NSE launches Nifty500 Equal Weight index; base date April 1, 2005

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

It comes as a second consecutive launch by the NSE Indices. On Thursday, NSE Indices had launched a new thematic index — & New Age index — which will track the performance of companies forming a part of the EV ecosystem or are involved in the development of new-age automotive vehicles or related .

In a separate press release issued on Thursday, NSE said it was ’s first- ever Index. "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," the release said.

The base date for the index is April 2, 2018, and the base value is 1000 and the index will be reconstituted semi-annually and rebalanced on a quarterly basis.

Commenting on the development, Mukesh Agarwal, CEO of NSE Indices, said, “Nifty EV & New Age Automotive index aligns with NSE’s vision to provide innovative indices in line with market trends. The launch of the Nifty EV & New Age Automotive index will facilitate relation of products, which will create opportunity for asset managers to invest in the electric vehicle and new age automotive market thereby providing an vehicle to investors."

Currently there are 17 thematic indices on the NSE viz. Nifty Commodities, Nifty India Consumption, Nifty CPSE, Nifty Energy and Nifty Infrastructure.

Apart from thematic indices, NSE operates Broad Market Indices (like Nifty, Nifty Next 50, Nifty 100, Nifty 100 etc) and 15 sectoral Indices including Nifty Bank, Nifty IT and Nifty Auto.

It also operates Strategy Indices and Fixed Income Indices.

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