New Delhi [India], June 17 : NSE Indices Limited, the index services subsidiary of the National Stock Exchange (NSE) has expanded its portfolio by introducing 11 new sector-specific indices, as per a statement by NSE Indices.
NSE Indices Limited on Tuesday announced the launch of 11 new sectoral indices covering a range of industries including power, retail, NBFC and more.
According to the release, the newly introduced indices are: Nifty Power, Nifty Capital Goods, Nifty Telecommunications, Nifty Construction, Nifty Consumer Services, Nifty Commercial & Transport Services, Nifty Retail, Nifty Hospitals, Nifty NBFC, Nifty Housing Finance, and Nifty Insurance.
"NSE Indices Limited today launched 11 new sectoral indices namely:1) Nifty Power 2) Nifty Capital Goods 3) Nifty Telecommunications 4) Nifty Construction 5) Nifty Consumer Services 6) Nifty Commercial & Transport Services 7) Nifty Retail 8) Nifty Hospitals 9) Nifty NBFC 10) Nifty Housing Finance 11) Nifty Insurance," the release added.
With the addition of these indices, the total number of sectoral indices offered by NSE Indices has increased to 34.
"The launch of these 11 indices takes the total count of sectoral indices to 34, enhancing the breadth and depth of sectoral representation across India's economy," the release said.
According to the release, the expanded range of sector indices covers more industries across the economy, including both traditional sectors and newer, fast-growing areas.
"This expanded suite of sector indices offers a more comprehensive and granular coverage across established and emerging sectors," it added.
The release further added that the new indices are expected to serve as performance benchmarks for asset managers and may also be used by passive investment products such as Exchange Traded Funds (ETFs), index funds, and structured products.
"The new indices are expected to act as benchmarks for asset managers and be reference indices tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products," the release said.