S&P CNX Nifty
|Operator||India Index Services and Products|
|Exchanges||National Stock Exchange of India|
|Market cap||INR billion (2014)|
|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% 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.
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. The CNX Nifty Index was developed by Ajay Shah and Susan Thomas.
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.
List of 50 companies that form part of CNX Nifty Index as on 3 March 2014:
- with effect from March 28, 2014 Tech Mahindra Ltd. and United Spirits Limited are replacing Jaiprakash Associates Ltd. and Ranbaxy Laboratories Ltd. respectively.
On the following dates, the CNX NIFTY index suffered major single-day falls (of 150 or more points)
- 16 Aug 2013 --- 234.45 Points(because of rupee depreciation) 
- 27 Aug 2013 --- 189.05 Points 
- 03 Sep Aug 2013 --- 209.30 Points
- In 1991, New Delhi kickstarted the economic reforms process owing mainly to the serious balance of payments crisis it was facing.
- 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.
- India Index Services and Products Ltd
- Standard & Poor's
- ChinnaRaja C. “Volatility Index Demystified: From Measure of Uncertainty To An Asset Class”. The Actuary India Magazine (March, 2014) Pg 45.
- CNX Nifty loses importance to sectoral indices
- Sectoral weightage of CNX Nifty 50 Index
- CNX Nifty Index Methodology
- Official Homepage
- Products linked to CNX Nifty Index
- Historical CNX Nifty Index values
- Bloomberg page for NIFTY:IND