Major laggards on the 50-stock Nifty were IndusInd Bank, Tata Motors, Bharti Infratel, TCS and Yes Bank, closing between 3.45 and 1.87 per cent lower.
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Domestic stock markets reversed early gains on Friday amid pressure in IT stocks. The Sensex shed as much as 209 points to hit 35,897 by afternoon, while the Nifty declined 63.95 points to 10,757. IT, auto and energy stocks dragged the markets lower, however buying in FMCG and metal shares kept the downside in check. However, Tata Consultancy Se...
Domestic stock markets finished lower on Thursday, snapping four days of gains. The Sensex shed 106.41 points to end at 36,106.50, while the Nifty settled at 10,821.60, down 33.55 points - or 0.3 per cent - from the previous close. Weakness in banking, financial services and energy stocks pulled the markets lower.
TCS is due to release its earnings for the October-December quarter after markets hours.
Rising for a fourth consecutive session, domestic stock markets closed on a positive note on Wednesday tracking strength in global peers. The BSE benchmark index ended at 36,212.91, up 0.64 per cent or 231.98 points from the previous close, while the broader NSE benchmark Nifty50 finished with a gain of 53 points or 0.49 per cent at 10,855.15. Adva...
Domestic stock markets started Wednesday's session on a strong note tracking gains in Asian peers on hopes of a US-China trade deal. The Sensex jumped as much as 269 points to touch 36,250, while the Nifty advanced 68 points to 10,870, supported by buying in information technology stocks. Sharp losses in metal stocks in afternoon limited the upside...
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S&P CNX Nifty is a well diversified 50 stock index accounting for 21 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds. S&P CNX Nifty 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 focused upon the index as a core product. IISL has a Marketing and licensing agreement with Standard & Poor's (S&P), who are world leaders in index services. The traded value for the last six months of all Nifty stocks is approximately 44.89% of the traded value of all stocks on the NSE Nifty stocks represent about 58.64% of the total market capitalization as on March 31, 2008. Impact cost of the S&P CNX Nifty for a portfolio size of Rs.2 crore is 0.15% S&P CNX Nifty is professionally maintained and is ideal for derivatives trading Source : NSE
S&P CNX Nifty is computed using market capitalization weighted method, wherein the level of the index reflects the total market value of all the stocks in the index relative to a particular base period. The method also takes into account constituent changes in the index and importantly corporate actions such as stock splits, rights, etc without affecting the index value. Source : NSE
The constituents and the criteria for the selection judge the effectiveness of the index. Selection of the index set is based on the following criteria: Liquidity (Impact Cost) For inclusion in the index, the security should have traded at an average impact cost of 0.50% or less during the last six months for 90% of the observations for a basket size of Rs. 2 Crores. Impact cost is cost of executing a transaction in a security in proportion to the weightage of its market capitalisation as against the index market capitalisation at any point of time. This is the percentage mark up suffered while buying / selling the desired quantity of a security compared to its ideal price (best buy + best sell) / 2 Floating Stock Companies eligible for inclusion in S&P CNX Nifty should have atleast 10% floating stock. For this purpose, floating stock shall mean stocks which are not held by the promoters and associated entities (where identifiable) of such companies. Others a) A company which comes out with a IPO will be eligible for inclusion in the index, if it fulfills the normal eligiblity criteria for the index like impact cost, market capitalisation and floating stock, for a 3 month period instead of a 6 month period. b) Replacement of Stock from the Index: A stock may be replaced from an index for the following reasons: i. Compulsory changes like corporate actions, delisting etc. In such a scenario, the stock having largest market capitalization and satisfying other requirements related to liquidity, turnover and free float will be considered for inclusion. ii. When a better candidate is available in the replacement pool, which can replace the index stock i.e. the stock with the highest market capitalization in the replacement pool has at least twice the market capitalization of the index stock with the lowest market capitalization. With respect to (2) above, a maximum of 10% of the index size (number of stocks in the index) may be changed in a calendar year. Changes carried out for (2) above are irrespective of changes, if any, carried out for (1) above. Source : NSE