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NIFTY — National Stock Exchange Fifty
NIFTY Full-Form refers to National Stock Exchange Fifty. NIFTY is the benchmark SME or stock market index of the Indian National Stock Exchange. The IEL or Indian Index Services and Products own as well as manage NIFTY IEL is a subsidiary of the NSE Investment Corporation Ltd and is entirely owned by it. It has a licensing and marketing agreement with S&P or Standard & Poor’s to co-brand the equity indices until the year 2013.
NIFTY has become the largest Indian financial product. Its ecosystem consists of offshore and onshore ETF or Exchange Traded Funds, exchange-traded options at CME and SGX (abroad) and at NSE (India), and some additional offshore OTC derivatives and index funds. It is the most active trade contract in the world. The surveys of FIA, IOMA and VIFE endorse the leadership positions of the NSE.
Around twenty-two sectors of the economy in India are covered by NIFTY It provides exposure to the Indian market to the investment managers in a single portfolio. The NIFTY index share of the market capitalization of the NSE fell from sixty-five per cent to twenty-nine per cent from 2008 to 2012. This condition arose due to the rise of NIFTY Bank, and NIFTY IT. A weight-age of 29.70% is given by NIFTY to the financial services, whereas it gives a weight-age of 0.73% to industrial manufacturing. It does not offer any weight-age to the Indian agricultural sector.
Some of the famous companies that are a part of the NIFTY index are Asian Paints Ltd., Bajaj Auto Ltd., Bharat Heavy Electricals Limited, Bharti Airtel Ltd., Cipla Ltd., GAIL (India) Ltd., HCL Technologies Ltd., ICICI Bank Ltd., Infosys Ltd., Maruti Suzuki India Ltd., Punjab National Bank, State Bank of India, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Yes Bank Ltd., Idea Cellular Ltd., Larsen & Toubro Ltd., etc.