IISL
Launches Nifty Private Bank Index
Index
aims to reflect performance of private sector banks
India
Index Services & Products Ltd. (IISL), a NSE group company, in its
continuous efforts to expand the suit of indices for Indian capital market, has
today launched index that is designed to reflect market performance of private
sector banks in India. The index will track 10 largest private sector banks
listed on NSE.
“The
index will complement the existing Nifty Bank and Nifty PSU Bank indices and
provide the investors with gamut of banking sector indices catering to
different investment needs” said Mr. Mukesh Agarwal, CEO, IISL.
Nifty
Private Bank index is calculated using free float market capitalization method
and stock weights are capped at 25%. The base date of this index is April 01,
2005 and base value is 1000. The index will be maintained by IISL and
calculated on an end-of-day basis.
The closing values of Nifty Private Bank
index will be available on
The
Nifty Private Bank Index will be available for licensing for the launch of
financial products such as exchange traded fund and structured products.
About
NSE:
In
its 20 year history, NSE has transformed the capital market, based on
technology, innovation, high standards of governance and management practices.
NSE's business practices and high levels of integrity have earned it the trust
of the financial markets worldwide.
Besides being a platform of choice for all
exchange traded financial products in India, NSE’s flagship index, the Nifty
50, has become a benchmark national level economic parameter. Since inception,
the exchange has been covered extensively by global media and has won many
accolades as recognition of this remarkable journey.
About IISL:
India Index Services & Products
Ltd. (IISL), a NSE group company, was setup in May 1998 to provide a variety of
indices and index related services for the capital markets. IISL is India's
first specialised company focused upon the index as a core product. IISL
maintains more than 100 equity indices comprising broad-based benchmark
indices, sectoral indices and customised indices. IISL also maintains fixed
income indices based on Government of India bonds. Many investment and risk
management products based on IISL indices have been developed in the recent
past, within India and abroad. These include index based derivatives traded on
NSE, Singapore Exchange Ltd. (SGX), Chicago Mercantile Exchange Inc. (CME) and
Osaka Exchange Inc. (OSE) and a number of index funds and exchange traded
funds. The flagship 'Nifty 50' index is widely tracked and traded as the
benchmark for Indian Capital Markets.
For media contact:
Arindam Saha
Head - Corporate Communications
Mo: 099300 19202 | Direct:
022 – 2659 8164
Twitter: @NSEIndia
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