Description

BSE Index Services announces change in 10 Year benchmark for BSE India 10 Year Sovereign Bond Index, effective October 31, 2025.

Summary

BSE Index Services Private Limited has announced a change in the 10 Year benchmark constituent for the BSE India 10 Year Sovereign Bond Index. The modification involves replacing one government security with another, effective Friday, October 31, 2025. The new benchmark security is 6.48% GOVT. STOCK 2035 (ISIN: IN0020250091, maturity October 6, 2035), which will replace the existing 6.33% GOVT. STOCK 2035 (ISIN: IN0020250026, maturity May 5, 2035).

Key Points

  • BSE India 10 Year Sovereign Bond Index benchmark will be updated
  • New security to be added: 6.48% GOVT. STOCK 2035 (maturing October 6, 2035)
  • Security to be dropped: 6.33% GOVT. STOCK 2035 (maturing May 5, 2035)
  • Change effective from October 31, 2025
  • Index maintained by BSE Index Services Private Limited

Regulatory Changes

No regulatory changes. This is a routine index composition adjustment based on BSE’s index methodology.

Compliance Requirements

  • Index fund managers tracking BSE India 10 Year Sovereign Bond Index need to rebalance portfolios
  • Market participants should update their reference benchmarks accordingly
  • Queries can be directed to bseindex@bseindia.com

Important Dates

  • October 28, 2025: Notice date
  • October 31, 2025: Effective date for index composition change

Impact Assessment

This change affects fixed income investors and fund managers who track or benchmark against the BSE India 10 Year Sovereign Bond Index. The replacement involves switching to a higher coupon government security (6.48% vs 6.33%) with a slightly later maturity date (October 2035 vs May 2035). Index tracking funds will need to execute trades to reflect this change. The impact on broader market operations is limited to fixed income segment participants and does not affect equity markets.

Impact Justification

Routine index rebalancing affecting fixed income investors tracking BSE India 10 Year Sovereign Bond Index. Limited immediate market impact but relevant for index fund managers and bond traders.