NSE Indices launches Nifty Top 15 Equal Weight Index

National Stock Exchange of India (NSE) announced the launch of the Nifty Top 15 Equal Weight. The index is designed to track the performance of the top 15 companies selected based on free-float market capitalization from the Nifty 50.

All stocks in the Nifty Top 15 Equal Weight index are equally weighted, meaning that each stock has the same impact on the index's performance. This is in contrast to traditional market capitalization-weighted indices, where larger companies have a greater impact on the index's performance.

The base date for the Nifty Top 15 Equal Weight index is 2 March 2006, and the base value is 1000. The index is reconstituted on a semi-annual basis and weights are rebalanced on a quarterly basis. The index reported a total return of 18.17% CAGR in five years. In the past year, the index rose 25.35%.

The Nifty Top 15 Equal Weight index is expected to act as a benchmark for asset managers and a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds and structured products.

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