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NIFTY
WHAT IS NIFTY
The S&P CNX Nifty or more popularly the Nifty is a stock market index of
the National Stock Exchange and comprises of 50 stocks that form the index.
SENSEX
WHAT IS SENSEX
While the BSE has the Sensex, the NSE has the Nifty. While the Sensex comprises
only 30 top listed stocks, based on various criteria, there are 50 stocks that
form part of the Nifty.
NSE : NATIONAL STOCK EXCHANGE
India
Index Services and Products Ltd. (IISL) owns NIFTY. IISL is a joint venture of
NSE and CRISIL. CRISIL is a subsidiary of Standard and Poor (S&P). And so
NIFTY is also called as S&P CNX NIFTY.
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CNX Nifty has shaped up as the
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. The CNX Nifty stocks
represents about 67.27% of the free float market capitalization of the stocks
listed at National
Stock Exchange (NSE)
as on September 30, 2012.
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 NSE's
Capital 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.
The CNX Nifty currently consists of the following 50
major Indian companies.
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S.No.
Company
Name
01
ACC Ltd.
02
Ambuja Cements Ltd.
03
Asian Paints Ltd.
04
Axis Bank Ltd.
05
Bajaj Auto Ltd.
06
Bank of Baroda
07
Bharat Heavy Electricals Ltd.
08
Bharat Petroleum Corporation Ltd.
09
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