NCDEX launches agri sectoral indices GUAREX, SOYDEX

Mumbai: The National Commodity and Derivatives Exchange (NCDEX) has launched two sectoral indices — GUAREX and SOYDEX.

"In the indices segment, we launched India's first return-based agricultural futures index in agri-commodities. GUAREX and SOYDEX are also the country's first sectoral indices in the agri-commodities space," NCDEX MD and CEO Arun Raste said in a statement on Monday. GUAREX is a return-based index tracking the price movement in the futures contracts of its underlying, that is guar seed and guar gum refined splits on a real-time basis.

Similarly, SOYDEX will follow the price changes in futures contracts of soybean and refined soy oil. Initially, both the indices will be available on the agri-commodity exchange's website and will be representative only to gauge the performance of guar complex and soy complex. The futures trading in these indices will be launched in due course, NCDEX stated. The weightage of guar seed and guar gum refined splits in GUAREX stand at 63.43 per cent and 36.57 per cent, respectively. In SOYDEX, soybean and refined soy oil will have the weightage of 67.92 per cent and 32.08 per cent, respectively.