The National Stock Exchange (NSE) Indices on October 25, 2024, launched the Nifty India New Age Consumption Index.
The following has been stated:
• The Nifty India New Age Consumption index tracks the performance of stocks from the Nifty 500 that cater to the discretionary and aspirational spending of the new generation. It also provides insights into the evolving preferences that define modern consumer behaviour in a rapidly changing market by focusing on basic industries such as Passenger Cars & Utility Vehicles, 2/3 Wheelers, Gems, Jewellery and Watches, Hotels & Resorts, Financial Technology (Fintech) etc.
• The index comprises a maximum of 75 stocks. The weight of the stocks in the index is based on their free-float market capitalization. Sector weights are capped at 25% each and stock weights are capped at 5% each.
• The base date for the index is April 01, 2005, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis.
• The new 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.
