NIFTY Next 50

Last updated
NSE NIFTY NEXT 50
Nifty Next 50.png
Performance of the NIFTY NEXT 50 index between 2000 and 2023
Foundation24 December 1996(27 years ago) (24 December 1996)
Operator NSE Indices
Exchanges National Stock Exchange of India
Trading symbol^NSMIDCP
Constituents50
Type Large cap
Weighting method Capitalisation-weighted
Related indices NIFTY 50
NIFTY 500
Website www.nseindia.com/products-services/indices-niftynext50-index

The NIFTY Next 50 is an stock market index provided and maintained by NSE Indices. It represents the next rung of liquid securities after the NIFTY 50. It consists of 50 companies representing approximately 10% of the traded value of all stocks on the National Stock Exchange of India. It is quoted using the symbol NIFTYJR. [1] [2]

Contents

The NIFTY Next 50 and the NIFTY 50 together comprise the NIFTY 100, which represents the top 100 companies trading on the National Stock Exchange of India based on full market capitalisation. The Nifty Next 50 Index represents 50 companies from Nifty 100 after excluding the Nifty 50 companies. [3]

The Nifty Next 50 Index represents about 10% of the free float market capitalization of the stocks listed on NSE as on September 29, 2023. The total traded value for the last six months September 2023 of all index constituents is approximately 11.2% of the traded value of all stocks on NSE. [4]

Methodology

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. This methodology is similar to the one employed to add stocks to NIFTY 50. [1]

Stocks are added to the index based on the following criteria: [1]

  1. Represents 50 companies from Nifty 100 after excluding the constituents of Nifty 50.
  2. Cumulative weight of index constituents that are not available for trading in F&O segment (Non F&O stocks) is capped at 10% on a quarterly rebalance dates.
  3. Weightage of non F&O stocks in the index are individually capped at 4.5% on quarterly rebalance dates.

The index is re-balanced on semi-annual basis. The cut-off date is January 31 and July 31 every year and average data for the previous six months from the cut-off date is considered to filter stocks. A notice of 4 weeks from the date of change is given to market participants so that they can prepare for any changes. [1]

Comparison with Nifty 50

Nifty Next 50 was launched on December 24, 1996, considering November 03, 1995 as base date and 1000 as base value while Nifty 50 was launched on April 22, 1996, considering November 03, 1995 as base date and 1000 as base value. [1] Nifty Next 50 has outperformed the Nifty 50 considering returns from it's start date to April 2024. [2] [3]

Record values

CategoryAll-time highs [5]
Closing63,325.4510 April 2024
Intra-day63,735.3512 April 2024

Constituents

The following companies constitute the NIFTY Next 50 index, as of 28 March 2024. [4]

Company NameSymbolSector
ABB India ABBCapital Goods
Adani Energy Solutions ADANIENSOLEnergy - Power
Adani Green Energy ADANIGREENEnergy - Power
Adani Power ADANIPOWEREnergy - Power
Adani Total Gas ATGLEnergy - Oil & Gas
Ambuja Cements AMBUJACEMMaterials
Bajaj Holdings BAJAJHLDNGFinancial Services
Bank of Baroda BANKBARODABanking
Berger Paints BERGEPAINTConsumer Durables
Bharat Electronics BELDefence
Bosch BOSCHLTDAutomobile
Canara Bank CANBKBanking
Cholamandalam CHOLAFINFinancial Services
Colgate-Palmolive COLPALConsumer Goods
Dabur DABURConsumer Goods
DLF DLFReal Estate
DMart DMARTRetail
GAIL GAILEnergy - Oil & Gas
Godrej Consumer Products GODREJCPConsumer Goods
Havells HAVELLSConsumer Durables
Hindustan Aeronautics HALDefence
ICICI Lombard General Insurance ICICIGIFinancial Services
ICICI Prudential Life Insurance ICICIPRULIFinancial Services
Indian Oil Corporation IOCEnergy - Oil & Gas
IndiGo INDIGOAirlines
Info Edge NAUKRIOnline Services
IRCTC IRCTCOnline Services
IRFC IRFCFinancial Services
Jindal Steel & Power JINDALSTELMetals
Jio Financial Services JIOFINFinancial Services
Life Insurance Corporation LICIFinancial Services
Marico MARICOConsumer Goods
Pidilite Industries PIDILITINDChemicals
Power Finance Corporation PFCFinancial Services
Punjab National Bank PNBBanking
REC RECFinancial Services
Samvardhana Motherson MOTHERSONAutomobile
SBI Card SBICARDFinancial Services
Shree Cement SHREECEMMaterials
Siemens SIEMENSCapital Goods
SRF SRFChemicals
Tata Power TATAPOWEREnergy - Power
Torrent Pharmaceuticals TORNTPHARMPharmaceuticals
Trent TRENTRetail
TVS Motor Company TVSMOTORAutomobile
United Spirits MCDOWELL-NConsumer Goods
Varun Beverages VBLConsumer Goods
Vedanta VEDLMetals
Zomato ZOMATOOnline Services
Zydus Lifesciences ZYDUSLIFEPharmaceuticals

See also

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References

  1. 1 2 3 4 5 "Nifty Next 50 Factsheet - NSE Indices" (PDF). NSE Indices . 2024-03-28. Archived (PDF) from the original on 2024-04-12. Retrieved 2024-04-13.
  2. 1 2 "What is Junior Nifty Index in Stock Market?". ICICI Direct. 2022-03-10. Archived from the original on 2023-01-28. Retrieved 2024-04-12.
  3. 1 2 Sahu, Sridhar (2023-02-01). "Nifty 50 vs Nifty Next 50 vs Nifty 100 - Which large cap Index To Pick?". ET Money . Archived from the original on 2023-12-05. Retrieved 2024-04-12.
  4. 1 2 "Nifty Next 50 Index - NSE India". NSE India . Archived from the original on 2024-03-05. Retrieved 2024-04-10.
  5. "NIFTY_NEXT_50 - Google Finance". Google Finance . Retrieved 2024-04-13.