NIFTY 50

It is the flagship benchmark of the National Stock Exchange (or NSE) that is a well-diversified index, and comprise of the top 50 companies in terms of free-float market capitalization that are traded on the bourse. It is supposed to reflect the health of the listed universe of Indian companies, and hence the broader economy, in all market conditions. It is also officially known as the Nifty50, and the index is computed using the free-float market capitalization method that is essentially the count of shares in active circulation in the market at any given point of Also, Nifty is just like BSE benchmark Sensex, which is now used for benchmarking portfolios and returns of the mutual fund schemes and launching index On April 22, 1996, the Nifty index was launched with a base value of 1,000 counted from November 3, 1995. Also, Live Nifty quotes are available on NSEIndia.com, ETMarkets.com, and numerous other web platforms and TV channels at any point of The Nifty brand and indices are managed by the Mumbai-based India Index Services and Products Limited, IISL in short, which itself is a subsidiary of NSE. IISL has a three-tier governance structure comprising the board of directors, the index policy committee, and the index maintenance sub-committee. IISL managed some 67 indices under the Nifty brand as of September 30, 2016. IISL rebalances the Nifty index semi-annually, and the cut-off dates for the semi-annual review of the index are January 31 and July 31 each year. Also, the average data of six months ending the cut-off date is considered. And the exchange notifies any change in the index four weeks before such changes take effect. Also, there are some defined eligibility criteria for the selection of Nifty constituent stocks. As the liquidity of a stock is measured by the market impact cost that is essentially the cost involved in transacting a stock. And for a stock to qualify for inclusion in the Nifty50, it must have traded at an average impact cost of about 0.50% or less for six months and 90% of observation cases. Also, only those stocks that are eligible for trade-in the F&O segment of NSE are being considered for inclusion as Nifty constituents. On September 20, 2017, it had about 35.73% components from the financial services sector, and 14% from the energy sector, and 11.46% from the information technology sector, and 10.64% from the automobile sector and 10.13% from the consumer goods sector. Also, six of the nine BFSI companies in the Nifty50 were private banks. Also, the Nifty index has many variants such as Nifty Junior, Nifty50 Total Returns index, Nifty50 USD, and NIFTY50 Dividend Points Index.

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