- Summary
- BSE Saatvik 100 is a thematic index of 100 companies from the BSE 500 that fulfil specified Saatvik principles. BSE Index Services launched it on 17 June 2026.
- The index excludes industries that conflict with non-violence, compassion for living beings, and the avoidance of toxic and addictive products or habits.
- The index uses float-adjusted market capitalisation for weighting and is reviewed semi-annually in June and December.
What is the BSE Saatvik 100 Index?
The BSE Saatvik 100 Index is a thematic stock market index that tracks the performance of 100 companies selected from the BSE 500 based on specified Saatvik principles. It excludes certain Basic Industries that do not align with these principles.
The index’s first value date is 20 June 2005. Therefore, any performance information available before 17 June 2026 is based on back-tested index performance rather than live trading performance.
The BSE Saatvik 100 is reconstituted semi-annually in June and December. Weighting of its constituents is based on the float-adjusted market capitalisation method.
As of 9 September 2026, the BSE Saatvik 100 stood at 11,333.75.
The index serves as a yardstick for active investment strategies and can be the foundation for passive investment products, such as ETFs and index funds.
What Does ‘Saatvik’ Mean in Investing?
Saatvik is associated with the concepts of purity, non-violence, and compassion. There are industry-level exclusions in the BSE Saatvik 100 methodology, which are derived from these principles.
The following three principles form the basis of the industry’s exclusions in the index:
- Non-violence (Ahimsa)
- Compassion for living beings
- Steer clear of toxic or addictive items or behaviours.
By removing some Basic Industries from the eligible BSE 500 universe, the technique puts these ideas into practice. Cigarettes and tobacco, breweries and distilleries, livestock and fish products, leather goods, aerospace and defence, pharmaceuticals, and some recreational and retail activities are among the industries that are not included.
The index’s emphasis on non-violence, compassion for living things, and abstaining from harmful or addictive goods or behaviours is reflected in these omissions. Before businesses are selected for inclusion in the index, exclusions are applied at the industry level.
How are companies selected for the BSE Saatvik 100?
The selection process starts with the BSE 500. The stocks included in the specified excluded Basic Industries are excluded from the eligible universe. The remaining companies are then evaluated based on average total market capitalisation.
The methodology is applied to the index using a buffer system at every semi-annual review to minimise unnecessary changes to the index. The top 80 companies based on the average six-month total market capitalisation are chosen first. Existing constituents ranked from 81 to 120 are retained in descending rank order until the index reaches 100 companies.
If the number of companies is not yet complete, other eligible non-constituents are selected based on market capitalisation ranking.
The weighting of the final constituents is based on float-adjusted market capitalisation.
Historical Performance of the BSE Saatvik 100 Index
The BSE Saatvik 100 has a first value date of 20 June 2005, while the index was officially launched on 17 June 2026. Therefore, performance figures covering periods before the launch are based on historical back-testing rather than live index performance.
The BSE Index Snapshot provides the following annualised performance figures as of 31 August 2026:
| Period | Total Return | Price Return |
| 1 Year | 3.42% | 2.30% |
| 3 Years | 11.22% | 9.90% |
| 5 Years | 9.41% | 8.01% |
| 10 Years | 12.88% | 11.43% |
Source: BSE Saatvik 100 Index
As of August 2026, the index level of the Price Return Index and the Total Return Index were 11,614.46 and 15,492.02, respectively.
Top 10 Holdings of the BSE Saatvik 100 Index
The BSE Index Snapshot lists the following top 10 constituents by weight as of 31 Aug 2026:
| Rank | Company | Weight |
|---|---|---|
| 1 | HDFC Bank Ltd | 8.96% |
| 2 | ICICI Bank Ltd | 8.62% |
| 3 | Reliance Industries Ltd | 7.21% |
| 4 | Bharti Airtel Ltd | 4.62% |
| 5 | Larsen & Toubro Ltd | 3.91% |
| 6 | Infosys Ltd | 3.26% |
| 7 | State Bank of India | 3.65% |
| 8 | Axis Bank Ltd | 3.04% |
| 9 | Kotak Mahindra Bank Ltd | 2.55% |
| 10 | Mahindra & Mahindra Ltd | 2.46% |
Together, these 10 companies accounted for 48.32% of the index weight as of 31 August 2026. Financial services companies have a significant presence among the top 10 holdings, including HDFC Bank, ICICI Bank, State Bank of India, Axis Bank, and Kotak Mahindra Bank.
Sector Breakdown of the BSE Saatvik 100 Index
The BSE Saatvik 100 Index includes companies from various industries. But the index is quite heavily weighted towards financial services.
The sector allocation as of 31 Aug 2026 was:
| Sector | Weight |
| Financial Services | 38.96% |
| Consumer Discretionary | 12.26% |
| Energy | 10.03% |
| Industrials | 8.21% |
| Information Technology | 8.02% |
| Commodities | 7.50% |
| Telecommunication | 5.36% |
| Utilities | 4.65% |
| Services | 2.24% |
| Fast Moving Consumer Goods | 1.38% |
| Healthcare | 1.37% |
Financial Services had the highest weight at 38.96%, followed by Consumer Discretionary at 12.26% and Energy at 10.03%.
This largest sector distribution is significant for investors, as it can have a strong impact on the index’s performance. It also reveals that the level of exclusion in industry does not lead to uniform exposure across sectors.
Difference between BSE Saatvik Index and ESG Investing?
ESG investing also considers social, environmental, and governance factors. But they have different means of investing.
ESG refers to ‘Environmental, Social, and Governance ‘. ESG investing includes climate change, carbon emissions, employee relations, human rights, board composition and corporate governance in investment analysis.
BSE’s Saatvik 100 is based on a values screening approach. It excludes companies in Basic Industries that do not align with its stated Saatvik principles, then selects eligible companies based on their market capitalisation.
| Basis | BSE Saatvik 100 | ESG Investing |
|---|---|---|
| Main focus | Saatvik principles and values-based exclusions | Environmental, Social and Governance factors |
| Selection approach | Industry-level exclusion followed by market-cap selection | ESG factors can be integrated into investment analysis and portfolio construction |
| Environmental scoring | Not the primary selection mechanism | Considers environmental factors |
| Social factors | Applied through specified Saatvik exclusions | Considers broader social factors |
| Governance | Not used as a separate graded score | Corporate governance is a core ESG component |
| Investment philosophy | Values-based/thematic screening | Risk, opportunity and sustainability-oriented analysis |
Final Thoughts
After applying Saatvik-based industry exclusions, 100 businesses from the BSE 500 are chosen for the BSE Saatvik 100, which introduces a values-based approach to the Indian equities market. It is reconstructed semi-annually and incorporates these exclusions along with a float-adjusted market-capitalisation strategy.
The index’s past performance prior to its June 2026 launch is back-tested rather than based on real-time trading. For investors interested in a values-based investment strategy, it can act as a benchmark; future investability will rely on how products like index funds and exchange-traded funds (ETFs) are developed.
FAQ‘s
The BSE Saatvik 100 is a thematic index that comprises 100 companies from the BSE 500 that meet certain Saatvik criteria.
The BSE Saatvik 100 stood at 11,333.75 on 9 September 2026.
