NIFTY Next 50 explained

NSE NIFTY NEXT 50
Operator:NSE Indices
Exchanges:National Stock Exchange of India
Symbol:^NIFTYJR [1]
Constituents:50
Cap Level:Large cap
Weighting:Capitalisation-weighted
Related:NIFTY 50NIFTY 500

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.[2] [3]

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.[4]

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.[5]

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.

Stocks are added to the index based on the following criteria:

  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.

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. Nifty Next 50 has outperformed the Nifty 50 considering returns from its start date to April 2024.

Record values

CategoryAll-time highs[6]
Closing 74,059.40Thursday, 11 July 2024
Intra-day 74,453.30Friday, 12 July 2024

Constituents

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

Company Name Symbol Sector
ABB Capital Goods
ADANIENSOL Energy - Power
ADANIGREEN Energy - Power
ADANIPOWER Energy - Power
ATGL Energy - Oil & Gas
AMBUJACEM Materials
BAJAJHLDNG Financial Services
BANKBARODA Banking
BERGEPAINT Consumer Durables
BEL Defence
BOSCHLTD Automotive
CANBK Banking
CHOLAFIN Financial Services
COLPAL Consumer Goods
DABUR Consumer Goods
DLF Real Estate
DMART Retail
GAIL Energy - Oil & Gas
GODREJCP Consumer Goods
HAVELLS Consumer Durables
HAL Defence
ICICIGI Financial Services
ICICIPRULI Financial Services
IOC Energy - Oil & Gas
INDIGO Airlines
NAUKRI Online Services
IRCTC Online Services
IRFC Financial Services
JINDALSTEL Metals
JIOFIN Financial Services
LICI Financial Services
MARICO Consumer Goods
PIDILITIND Chemicals
PFC Financial Services
PNB Banking
RECLTD Financial Services
MOTHERSON Automotive
SBICARD Financial Services
SHREECEM Materials
SIEMENS Capital Goods
SRF Chemicals
TATAPOWER Energy - Power
TORNTPHARM Pharmaceuticals
TRENT Retail
TVSMOTOR Automotive
MCDOWELL-N Consumer Goods
VBL Consumer Goods
VEDL Metals
ZOMATO Online Services
ZYDUSLIFE Pharmaceuticals

See also

External links

Notes and References

  1. Web site: 2024-06-12 . Nifty Next 50 Index Price Today, Nifty Next 50 share price, Nifty Next 50 Live Charts . live . https://web.archive.org/web/20230817085902/https://www.businesstoday.in/indices/nifty-next-50 . 2023-08-17 . 2024-06-12 . . en-IN.
  2. Web site: 2024-03-28 . Nifty Next 50 Factsheet - NSE Indices . live . https://web.archive.org/web/20240412173338/https://www.niftyindices.com/Factsheet/ind_next50.pdf . 2024-04-12 . 2024-04-13 . NSE Indices.
  3. Web site: 2022-03-10 . What is Junior Nifty Index in Stock Market? . live . https://web.archive.org/web/20230128055429/https://www.icicidirect.com/ilearn/stocks/articles/what-is-junior-nifty-in-stock-market . 2023-01-28 . 2024-04-12 . ICICI Direct.
  4. Web site: Sahu . Sridhar . 2023-02-01 . Nifty 50 vs Nifty Next 50 vs Nifty 100 - Which large cap Index To Pick? . live . https://web.archive.org/web/20231205044631/https://www.etmoney.com/learn/mutual-funds/nifty-50-nifty-next-50-or-nifty-100-which-large-cap-index-to-pick/ . 2023-12-05 . 2024-04-12 . . en-US.
  5. Web site: Nifty Next 50 Index - NSE India . live . https://web.archive.org/web/20240305052216/https://www.nseindia.com/products-services/indices-niftynext50-index . 2024-03-05 . 2024-04-10 . NSE India.
  6. Web site: 2024-07-04 . NIFTY_NEXT_50 - Google Finance . live . https://web.archive.org/web/20240704192550/https://www.google.com/finance/quote/NIFTY_NEXT_50:INDEXNSE?client=firefox-b-d . 2024-07-04 . 2024-04-13 . . en-US.