After eliminating the NIFTY 50 firms, the NIFTY Next 50 weightage reflects 50 companies from the NIFTY 100.
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The level of the index reflects the entire free-float market value of all the stocks in the index relative to a given base market capitalization value, as calculated using the free-float market capitalization technique. The next 50 can be used to benchmark fund portfolios, establish index funds, ETFs, and structured products, among other things.
- The index has a base value of 1000 and was created on November 3, 1996.
- The index is designed to track the performance of the following 50 large-cap businesses in the NIFTY 100 based on free-float market capitalization after the top 50.
- The securities and weights are chosen depending on their free-float market capitalization.
- As of December 31, 2018, the Next 50 Index represented around 10% of the free-float market capitalization of the stocks listed on the NSE.
- The six-month average daily turnover of all index members was roughly 13% of the six-month average daily turnover of all NSE-listed equities as of December 2018.
The top 50 stocks based on the free-float market cap are represented by NIFTY 50 stocks, and the ‘next 50′ stocks are represented by NIFTY Next 50 stocks, which together make up the large-cap index –’NIFTY 100,’ where, subject to index criteria, the top 50 stocks based on the free-float market cap are represented by NIFTY 50 stocks and the ‘next 50’ stocks are represented by NIFTY Next 50 stocks.
Here is the nifty next 50 companies list,
The NIFTY Next 50 offers a well-diversified portfolio across sectors, with 76 percent exposure to the top five sectors. The index has exposure to 14 sectors in total, with 11 of them having individual weights of less than 10% apiece. As a result, the NIFTY Next 50 index strategy is a well-diversified index strategy that may appeal to proponents of ‘investment diversification.’