Jump to content

NIFTY 50

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Novacatz (talk | contribs) at 12:38, 12 December 2007 (remove notice which is wrong). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

The S&P CNX Nifty (Standard & Poor's CRISIL NSE Index 50 nicknamed Nifty 50 or simply Nifty) (Ticker NSE:^NSEI), is the leading index for large companies on the National Stock Exchange of India. S&P CNX Nifty is a well diversified 50 stock index accounting for 22 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds.

(The 'Nifty 50' nickname should not be confused with the Nifty 50 set of 50 leading stocks on the New York Stock Exchange in the 1970s.)

Ownership and management

S&P CNX Nifty is owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL. IISL is India's first specialised company focused upon the index as a core product. IISL has a licensing and marketing agreement with Standard & Poor's (S&P), who are world leaders in index services.

CNX stands for CRISIL NSE Indices. CNX ensures common branding of indices, to reflect the identities of both the promoters, i.e. NSE and CRISIL. Thus, 'C' stands for CRISIL, 'N' stands for NSE and X stands for Exchange or Index. The S&P prefix belongs to the US-based Standard & Poor's Financial Information Services.

    • The average total traded value for the last six months of all Nifty stocks is approximately 43.72% of the traded value of all stocks on the NSE.
    • Nifty stocks represent about 55.78% of the total market capitalization as on June 29, 2007.
    • Impact cost of the S&P CNX Nifty for a portfolio size of Rs.5 million is 0.06%
    • S&P CNX Nifty is professionally maintained and is ideal for derivatives trading. It is quoted using the symbol NSEI.

It is calculated as a weighted average, so changes in the share price of larger companies have more effect. The base is defined as 1000 at the price level of November 3, 1995, at which time the total capitalisation was Rs.2,060,000 million. As on September 27 2007, Index's value is 5000.55. The Nifty crossed the 6000 points milestone on November 1, 2007.[1]

Criteria for inclusion

  • Average market capitalisation of Rs.5,000 million or more during the last six months.
  • Liquidity: Cost of transaction (impact cost) of less than 0.75% for more than 90% of trades, over six months.
  • At least 10% floating stock (not held by promoters of the company or their associates).

The Nifty has crossed 5000 as a record mark.

Nifty components

The list of constituents of S&P CNX Nifty as on September 27, 2007 along with the Market capitalization details and weightages is as follows:

Company name Market Capitalization (Rs. Crore) Weightage
RELIANCE INDUSTRIES LTD. 323057 11.69
OIL AND NATURAL GAS CORPORATION LTD. 208059 7.53
BHARTI AIRTEL LIMITED 182208 6.59
NTPC LTD 159921 5.79
RELIANCE COMMUNICATIONS LTD. 119109 4.31
ICICI BANK LTD. 112542 4.07
INFOSYS TECHNOLOGIES LTD. 109435 3.96
TATA CONSULTANCY SERVICES LTD 103977 3.76
BHEL 99874 3.61
STATE BANK OF INDIA 98981 3.58
STEEL AUTHORITY OF INDIA 83042 3.01
LARSEN & TOUBRO LTD. 81216 2.94
ITC LTD 69786 2.53
RELIANCE PETROLEUM LTD. 67928 2.46
HDFC LTD 67878 2.46
WIPRO LTD 67183 2.43
STERLITE INDUSTRIES LTD. 53884 1.95
HDFC BANK LTD 50619 1.83
TATA STEEL LIMITED 48413 1.75
HINDUSTAN UNILEVER LTD. 48318 1.75
SUZLON ENERGY LIMITED 41746 1.51
GAIL (INDIA) LTD 32029 1.16
GRASIM INDUSTRIES LTD 31526 1.14
SATYAM COMPUTER SERVICES 29579 1.07
TATA MOTORS LIMITED 28960 1.05
MARUTI UDYOG LIMITED 28318 1.02
ABB LTD. 27244 0.99
BAJAJ AUTO LTD 25657 0.93
RELIANCE ENERGY LTD 25530 0.92
SIEMENS LTD 22786 0.82
ACC LIMITED 22278 0.81
AMBUJA CEMENTS LTD 21995 0.80
HCL TECHNOLOGIES LTD 20340 0.74
HINDALCO INDUSTRIES LTD 20163 0.73
NATIONAL ALUMINIUM CO LTD 19896 0.72
SUN PHARMACEUTICALS IND. 18784 0.68
MAHINDRA & MAHINDRA LTD 18463 0.67
TATA POWER CO LTD 17494 0.63
PUNJAB NATIONAL BANK 16829 0.61
RANBAXY LABS LTD 15675 0.57
HERO HONDA MOTORS LTD 14877 0.54
ZEE ENTERTAINMENT LTD 14134 0.51
INDIAN PETROCHEMICALS CORPORATION LTD. 13879 0.50
CIPLA LTD 13680 0.50
BHARAT PETROLEUM CORPORATION LTD. 13135 0.48
VIDESH SANCHAR NIGAM LTD 12697 0.46
DR. REDDY'S LABORATORIES 10894 0.39
MAHANAGAR TELEPHONE NIGAM LTD 10342 0.37
GLAXOSMITHKLINE PHARMA LTD. 9486 0.34
- 2763090 -

References

  1. ^ [getpaidindia.com/nifty-touches-6000-%e2%80%93-indian-markets-open-in-green-20071101 "Nifty touches 6000 - Indian markets open in green"]. {{cite news}}: Check |url= value (help)
Retrieved from "https://en.wikipedia.org/w/index.php?title=NIFTY_50&oldid=177419226"