Many sub-indexes are redefined and for that many stocks are either added or subsequently many stocks removed from the indexes. The agrochemical business UPL will be replaced by non-banking finance company Shriram Finance in the benchmark Nifty 50 index as of March 28, according to an announcement made by the National Stock Exchange (NSE) on Wednesday. The exchange stated that the action is a component of the regular evaluation of broad market indexes. In the Nifty50 index, Shriram Finance has taken the place of UPL due to its higher 6-month average free-float market capitalization.
What is Nifty next 50 ?
The Nifty Next 50 is an index that represents the performance of the next 50 stocks that come after the top 50 stock in the order of the float market capitalization, and they can even be potential candidates for inclusion in Nifty 50 in the future.
NSE Indices stated in a statement, “Shriram Finance has been included in the Nifty 50 index because it has the highest 6-month average free float market capitalization within the eligible universe.” It has been added to this modification in lieu of UPL Ltd.
These businesses entered the market
Adani Power, Indian Railway Finance Corporation, Jio Financial Services, Power Finance Corporation, and REC Limited are among the firms that are part of the Nifty Next 50 index. Rec Ltd.
Conversely, the Nifty list now includes Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care, and Shriram Finance. is no longer included in the Next 50 index.
A number of indexes, including the Nifty 500 and Nifty 100, have undergone modifications in addition to the Nifty 50 and Nifty Next 50. Many sectors indexes, including those for pharmaceuticals, real estate, media, FMCG, autos, financial services, and consumer durables, have also seen changes.
As part of its routine evaluation, the NSE indexes Limited’s Index Maintenance Sub-Committee (Equity) has chosen to reallocate shares among different indexes. The aforementioned modifications will take effect on March 28, 2024.
FAQ:
1.What Factors affect the Nifty next 50 index ?
Just like the broader Indian stock market, the performance of Nifty Next 50 depends on the growth of individual companies, industry trends, regulatory changes, and market sentiment. Other than these, rare events, earnings, news, and other factors can also influence the performance onf Nifty Next 50.
2.What are the advantages of Nifty Next 50 Index ?
Just like the broader Indian stock market, the performance of Nifty Next 50 depends on the growth of individual companies, industry trends, regulatory changes, and market sentiment. Other than these, rare events, earnings, news, and other factors can also influence the performance onf Nifty Next 50.
3. Is NIFTY Next 50 good?
While NIFTY 50 and NIFTY 100 are quite similar in terms of their performance, the Next 50 index is an outlier that carries relatively higher risk and has the potential to deliver better returns.
4.What is difference between Nifty 50 and NIFTY Next 50?
The stocks in the Nifty 50 are big players, typically large-cap stocks with a massive market value. Nifty Next 50: On the other hand, the Nifty Next 50 includes mid-cap companies that rank from 51 to 100 in terms of full market cap.
5. Is Nifty 50 halal or haram?
Trading in shares on the stock market is absolutely fine from an Islamic view point. Unfortunately, that there is a common perception among Muslims that purchase and sale of shares in the capital market is akin to gambling and hence Islam prohibits it – This is not true.
Also read :
Garena Free Fire Max redeem codes for February 29, 2024 declared: Win free in-game goodies