Mumbai:
The National Stock Exchange (NSE) on Friday launched a new stock market index called ‘Nifty Waves Index’ to track the performance of companies in media, entertainment and gaming industry.
According to the NSE factories, the Nifty Waves index consists of 43 companies, which are from all media, entertainment and publishing areas.
These sectors hold 100 percent weight in the index simultaneously. The base value of the index is set to 1,000.
The launch was during the World Audio Visual and Entertainment Summit (Waves) 2025, which is being held in Mumbai from May 1 to May 4.
Speaking at the event, NSE MD and CEO Ashish Kumar Chauhan said, “The Nifty Waves now consists of 43 companies, but in a period it can be 10 or hundred times more that can move forward.”
“This gives us a benchmark to understand the market trends and unlock the full potential of India’s creative economy,” Sri Chauhan said.
Maharashtra Chief Minister Devendra Fadnavis also hosted ‘Waves 2025’ in Mumbai.
“The next important export of India is its imagination – our stories, music, innovation and creative spirit. Through waves, we are building a bridge between our rich cultural heritage and our infinite digital future,” said D Fadnvis.
He said, “I am very happy that ‘Waves 2025’ was held here. The Maharashtra government has signed several mouses and the most important is with NSE.”
He said that the launch of the Nifty Waves Index has provided us a tool to measure success in the field and inspire many more entrepreneurs.
According to NSE, to ensure balance, the weight of each stock in the index is overshadowed at 5 percent and the weight of each stock in the index is determined based on its free-float market capitalization.
Additionally, the index is restructured twice a year and is unbalanced every trimester.
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