indexnse: nifty_next_50: The Nifty is the National Stock Exchange (NSE) ‘s flagship benchmark, a well-diversified index comprising the top 50 free-float market capitalization-listed companies. It is intended to reflect the health of the listed universe of Indian companies and, therefore, the broader economy in all market conditions.
Officially called the Nifty50, the index is calculated using the free float method, essentially the number of outstanding shares active in the market at any given time.
The Nifty, like the benchmark BSE Sensex index, is used today to compare portfolios and performance in fund schemes and launch index funds.
The Nifty Index was tossed on April 22, 1996, with a base value of 1000 counted from November 3, 1995. Live Nifty quotes are available on NSEIndia.com, ETMarkets.com, and many other platforms and web channels. Television anytime.
The Nifty brand and indices are achieved by Mumbai-based India Index Services and Products Limited, or IISL for short, a subsidiary of the NSE. IISL has a three-tier management structure consisting of the Board, the Index Policy Committee, and the Index Maintenance Sub-Committee. IISL managed about 67 indices under the Nifty brand on 30 September 2016.
IISL rebalances the Nifty index semi-annually. The closing dates for the semi-annual review of the index are 31 January and 31 July each year. Average data for the six months ending on the date of stay is taken into account. The exchange announces any changes to the index four weeks before such changes take effect.
There are defined eligibility criteria for the selection of shares in Nifty. The liquidity of a stock is measured as the cost of market shock, which is essentially the cost of trading a stock. For a stock to qualify for listing on the Nifty50, it must have traded at an average impact cost of 0.50 percent or less over six months and for 90 percent of the observations.
In addition, the company must have a listing history of at least six months. However, a newly listed company, which has just been listed through the initial public offering, may be eligible for inclusion in the index if it meets the normal eligibility criteria for a period of three months instead of six months.
Only those shares eligible to be listed on the F&O segment of the NSE are considered for inclusion as constituents of Nifty.
As of September 20, 2017, Nifty had 35.73% components from the financial sector, 14% from the energy sector, 11.46% from the information technology sector, 10.64% from the automobile, and 10.13% from the basic consumer sector. Six of the nine BFSI companies in Nifty50 were private sector banks.
The Nifty index has several alternatives, such as Nifty Junior, Nifty50 USD, Nifty50 Total Returns index, and NIFTY50 Dividend Points Index.
The NIFTY Next 50 Index represents 50 companies of the NIFTY 100 after excluding the NIFTY 50 companies.
From May 04, 2009, NIFTY Next 50 is computed based on free float methodology.
“NIFTY NEXT 50 – Capturing the performance of ‘Next 50’ blue-chip companies in large cap universe” – white paper by NSE Indices (.pdf)
Download List of NIFTY Next 50 Stocks (.csv)
Download Fact Sheet NIFTY Next 50 (.pdf)
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