The NSE S&P CNX Nifty 50 index is a well diversified 50 stock index accounting for 24 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds.
Technical Analysis of Indian stock market NSE S&P CNX Nifty 50 Index
NSE S&P CNX Nifty 50 is owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL. IISL is India's first specialised company focussed upon the index as a core product. IISL have a consulting and licensing agreement with Standard & Poor's (S&P), who are world leaders in index services.
The main features of the NSE S&P CNX Nifty 50 index are:
- The average total traded value for the last six months of all Nifty stocks is approximately 77% of the traded value of all stocks on the NSE
- Nifty stocks represent about 61% of the total market capitalisation as on August 31, 2004.
- Impact cost of the S&P CNX Nifty for a portfolio size of Rs.5 million is 0.10%
- S&P CNX Nifty is professionally maintained and is ideal for derivatives trading.
