NSE Index Limited has launched India’s first index to track the electric vehicle and new-age automobile segment. NSE said that this is India’s first electric vehicle index.
NSE Index Ltd, a subsidiary of National Stock Exchange, has launched India’s first index to track the electric vehicle and new age automobile segment. NSE said that this is India’s first electric vehicle index. The new index is expected to act as a benchmark for asset management, becoming a reference index to be tracked by passive funds in the form of exchange traded funds (ETFs), index funds and structured products.
There are currently 17 thematic indices on NSE. Apart from Nifty Commodities, Nifty India Consumption, Nifty CPSE, Nifty Energy and Nifty Infrastructure thematic indices, NSE operates broad market indices (such as Nifty, Nifty Next 50, Nifty 100, Nifty 100 etc.) and 15 sectoral indices including Nifty Bank, Nifty IT and Nifty Auto. It also operates strategy indices and fixed income indices. The base date of the index is April 02, 2018 and the base price is 1000 points. Stocks which are part of or were part of the Nifty 500 index at the time of review are eligible for inclusion in the index.
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Announcement of reduction of tick size
Recently, the National Stock Exchange (NSE) has decided to make the ‘tick size’ i.e. the minimum price difference to one paisa for all shares priced below Rs 250 from June 10. Let us tell you that tick size indicates the minimum price difference between two consecutive bid and offer prices. Currently, the tick size for these shares is five paisa, which will be reduced to one paisa. The purpose of this step is to increase liquidity and find better value through more accurate price adjustment. Let us tell you that last year, BSE had reduced the ‘tick size’ from five paisa to one paisa for shares trading below Rs 100.
