BSE Saatvik 100 Index: Stock List, Methodology, Returns & Key Features

Key Takeaways 

• BSE has launched the BSE Saatvik 100, India’s first index based on Saatvik principles and ethical investing.
• The index selects 100 stocks from the BSE 500 after applying value-based criteria such as non-violence (Ahimsa), compassion towards living beings, and the avoidance of toxic or addictive products and habits.
• Financial services hold the largest weight in the index, followed by the consumer discretionary and energy sectors.
• The top holdings in the BSE Saatvik 100 include HDFC Bank, ICICI Bank, Reliance Industries, Bharti Airtel and Larsen & Toubro.
• While the index shares some similarities with ESG investing, its methodology is based on philosophical and ethical exclusion rather than environmental, social and governance metrics alone.
• The launch of the BSE Saatvik 100 reflects the growing demand for investment products that align financial goals with personal values and ethical preferences.
• The BSE Saatvik 100 could pave the way for future passive investment products, including ETFs and index funds built around the index.

The Bombay Stock Exchange (BSE) has introduced the BSE Saatvik 100, India's first stock market index designed around Saatvik principles. The launch adds a new category to India's growing universe of thematic indices and reflects the growing interest in investment approaches that consider both financial and non-financial factors.

While traditional indices primarily focus on market capitalisation and liquidity, the BSE Saatvik 100 applies an additional layer of screening based on specific ethical principles before selecting companies for inclusion.

What is the BSE Saatvik 100 Index?

The BSE Saatvik 100 is a benchmark index that tracks the performance of 100 companies selected from the broader BSE 500 index. The index seeks to represent companies that meet predefined eligibility criteria and exclude businesses that are inconsistent with certain Saatvik principles.

The index was launched on June 17, 2026, with a base date of June 20, 2005, and a base value of 1,000. It is reviewed and rebalanced twice a year, in June and December.

What Does 'Saatvik' Mean in Investing?

The concept of "Saatvik" originates from Indian philosophy and is commonly associated with purity, balance, responsibility, and conscious decision-making.

For the purpose of the index, companies that are considered to be in direct conflict with the following Saatvik principles are excluded:

• Non-violence (Ahimsa)
• Compassion towards living beings
• Avoidance of toxic and addictive products or habits

By applying these filters, the index aims to create a portfolio of companies that align with these broad value-based considerations.

Historical Performance of the BSE Saatvik 100 Index

The BSE Saatvik 100 Index has delivered steady long-term returns based on back-tested data. On a total returns basis, the index has generated 12.22% over three years, 11.11% over five years, and 13.70% over ten years, though it posted a marginal decline of 0.61% over the past year. 

Top 10 Holdings of the BSE Saatvik 100 Index

As on May 29, 2026, the largest constituents in the index included:

Together, the top 10 holdings accounted for nearly half of the index weight, reflecting the dominance of some of India's largest listed companies.

Sector Breakdown of the BSE Saatvik 100 Index

The BSE Saatvik 100 is diversified across multiple sectors, although financial services account for the largest share.

How Is the BSE Saatvik Index Different from ESG Investing?

The BSE Saatvik 100 shares some similarities with Environmental, Social, and Governance (ESG) investing, but the two approaches are not identical.

ESG frameworks generally evaluate companies based on environmental impact, social responsibility, and governance practices. The Saatvik index, on the other hand, uses screens rooted in specific ethical and philosophical principles while still relying on market-cap-based stock selection.

As a result, a company that qualifies for an ESG index may not necessarily qualify for the Saatvik index, and vice versa.

What Should Investors Keep in Mind?

While the BSE Saatvik 100 introduces a unique value-oriented investing framework, investors should evaluate it as they would any other index. 

Factors such as sector concentration, valuation levels, diversification, investment objectives, and risk tolerance remain important considerations. Investors should also remember that historical back-tested performance does not guarantee future returns.

The Bottom Line

The launch of the BSE Saatvik 100 marks a notable development in India's thematic investing landscape. By combining market-cap-based stock selection with value-oriented screening criteria, the index offers a new benchmark for investors seeking to align their investments with specific ethical considerations. As interest in thematic and responsible investing continues to grow, the index could potentially serve as the foundation for future passive investment products such as ETFs and index funds.

Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.

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