ICSE plans 100 scrip index

MUMBAI, February 28: The Inter-Connected Stock Exchange ICSE, which plans to commence operations from May this year, is planning a broad-based index of 100 stocks which will be called ISE Index.

The index will represent the national character of the exchange and will be constructed internally. ICSE is also planning to implement the revised carryforward system during the second phase which will start in January, 1999.

The regional stock exchanges, which are a part of ICSE, are interested in taking part in the revised carryforward system currently in place at the Bombay Stock Exchange. The index will try to represent heavyweight stocks of regional exchange that has joined the ICSE.