Nifty Bank Stocks List and its Weightage in Index

Nifty Bank Stocks List and its Weightage in Index

Nifty Bank Stocks List and its Weightage in Index

Nifty Bank Stocks List and its Weightage in Index

Nifty Bank Stocks List and its Weightage in Index

What is Bank Nifty

The Nifty Bank Index comprises the most liquid and large Indian banking stocks. It provides investors and market intermediaries a benchmark that reflects the capital market performance of Indian banks. The index comprises a maximum of 12 companies listed on the National Stock Exchange of India (NSE). Nifty Bank Index is calculated using the free float market capitalization method. Nifty Bank Index can be used for various purposes such as benchmarking fund portfolios, launching index funds, ETFs and structured products.

Bank Nifty Stocks List and its Weightage (31st March 2022)

Sl No Bank Name NSE Symbol Ownership Weightage
1 HDFC Bank Ltd. HDFCBANK Private 28.49%
2 ICICI Bank Ltd. ICICIBANK Private 22.45%
3 Axis Bank Ltd. AXISBANK Private 11.59%
4 Kotak Mahindra Bank Ltd. KOTAKBANK Private 11.39%
5 State Bank of India SBIN Government 11.12%
6 IndusInd Bank Ltd. INDUSINDBK Private 5.29%
7 AU Small Finance Bank Ltd. AUBANK Private 2.39%
8 Bandhan Bank Ltd. BANDHANBNK Private 1.81%
9 Bank of Baroda BANKBARODA PSU 1.81%
10 Federal Bank Ltd. FEDERALBNK Private 1.69%
11 IDFC First Bank Ltd. IDFCFIRSTB Private 1.07%
12 Punjab National Bank PNB PSU 0.91%

 

Eligibility Criteria for Selection of Constituent Stocks

Companies should form part of NIFTY 500 at the time of review. In case, the number of eligible stocks representing a particular sector within NIFTY 500 falls below 10, then deficit number of stocks shall be selected from the universe of stocks ranked within top 800 based on both average daily turnover and average daily full market capitalization based on previous six months period data used for index rebalancing of NIFTY 500.

Companies should form a part of the banking sector. iii. The company’s trading frequency should be at least 90% in the last six months.

The company should have a listing history of 6 months. A company which comes out with an IPO will be eligible for inclusion in the index, if it fulfills the normal eligibility criteria for the index for a 3 month period instead of a 6 month period. v. Companies that are allowed to trade in F&O segment are only eligible to be constituent of the index.

Final selection of 12 companies shall be done based on the free-float market capitalization of the companies. vii. Weightage of each stock in the index is calculated based on its free-float market capitalization such that no single stock shall be more than 33% and weightage of top 3 stocks cumulatively shall not be more than 62% at the time of rebalancing.

Index Re-Balancing

Index is re-balanced on semi-annual basis. The cut-off date is January 31 and July 31 of each year, i.e. For semi-annual review of indices, average data for six months ending the cut-off date is considered. Four weeks prior notice is given to market from the date of change.

Index Governance

A professional team manages all NSE indices. There is a three-tier governance structure comprising the Board of Directors of NSE Indices Limited, the Index Advisory Committee (Equity) and the Index Maintenance Sub-Committee.

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Apr 11, 2022 - Posted by Mukesh Saini - No Comments
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