Nifty Waves Index Launched To Track Media, Entertainment And Gaming Industry
Mumbai:
The National Stock Exchange (NSE) on Friday launched a new stock market index called the 'Nifty Waves Index' to track the performance of companies in the media, entertainment and gaming industry.
As per NSE's factsheet, the Nifty Waves Index includes 43 companies, all from the media, entertainment and publication sectors.
These sectors together hold 100 per cent weight in the index. The base value of the index has been set at 1,000.
The launch took place during the World Audio Visual and Entertainment Summit (WAVES) 2025, which is being held in Mumbai from May 1 to May 4.
Speaking at the event, NSE MD and CEO Ashish Kumar Chauhan said, "Nifty Waves now consists of 43 companies, but over a period it could become 10 or hundred times more going forward."
"It offers us a benchmark to understand market trends and unlock the full potential of India's creative economy," Mr Chauhan added.
Maharashtra Chief Minister Devendra Fadnavis also expressed his happiness over 'WAVES 2025' being hosted in Mumbai.
"India's next significant export is its imagination -- our stories, music, innovation, and creative spirit. Through WAVES, we are building a bridge between our rich cultural heritage and our boundless digital future," D Fadnavis stated.
He said, "I am very delighted that 'WAVES 2025' was organised here. Maharashtra government has signed many MoUs and the most important ones are with NSE."
He added that the launch of the Nifty Waves Index has provided us with a tool to measure success in this field and inspire many more entrepreneurs.
According to the NSE, to ensure balance, each stock's weight in the index is capped at 5 per cent and the weight of each stock in the index is determined based on its free-float market capitalisation.
Additionally, the index is reconstituted twice a year and rebalanced every quarter.
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