Crude Oil |
31.8% |
40% |
8 |
Natural Gas |
8.2% |
|
|
MCX-AGRI |
||
9 |
Ref. Soy Oil |
3.1% |
20% |
10 |
Mentha Oil |
4.5% |
|
11 |
Potato |
3.3% |
|
12 |
Kapaskhalli |
2.0% |
|
13 |
Cardamom |
2.0% |
|
14 |
Chana |
3.1% |
|
15 |
Guarseed |
2.0% |