NSE launches Nifty Waves Index; Gift Nifty hits record turnover in April

Priority Jewels files for IPO with Sebi; Nifty Waves Index debuts with 43 media and entertainment stocks; Gift Nifty posts record $100.93 bn turnover in April

NSE launches Nifty Waves Index 

The National Stock Exchange (NSE) on Friday introduced the Nifty NSE Waves Index at the World Audio Visual & Entertainment Summit (WAVES). This index comprises 43 constituents from the media, entertainment and gaming sectors, including Nazara Technologies, PVR Inox, Hathway Cable & Datacom, Sun TV, Zee Entertainment, Saregama India and Network18 Media & Investments. Each stock is capped at a 5 per cent weightage. The index, with a base date of 1 April 2005, will be rebalanced quarterly, with inclusions and exclusions reviewed semi-annually.

 

Gift Nifty records highest monthly turnover in April

 

Gift Nifty, a benchmark index traded on NSE’s international exchange in GIFT City, Gandhinagar, achieved a record-high monthly turnover of $100.93 billion in April, surpassing its previous peak of $100.7 billion in September 2024. Traded for nearly 22 hours daily, the index serves as a key indicator for domestic indices’ opening based on global cues. Full-scale operations began in July 2023, following its earlier iteration as SGX-Nifty on the Singapore Exchange. Since its launch, Gift Nifty has recorded a cumulative volume of over 41.18 million contracts and a total turnover of $1.83 trillion through April 2025, according to NSE.

 

 

Priority Jewels files for IPO

 

Mumbai-based Priority Jewels has filed its draft red herring prospectus (DRHP) with market regulator the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The IPO will be entirely a fresh issue of up to 54 million shares. Priority Jewels is into designing, manufacturing and selling a range of lightweight, affordable diamond-studded gold and platinum fine jewellery.