NSE Indices launched the Nifty Next 100 index for asset managers
Amid the expansion of passive investment products in India's capital market, NSE Indices Limited has launched a new broad-based index called Nifty Next 100. This index is designed to track the performance of a selected portfolio of 100 stocks and is expected to serve as a benchmark for ETFs, index funds, and structured products.
Highlights
- NSE Indices Limited today launched the Nifty Next 100 index, which includes a total of 100 stocks from Nifty Next 50 and Nifty Midcap 150.
- This index is free-float market cap weighted, with a base date of 1 October 2010 and a base value of 1000; rebalancing will occur in March and September.
- The new index will serve as a benchmark for asset managers, and passive funds can track it through ETFs, index funds, and structured products.
This article was translated from the original. Read the original version by our correspondent here.
Index Composition and Rebalancing
According to NSE India, NSE's index services subsidiary NSE Indices Limited today launches Nifty Next 100, which is designed to track the performance of a portfolio of 100 stocks comprising 50 stocks from Nifty Next 50 and the top 50 stocks from Nifty Midcap 150. These stocks are selected based on the 6-month average free-float market capitalization, and the index itself is free-float market cap weighted.The base date for this index is 1 October 2010 and the base value is set at 1000. The index is reconstituted twice a year, in March and September.
Potential Use for Passive Investment Products
The company states that the new index is expected to serve as a benchmark for asset managers, and passive funds can track it as ETFs, index funds, and structured products. This further expands the range of investment benchmarks available under the Nifty brand in the Indian market.NSE Indices Limited, formerly known as India Index Services & Products Ltd., is a subsidiary of NSE and provides various indices and related services for the capital market. The company owns and manages the Nifty brand indices of NSE, including Nifty 50, which are used as the basis for investment products such as derivatives, index funds, and exchange-traded funds in India and abroad.
Our previous report covered in detail the launch of Nifty Next 100 by NSE Indices Limited, highlighting the broad equity exposure offered through 100 stocks selected from Nifty Next 50 and Nifty Midcap 150. That article also discussed the index's free-float market cap weighting, base date of 1 October 2010/1000 base value, semi-annual rebalancing in March and September, and its potential benchmark use for ETFs, index funds, and structured products.
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