The National Stock Exchange (NSE) on October 22, 2024, notified regarding the launced Nifty Top 20 Equal Weight Index.
NSE Indices Limited, the index services arm of NSE, has introduced the Nifty Top 20 Equal Weight index. This new index tracks the performance of the top 20 companies from the Nifty 50, selected based on free-float market capitalization, with equal weighting given to all stocks. The index has a base date of March 2, 2006, and a base value of 1000. Reconstitution of the index takes place semi-annually, and weights are rebalanced quarterly. It is designed to serve as a benchmark for asset managers and is likely to be used by passive funds, such as ETFs, index funds, and structured products.
