INDIA: NSE Indices Launches Nifty Midcap Select Index

Wednesday September 15 2021

On 14^th September 2021, the National Stock Exchange (NSE) index services subsidiary, NSE Indices announced that it had launched a new index – Nifty Midcap Select index.

The Nifty Midcap Select index aims to track the performance of a portfolio of 25 liquid midcap stocks selected from the Nifty Midcap 150 index based on availability for trading in the F&O segment, market cap and average daily turnover. The stock weights are based on free-float market capitalization.

The launch of the Nifty Midcap Select index provides targeted coverage of liquid midcap stocks. It is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds, structured products and by derivatives contracts.

The base date for the index is October 03^rd, 2005 and base value is 1000. Index reconstitution will be done on a semi-annual basis.

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