The index services subsidiary of the National Stock Exchange — NSE Indices — recently launched two new sectoral indices — Nifty Consumer Durables and Nifty Oil & Gas.
Each index consists of top 15 companies from their respective industries within the Nifty 500 index. The stocks are selected based on their average free-float market capitalisation, it said in a release.
The weight of each stock in the respective index is based on its free-float market capitalisation. The single stock weight shall be capped at 33 per cent and the weights of top three stocks cumulatively should not be more than 62 per cent at the time of rebalancing.
