Nifty Financial Services Ex Bank

The Nifty Financial Services Ex-Bank Index which aims to track the performance of portfolio of stocks from the Financial Services sector other than Banks. The largest 30 stocks from eligible basic industries are chosen based on 6 month average free-float market capitalisation. Index stock weights are based on their free-float market capitalization. Stock weights are capped at 25% each.

The index can be used for a variety of purposes such as benchmarking, creation of index funds, ETFs and structured products.

• Stocks part of / going to form part of the Nifty 500 at the time of review are eligible for inclusion in the index.
• Stocks forming part of the Financial Services sector other than Banks shall be eligible to be included from the universe at the time of review.
• The index comprises of maximum of 30 companies.
• The weight of each stock in the index is based on its free float market capitalization.
• Stocks weights are capped at 25% each.
• The Index is reconstituted semi-annually along with Nifty Broad-based indices.
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.