The National Stock Exchange (NSE) Indices on October 15, 2024, launched Nifty Top 15 Equal Weight Index.
The following has been stated:
• The Nifty Top 15 Equal Weight aims to track the performance of top 15 companies selected based on free-float market capitalization from the Nifty 50.
• All stocks in the index are equally weighted. The base date for the index is March 02, 2006, and the base value is 1000. The index is reconstituted on a semi-annual basis and weights are rebalanced on a quarterly basis.
• The index is expected to act as a benchmark for asset managers and a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products.
