S&P CNX Nifty

From Wikipedia, the free encyclopedia
Jump to: navigation, search

The CNX Nifty, also called the Nifty 50 or simply the Nifty, is National Stock Exchange of India's benchmark index for Indian equity market. Nifty is owned and managed by India Index Services and Products Ltd. (IISL), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited. . IISL is India's first specialized company focused upon the index as a core product. IISL has a marketing and licensing agreement with Standard & Poor's for co-branding equity indices. 'CNX' in its name stands for 'CRISIL NSE Index'.

CNX Nifty has shaped up as a largest single financial product in India, with an ecosystem comprising: exchange traded funds (onshore and offshore), exchange-traded futures and options (at NSE in India and at SGX and CME abroad), other index funds and OTC derivatives (mostly offshore).

The CNX Nifty covers 22 sectors of the Indian economy and offers investment managers exposure to the Indian market in one portfolio. During 2008-12, CNX Nifty 50 Index share of NSE market capitalisation fell from 65% to 29%[1] due to the rise of sectoral indices like CNX Bank, CNX IT, CNX Mid Cap, etc. The CNX Nifty 50 Index gives 29.70% weightage to financial services, 0.73% weightage to industrial manufacturing and nil weightage to agricultural sector.[2]

The CNX Nifty index is a free float market capitalisation weighted index. The index was initially calculated on full market capitalisation methodology. From June 26, 2009, the computation was changed to free float methodology. The base period for the CNX Nifty index is November 3, 1995, which marked the completion of one year of operations of National Stock Exchital Market Segment. The base value of the index has been set at 1000, and a base capital of Rs 2.06 trillion.[3] The CNX Nifty Index was developed by Ajay Shah and Susan Thomas. The CNX Nifty currently consists of the following 50 major Indian companies:[4]

Kindly Note, post expiration of agreement between IISL and Standard and Poor’s Financial Service LLC (S&P) on 31st Jan 2013, index is addressed as CNX Nifty Index. (Formerly, S&P CNX Nifty Index)

Here is the list of 50 companies that form part of CNX Nifty Index as on 3 March 2014:

Company Name
ACC Limited
Ambuja Cements Ltd.
Asian Paints Ltd.
Axis Bank Ltd.
Bajaj Auto Ltd.
Bank of Baroda
Bharat Heavy Electricals Limited
Bharat Petroleum Corporation
Bharti Airtel Ltd.
Cairn India Ltd.
Cipla Ltd.
Coal India Ltd.
DLF Limited
Dr. Reddy's Laboratories Ltd.
GAIL (India) Ltd.
Grasim Industries Ltd.
HCL Technologies Ltd.
HDFC Bank Ltd.
Hero MotoCorp Ltd.
Hindalco Industries Ltd.
Hindustan Unilever Ltd.
Housing Development Finance Corporation Ltd.
ITC Limited
ICICI Bank Ltd.
IDFC Ltd.
IndusInd Bank Ltd.
Infosys Ltd.
Jaiprakash Associates Ltd.
Jindal Steel & Power Ltd.
Kotak Mahindra Bank Ltd.
Larsen & Toubro Ltd.
Lupin Limited
Mahindra & Mahindra Ltd.
Maruti Suzuki India Ltd.
NMDC Limited
NTPC Limited
Oil & Natural Gas Corporation Ltd.
PowerGrid Corporation of India Ltd.
Punjab National Bank
Ranbaxy Laboratories Ltd.
Reliance Industries Ltd.
Sesa Sterlite Limited
State Bank of India
Sun Pharmaceutical Industries Ltd.
Tata Consultancy Services Ltd.
Tata Motors Ltd.
Tata Power Co. Ltd.
Tata Steel Ltd.
UltraTech Cement Ltd.
Wipro

Major falls[edit]

On the following dates, the CNX NIFTY index suffered major single-day falls (of 150 or more points)

  1. 16 Aug 2013 --- 234.45 Points(because of rupee depreciation) [5]
  2. 27 Aug 2013 --- 189.05 Points [6]
  3. 03 Sep Aug 2013 --- 209.30 Points
  4. In 1991, New Delhi kickstarted the economic reforms process owing mainly to the serious balance of payments crisis it was facing.
  5. 1997 Asian Financial Crisis - Investors deserted emerging Asian shares, including an overheated Hong Kong stock market. Crashes occur in Thailand, Indonesia, South Korea, Philippines, and elsewhere, reaching a climax in the October 27, 1997 mini-crash.

See also[edit]

References[edit]

External links[edit]