Dow Jones Indexes has launched a new faith-based index that looks to the principles of Hinduism and Buddhism, similar to traditional sin sector filters.

Unlike sin stocks, companies engaged in sectors like aerospace, defense, alcohol and breweries, casinos and gambling, pharmaceuticals, tobacco, adult entertainment, animal testing and genetic modification of foods would not be included in the index.

The Dharma India Index will track the performance of 250 companies and is likely to include companies like ICICI Bank, L&T, Infosys, HDFC and Bharti Airtel, according to Sumeet Nihalani, senior director of the Asia Pacific region for Dow Jones Indexes.

Dow Jones came out with its first faith-based index in 1999 with an Islamic market index.

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