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NSE Revises Stock Selection Criteria for Nifty Indices
Last Updated: 10th December 2022 - 12:55 pm
On 23 August, the NSE Index committee made some significant changes to the criteria and the composition of the various capitalization indices and sectoral indices. There are two very significant shifts that the Index Committee has made in the index criteria, effective 30-Sep.
The first big shift is with respect to the eligibility for inclusion of REITs and INVITs in the indices. Currently, only equity shares are eligible to be included in the index. Going ahead, even REITs and INVITs have been declared as eligible securities to be included in indices. This will bring a lot of global passive funds to invest in REITs and INVITs.
The second big change is to give a better representation to the pharma sector in the sectoral index. Currently, only the top-10 pharma stocks are considered for inclusion in the pharma index based on 6-month average free-float capitalization. That is now being modified to 20 pharma stocks to give a wider choice for inclusion in the pharma index.
Major changes in key indices
There will be no changes in the Nifty 50 Index composition as part of this semi-annual review. However, other indices are likely to see shifts as captured in the table.
|
NSE Index |
Number of |
|
Nifty Next 50 |
05 |
|
Nifty 500 |
23 |
|
Nifty 100 |
05 |
|
Nifty Midcap 150 |
20 |
|
Nifty Small Cap 250 |
32 |
|
Nifty Midcap 50 |
10 |
|
Nifty Midcap 100 |
10 |
|
Nifty Small Cap 50 |
16 |
|
Nifty Small Cap 100 |
24 |
|
Nifty 200 |
06 |
|
Nifty Large-Midcap 250 |
15 |
|
Nifty Mid-Small-cap 400 |
28 |
|
Nifty Microcap 250 |
40 |
|
Nifty FMCG |
01 |
|
Nifty Healthcare |
04 |
|
Nifty IT |
01 |
|
Nifty Media |
03 |
For a detailed list you can visit the NSE website at the following: https://www.niftyindices.com/Press_Release/ind_prs23082021.pdf
All the above changes will be effective from September 30th, 2021.
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