S&P CNX Nifty

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CNX Nifty
Foundation 1995
Operator India Index Services and Products
Exchanges National Stock Exchange of India
Constituents 50
Type Large cap
Market cap INR billion (2014)
Weighting
method
Capitalization-weighted
Website Official home page

The CNX Nifty, also called the Nifty 50 or simply the Nifty, is National Stock Exchange of India's benchmark stock market index for Indian equity market. Nifty is owned and managed by India Index Services and Products (ISL), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited. IISL had a marketing and licensing agreement with Standard & Poor's for co-branding equity indices until 2013. The 'CNX' in the 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 Exchange Equity 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.

History[edit]

Formerly known as the S&P CNX Nifty Index, it was renamed in 2013 with the expiration of agreement between IISL and Standard and Poor’s Financial Service on 31st Jan 2013.

Components[edit]

List of 50 companies that form part of CNX Nifty Index as on 3 March 2014:

Company Name Ticket
ACC Limited 500410
Ambuja Cements Ltd. 500425
Asian Paints Ltd. 500820
Axis Bank Ltd. 532215
Bajaj Auto Ltd. 532977
Bank of Baroda BOB
Bharat Heavy Electricals Limited 500103
Bharat Petroleum Corporation 500547
Bharti Airtel Ltd. 532454
Cairn India Ltd. 532792
Cipla Ltd. CIPLA
Coal India Ltd. 533278
DLF Limited 532868
Dr. Reddy's Laboratories Ltd. 500124
GAIL (India) Ltd. 532155
Grasim Industries Ltd. 500300
HCL Technologies Ltd. 532281
HDFC Bank Ltd. HDFCBANK
Hero MotoCorp Ltd. 500182
Hindalco Industries Ltd. 500440
Hindustan Unilever Ltd. 500696
Housing Development Finance Corporation Ltd. 500010
ITC Limited ITCTY
ICICI Bank Ltd. 532174
IDFC Ltd. 532659
IndusInd Bank Ltd. 532187
Infosys Ltd. 500209
Jaiprakash Associates Ltd. 532532
Jindal Steel & Power Ltd. JINDALSTEEL
Kotak Mahindra Bank Ltd. 500247
Larsen & Toubro Ltd. LTORY
Lupin Limited LUPIN
Mahindra & Mahindra Ltd. MM
Maruti Suzuki India Ltd. 532500
NMDC Limited 526371
NTPC Limited 532555
Oil & Natural Gas Corporation Ltd. 500312
PowerGrid Corporation of India Ltd. 532898
Punjab National Bank PNB
Ranbaxy Laboratories Ltd. RBXZF
Reliance Industries Ltd. 500325
Sesa Sterlite Limited SSLT
State Bank of India SBKFF
Sun Pharmaceutical Industries Ltd. 524715
Tata Consultancy Services Ltd. 524715
Tata Motors Ltd. 500570
Tata Power Co. Ltd. 500400
Tata Steel Ltd. 500470
UltraTech Cement Ltd. 532538
Wipro WPRO

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) [4]
  2. 27 Aug 2013 --- 189.05 Points [5]
  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]