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The National Stock Exchange (NSE) is launching four new indices on Monday, in both the capital markets and Futures and Options (F&O) segments. It had made the announcement on April 3.
These four new indices are Nifty Tata Group 25 per cent Cap, Nifty 500 Multicap India Manufacturing 50:30:20, Nifty 500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare.
According to a report in the Mint, the NSE had put forth a plan to distribute indices that include Nifty Tata Group 25 per cent Cap, Nifty 500 Multicap India Manufacturing 50:30:20, Nifty 500 Multicap Infrastructure 50:30:20, and Nifty MidSmall Healthcare through online channels.
In the circular, the NSE had stated, “Consequently, the broadcast of the indices will be made available to F&O members in NEAT+ terminals under the multiple index inquiry screen.”
Nifty Tata Group 25 per cent Cap
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As stated by the NSE, the Nifty Tata Group 25 per cent Cap index comprises 10 companies and is aimed at using the free float market capitalisation method. Since its inception, it has yielded returns of 17.34 per cent. The index’s primary components include TCS, Tata Motors, and Titan Company.
Nifty 500 Multicap India Manufacturing 50:30:20
The Nifty 500 Multicap India Manufacturing 50:30:20 Index is aimed at monitoring the performance of specific large-cap, mid-cap, and small-cap stocks from the Nifty 500 index that embody the manufacturing theme.
Comprising 75 constituents, this index allocates weights to stocks based on free-float market capitalisation. The large-cap stocks hold a fixed weight of 50 per cent, mid-cap stocks 30 per cent, and small-cap stocks 20 per cent. The top constituents of the index are Reliance Industries, Sun Pharmaceutical Industries, Tata Motors, Maruti Suzuki India, Mahindra & Mahindra, Tata Steel, Bajaj Auto, Hindalco Industries, JSW Steel, and Cipla.
Nifty 500 Multicap Infrastructure 50:30:20
The Nifty 500 Multicap Infrastructure 50:30:20 Index is aimed to mirror the performance of chosen large-cap, mid-cap, and small-cap stocks from the Nifty 500 index that embody the infrastructure theme. Comprising 75 constituents, this index allocates weights to stocks based on their free-float market capitalisation. The large-cap segment holds a fixed weight of 50 per cent, the mid-cap segment 30% per cent, and the small-cap segment 20 per cent.
The top 10 constituents in the index are Larsen & Toubro, Adani Ports, RIL, NTPC, Bharti Airtel, Max Healthcare, UltraTech Cement, Indian Hotels, Power Grid Corp, ONGC, and SEZ. Notably, Larsen & Toubro commands the highest weight at 10.35 per cent.
Nifty MidSmall Healthcare
The Nifty MidSmall Healthcare index will track the performance of midcap and smallcap stocks in the healthcare sector. Comprising up to 30 stocks, it is drawn from the Nifty MidSmallcap 400 index, chosen based on their six-month average free-float market capitalisation. The top constituents of the index are Max Healthcare Institute, Aurobindo Pharma, and Lupin Limited. The index has given returns of 21.33 per cent since its inception.
