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NSE Indices launched Nifty India Digital Index

The top constituents by weightage in the index now are Indian Railway Catering and Tourism, Bharti Airtel, Infosys, Wipro, TCS, Tata Communications, Info Edge, HCL Technologies, Tech Mahindra and Indiamart Intermesh.  (REUTERS)Premium
The top constituents by weightage in the index now are Indian Railway Catering and Tourism, Bharti Airtel, Infosys, Wipro, TCS, Tata Communications, Info Edge, HCL Technologies, Tech Mahindra and Indiamart Intermesh.  (REUTERS)

  • The index is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of ETFs, index funds and structured products, said NSE Indices

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NSE’s index services subsidiary, NSE Indices Limited recently launched a new index – Nifty India Digital index. 

The Nifty India Digital Index aims to track the performance of portfolio of stocks that broadly represent the Digital theme within basic industries like software, e-commerce, IT enabled services, industrial electronics and telecom services companies. As per NSE Indices, the largest 30 stocks from eligible basic industries are chosen based on their 6-month average free-float market capitalization as on the cutoff dates at the end of January and July. The weight of the stocks in the index is based on their free-float market capitalization. Sector weights are capped at 50 per cent each and stock weights are capped at 7.50 per cent each.

 “Digitalization is happening rapidly and is touching every aspect of our lives. The Nifty India Digital index aims to capture the performance of companies exposed to the Digital theme, a theme which will likely continue to increase in importance in the future." said Mukesh Agarwal, CEO – NSE Indices Ltd.

The index is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products, said NSE Indices in a press release.

The base date for the index is April 01, 2005 and base value is 1000. Index reconstitution will be done on a semi-annual basis.

The top constituents by weightage in the index now are Indian Railway Catering and Tourism, Bharti Airtel, Infosys, Wipro, TCS, Tata Communications, Info Edge, HCL Technologies, Tech Mahindra and Indiamart Intermesh. 

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