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Nifty Next 50

December 31, 2015


The Nifty Next 50 Index comprises of the next rung of liquid securities after those forming part of Nifty 50. It may be useful to think
of the Nifty 50 and the Nifty Next 50 as making up the 100 most liquid stocks in India.
The maintenance of the Nifty 50 and the Nifty Next 50 are synchronized so that the two indices will always be disjoint sets; i.e. stock
will never appear in both indices at the same time.
Nifty Next 50 is computed using free float market capitalization method wherein the level of the index reflects total free float market
value of all the stocks in the index relative to a particular base market capitalization value. Nifty Next 50 Index can be used for a
variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty Next 50 Total Returns Index.

Eligibility Criteria for Selection of


Constituent Stocks
i. For inclusion in the index, the security
should have traded at an average impact
cost of 0.5% or less during the last 6 months
for 90% of the observations for a basket size
of Rs.50 lakhs (Rs.5 million).
ii. Companies forming part of Nifty 50 index
are excluded from the index.
Index
Methodology

iii. The company must have demonstrated a


trading frequency of at least 90 % in the last
six months.
iv. The company should have an investable
weight factor (IWF) of at least 10%.
v. All constituents of the Nifty Next 50 Index
must have a minimum listing record of 6
months.
vi. 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.

Bloomberg:
NIFTYJR Index
Thomson Reuters:
NSMIDCP

Contact Us:
Email: iisl@nse.co.in
Tel: +91 22 26598386
Fax: +91 22 26598120

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 semiannual 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 Govenance:
A professional team at IISL manages
Nifty Next 50 Index. There is a three-tier
governance structure comprising the
Board of Directors of IISL, the Index
Policy Committee, and the Index
Maintenance Sub-Committee.

Nifty Next 50
December 31, 2015

Portfolio Characteristics
Methodology
No. of Constituents
Launch Date
Base Date
Base Value
Calculation Frequency
Index Rebalancing

Statistics
Free Float Market Capitalization
50
January 01, 1997
November 04, 1996
1000
Real-time Daily
Semi-Annually

Sector Representation
Sector
FINANCIAL SERVICES
CONSUMER GOODS
AUTOMOBILE
PHARMA
ENERGY
INDUSTRIAL MANUFACTURING
TELECOM
METALS
FERTILISERS & PESTICIDES
HEALTHCARE SERVICES
SERVICES
IT
CHEMICALS

Weight
(%)
22.27
21.86
11.10
10.28
9.78
6.31
5.62
4.06
2.33
1.97
1.73
1.43
1.25

Returns (%) #

Since
QTD YTD 1 Year 5 Years Inception
1.14 6.96
6.96
10.30
16.97
1 Year

Std. Deviation *
Beta (Nifty 50)
Correlation (Nifty 50)
Fundamentals
P/E
22.14

18.08
0.97
0.86
P/B
2.84

Since
Inception
28.55
17.98
0.90
0.97
0.85
0.85

5 Years

Dividend Yield
1.62

Top 10 constituents by weightage


Companys Name

Weight
(%)

Aurobindo Pharma Ltd.

4.16

Bharti Infratel Ltd.

4.06

Indiabulls Housing Finance Ltd.

3.99

Indian Oil Corporation Ltd.

3.72

Eicher Motors Ltd.

3.65

Britannia Industries Ltd.

3.10

Godrej Consumer Products Ltd.

2.91

Dabur India Ltd.

2.75

LIC Housing Finance Ltd.

2.71

United Spirits Ltd.

2.68

# QTD,YTD and 1 year returns are absolute returns.Returns for greater than one year are CAGR returns.
* Average daily standard deviation annualised
Disclaimer: All information contained herewith is provided for reference purpose only. IISL ensures accuracy and reliability of the above information to the best of its endeavors. However, IISL
makes no warranty or representation as to the accuracy, completeness or reliability of any of the information contained herein and disclaim any and all liability whatsoever to any person for any
damage or loss of any nature arising from or as a result of reliance on any of the information provided herein. The information contained in this document is not intended to provide any
professional advice.