NSE Indices Ltd, the index services subsidiary of the National Stock Exchange (NSE), has introduced two new thematic indices aimed at tracking emerging segments of the Indian equity market. The newly launched indices are Nifty Sugar & Ethanol and Nifty Small Finance Banks & Microfinance Institutions.
The launch expands NSE Indices’ thematic offerings and provides investors with benchmarks focused on specific sectors that have gained increasing relevance in India’s economic and financial landscape.
The Nifty Sugar & Ethanol Index has been designed to track the performance of 15 stocks selected from the FMCG sector that are directly engaged in the manufacturing or production of sugar and ethanol. The index is expected to serve as a gauge for companies benefiting from the growing role of ethanol blending and related value chains.
Meanwhile, the Nifty Small Finance Banks & Microfinance Institutions Index will monitor the performance of the most liquid small finance banks and microfinance institutions listed on the NSE. The index offers a focused view of businesses operating in the financial inclusion segment, which caters to underserved and rural populations.
According to NSE Indices, the weight of each constituent stock in both indices will be determined based on its free-float market capitalization, with a maximum cap of 15% per security. Both indices have a base date of March 31, 2021, and a base value of 1,000.
The indices will undergo semi-annual reconstitution and quarterly rebalancing in March, June, September and December to ensure they continue to reflect market developments.
NSE Indices said the new benchmarks are expected to be used by asset managers and market participants as reference indices for investment products such as exchange-traded funds (ETFs), index funds and structured products.
The launch reflects growing investor interest in sector-specific investment themes and provides additional tools for tracking performance in specialized areas of the Indian market.
Source: This article is based on an official press release issued by NSE
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