Add this company to a WatchList Select Watchlist. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The base value of the index has been set at and a base capital of Rs.
Domestic stock markets swung between gains and losses after starting Thursday's session on a positive note. The benchmark indices moved in a range amid weak global cues and outflows by institutional investors, according to analysts.
Vodafone Idea shares hit their lowest in three weeks, dropping as much as 5. Reliance Jio Infocomm Ltd added This marks the first-ever three-way merger in the country's banking sector.
The merged entity will become the third largest bank in the country, after government-owned State Bank of India and private sector lende It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds. IISL is India's first specialised company focused upon the index as a core product. Equitymaster Agora Research Private Limited. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
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As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. It is supposed to reflect the health of the listed universe of Indian companies, and hence the broader economy, in all market conditions. Officially called the Nifty50, the index is computed using the free float market capitalisation method, which is essentially the count of shares in active circulation in the market at any given point of time.
The Nifty, just like BSE benchmark Sensex, is today used for benchmarking portfolios and returns of mutual fund schemes and launching index funds. The Nifty index was launched on April 22, , with a base value of 1, counted from November 3, IISL has a three-tier governance structure comprising the board of directors, the index policy committee and the index maintenance sub-committee. IISL rebalances the Nifty index semi-annually.
The cut-off dates for the semi-annual review of the index are January 31 and July 31 each year. Average data for the six months ending the cut-off date is considered. The exchange notifies any change in the index four weeks before such changes take effect. There are defined eligibility criteria for selection of Nifty constituent stocks. The liquidity of a stock is measured by the market impact cost, which is essentially the cost involved in transacting a stock.
For a stock to qualify for inclusion in the Nifty50, it must have traded at an average impact cost of 0. Besides, the company must have a listing history of at least six months.