Mumbai, March 11 (IANS). The new Sectoral Index Nifty Chemicals Index has been launched by the National Stock Exchange (NSE) on Tuesday.
According to the official statement of the NSE, this index will track the performance of the chemical sector shares under the Nifty 500 index.
The Nifty Chemicals Index will include the top 20 stocks of the chemical sector, which will be selected on the basis of their six-month average free-float market capitalization.
The statement said that chemical stocks trading in the derivative segment of NSE will be given priority in this index.
The weightage of each stock in the index will be determined by its free-float market capitalization. The weightage of each stock will be limited to 33 percent to ensure balance. At the same time, the joint weightage of the top three stocks will be limited to 62 percent.
This new index will serve as a benchmark for assets managers and will possibly be tracked by passive investment funds such as exchange traded funds (ETFs), index funds and structured products.
The base date for this index has been set on April 1, 2005, the base value of which is 1,000. In the financial index, the base date serves as an important point to track changes in index value over time.
Earlier, NSE has taken a big decision regarding the expiry of Future and Option (F&O) contracts. Now the expiry of all NSE indexes including Nifty, Bank Nifty will be on the ‘last Monday of the month’.
The NSE said that the decision would be effective from April 3, 2025.
Apart from this, the weekly expiry of Nifty from NSE has been shifted from Thursday to Monday. Also, the exchange has shifted the Nifty quarter and half -yearly contracts from Thursday to Monday.
At present, the expiry of F&O contracts of all indices of NSE takes place on Thursday.
-IANS
ABS/
