Starting on Monday, the National Stock Exchange (NSE) announced that its indices CNX Nifty will be known as Nifty 50, Nifty Junior will be known as Nifty Next 50 and CNX IT will be known as Nifty IT.
NSE rebranded all its indices with the prefix 'Nifty' on the auspicious day of Dhanteras on Monday.
"Today onwards, the entire family of indices from NSE's group company - India Index Services & Products Limited (IISL), will be rebranded, with a prefix NIFTY and some changes in names to make it more significant and meaningful," the NSE said in a statement.
"While this is an important indication of the attractiveness of the Indian market, it is also a significant indication of the trust, faith and respect for the NIFTY brand name. It is only natural that the name NIFTY should be the natural choice and become the umbrella brand," NSE's MD and CEO Chitra Ramkrishna said in a statement.
The benchmark CNX Nifty which has now become Nifty 50 first started operating on November 3, 1995. Nifty 50 derivatives are also traded on Singapore Exchange, Chicago Mercantile Exchange and Osaka Exchange.
