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NSE to introduce derivatives on Nifty Next 50 index from April 24, check details here
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The Nifty Next 50 Index comprises 50 companies from the Nifty 100, excluding those in the Nifty 50. It is also known as the Junior Nifty.
The National Stock Exchange of India (NSE) is set to launch derivatives contracts for its widely followed Nifty Next 50 index from Wednesday, April 24.
The introduction of derivatives by the NSE comes following approval from the Securities and Exchange Board of India (SEBI).
These derivatives will include three serial monthly index futures and index options contracts, all settled in cash, with expiry on the last Friday of each expiry month.
The addition of derivatives linked to the Nifty Next 50 index will complement the existing suite of index derivatives. This index bridges the gap between the Nifty 50 index, which includes top large and liquid stocks, and the Nifty Midcap Select index, which features the leading large and liquid mid-cap stocks.
The Nifty Next 50 Index comprises 50 companies from the Nifty 100, excluding those in the Nifty 50. It is also known as the Junior Nifty.
As of March 2024, the Nifty Next 50 Index was predominantly represented by the financial services sector, accounting for 23.76%, followed by the capital goods sector at 11.91% and consumer services at 11.57%. The index was launched on January 1, 1997, with a base date of November 3, 1996, and a base value of 1000.
As of March 29, 2024, the market capitalisation of index constituents reached ₹70 lakh crore, constituting approximately 18% of the total market capitalisation of NSE-listed stocks.
Additionally, the combined daily average turnover of these constituents amounted to ₹9,560 crore, representing roughly 12% of the cash market turnover during FY24.
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