NSE launches Digital Index
- NSE Indices the subsidiary company of National Stock Exchange (NSE) has launched Nifty India Digital Index.
- The Nifty India Digital Index is a sector specific index which aims to track the performance of a portfolio of stocks that broadly represent the Digital theme within basic industries like software, e-commerce, IT enabled services, industrial electronics and telecom services companies.
- The Nifty Digital Index will include stocks of 30 largest companies in the chosen basic industries sectors.
- The 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 base date for the index is April 01, 2005 and base value is 1000. Index reconstitution will be done on a semi-annual basis.
What are Stock Market Index/Indices
Types of Index
There are different types of Indices based on the kind of stocks which are selected to create indices.
Some of the important ones are as follows :
In India there are two benchmark Indices
2. Indices created based on market capitalization of companies, such as BSE Midcap and BSE Smallcap.
3. Sector-specific indices like Nifty FMCG, Nifty Bank Index.
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