EW Series of Equity Indices

EW series of equity market indices is a one-of-a-kind investment tool that tracks the value of traditional investment-grade Indian capital market securities. EW series of indices has been devised to measure the overall value of Indian capital market. Equity indices as exemplified by the well known Sensex and Nifty – are immediately recognizable and broadly accepted. However no one is tracking total value of Indian capital market. EW All Share Index views the capital markets on a broad and consolidated basis. Other indexes within the Eastwind series of indices measure sub-segments of the market.

The EW series of indices are being created to meet the market's need for:-

  1. Sophisticated measure of the performance of the entire capital market
  2. An improved measure of risk-reward ratios, and better tools with which to make asset allocation and investment decision
  3. Effective one-stop market portfolio diversification
  4. Using "Eastwind" portfolios in asset management
  5. A basis for mutual funds, exchange-traded funds (ETF's), options, futures and other derivative products

EW series of indices would have value not only among the professional investment community, but also among individual investors, market regulators, academic and research institutions and even government agencies.

Index-building process is an enormous task and Eastwind has, over the past one year, collected huge amount of data and each day, additional data is being collected. The data is organized, processed and updated everyday, using rules-based methods, to formulate the index. This statistical selection removes the subjectivity associated with other indexes and more accurately represents the history, mix and behavior of the capital markets.

EW series of indices has the following key characteristics:

  1. It is an objectively built index and removes problems associated with subjectively designed other indices.
  2. Market capitalization being only parameter for stock selection makes it true benchmark for investment.
  3. Universe of the indices is defined in % terms and not in fixed number of shares. This makes it flexible to capture any development in the capital market.
  4. Objectively replicates the capital markets' actual asset allocation.
  5. Has no known competitor in measuring the broader capital markets' performance.

Extensive market research confirms that Eastwind meets the needs of professional and individual investors for measuring the aggregate capital market and providing the basis for a variety of efficient and innovative strategies for Investment.

Going forward, Eastwind intends to develop “custom” index and tools to suit individual benchmarking requirements. At Eastwind, we are also in the process of developing sectors, style (value, growth, and blend), and life stage index.

Daily index values, Index constituents and methodology are available on the Eastwind website at www.eastwind.in. Historical data and other information regarding Indices can be made available on demand.

The broadest Eastwind Index- EW All shares index, which consists of the largest 1330 stocks as listed in BSE and comprising of 99.5% of the total Market Capitalization. Total capitalization of EW All Share Index on base date is Rs 56,14,062 Crores. There are other sub indices such as Eastwind Hi Cap, Mid Cap, Small Cap, Micro Cap and Small & Micro Cap. The members of Eastwind indexes are determined each year during annual reconstitution and enhanced quarterly with the addition of Initial public offerings (IPOs).

Available Indexes:

Indexes Represents what x% of the Indian equity market No. of

EW All share



EW Hi Cap



EW Mid Cap



EW Small Cap



EW Micro Cap



EW Small & Micro Cap



* as on 20 Feb 2007

The base year for EW series of Indices is 2008. The market cap as on 20th Feb’ 2008 is taken as base. However, Index has been calculated from 20th Feb’2007.

Further, Companies those are part of EW All Share Index are classified into 10 Sectors, 45 Industries and 85 sub-industries for analysis purpose. Index management group at EASTWIND also maintains detailed financials and in depth research report of these companies.

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