NIFTY 50
Performance of the NIFTY 50 index between 1990 and 2021
Foundation21 April 1997
OperatorNSE Indices
ExchangesNational Stock Exchange of India
Trading symbol^NSEI
Constituents50
TypeLarge cap
Weighting methodCapitalisation-weighted
Related indicesNIFTY Next 50
NIFTY 500
Websitewww.nseindia.com

The NIFTY 50 is a benchmark Indian stock market index that represents the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.[1][2]

Nifty 50 is owned and managed by NSE Indices (previously known as India Index Services & Products Limited), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited.[3][4] NSE Indices had a marketing and licensing agreement with Standard & Poor's for co-branding equity indices until 2013. The Nifty 50 index was launched on 22 April 1996,[5] and is one of the many stock indices of Nifty.

The NIFTY 50 index has shaped up to be the largest single financial product in India, with an ecosystem consisting of exchange-traded funds (onshore and offshore), and futures and options at NSE and SGX.[6][7] NIFTY 50 is the world's most actively traded contract. WFE, IOM and FIA surveys endorse NSE's leadership position.[8][9] Between 2008 & 2012, the NIFTY 50 index's share of NSE market fell from 65% to 29%[10] due to the rise of sectoral indices like NIFTY Bank, NIFTY IT, NIFTY Pharma, and NIFTY Next 50.

The NIFTY 50 index covers 13 sectors of the Indian economy and offers investment managers exposure to the Indian market in one portfolio. As of January 2023, NIFTY 50 gives a weightage of 36.81% to financial services including banking, 14.70% to IT, 12.17% to oil and gas, 9.02% to consumer goods, and 5.84% to automobiles.[11][12]

National Stock Exchange of India from 2000 to 2020. (Indices NIFTY 50)
Impact of COVID-19 on Indian stock markets, NIFTY 50 (1 Jan 2020 to 19 May 2020)
This chart represents important World Stock Market Indexes (Nasdaq 100, S&P 500 & Nifty 50).

Methodology

The NIFTY 50 index is a free float market capitalisation weighted index. The index was initially calculated on a full market capitalisation methodology. On 26 June 2009, the computation was changed to a free-float methodology. The base period for the NIFTY 50 index is 3 November 1995, which marked the completion of one year of operations of the equity market segment on NSE. The base value of the index has been set at 1000 and a base capital of ₹ 2.06 trillion.[13][14]

Record values

Category All-time highs[15]
Closing21,894.55Monday, 12 January 2024
Intra-day21,923.95Monday, 12 January 2024

Constituents

The constituents of Nifty 50 as of 13 July 2023:

Company NameSymbolSector[16]
Adani EnterprisesADANIENTDiversified
Adani Ports & SEZADANIPORTSInfrastructure
Apollo HospitalsAPOLLOHOSPHealthcare
Asian PaintsASIANPAINTConsumer Durables
Axis BankAXISBANKBanking
Bajaj AutoBAJAJ-AUTOAutomobile
Bajaj FinanceBAJFINANCEFinancial Services
Bajaj FinservBAJAJFINSVFinancial Services
Bharat PetroleumBPCLEnergy - Oil & Gas
Bharti AirtelBHARTIARTLTelecommunication
Britannia IndustriesBRITANNIAConsumer Goods
CiplaCIPLAPharmaceuticals
Coal IndiaCOALINDIAEnergy - Coal
Divi's LaboratoriesDIVISLABPharmaceuticals
Dr. Reddy's LaboratoriesDRREDDYPharmaceuticals
Eicher MotorsEICHERMOTAutomobile
Grasim IndustriesGRASIMMaterials
HCLTechHCLTECHInformation Technology
HDFC BankHDFCBANKBanking
HDFC LifeHDFCLIFEFinancial Services
Hero MotoCorpHEROMOTOCOAutomobile
Hindalco IndustriesHINDALCOMetals
Hindustan UnileverHINDUNILVRConsumer Goods
ICICI BankICICIBANKBanking
IndusInd BankINDUSINDBKBanking
InfosysINFYInformation Technology
ITCITCConsumer Goods
JSW SteelJSWSTEELMetals
Kotak Mahindra BankKOTAKBANKBanking
Larsen & ToubroLTConstruction
LTIMindtreeLTIMInformation Technology
Mahindra & MahindraM&MAutomobile
Maruti SuzukiMARUTIAutomobile
Nestlé IndiaNESTLEINDConsumer Goods
NTPCNTPCEnergy - Power
Oil and Natural Gas CorporationONGCEnergy - Oil & Gas
Power GridPOWERGRIDEnergy - Power
Reliance IndustriesRELIANCEDiversified
SBI Life Insurance CompanySBILIFEFinancial Services
State Bank of IndiaSBINBanking
Sun PharmaSUNPHARMAPharmaceuticals
Tata MotorsTATAMOTORSAutomobile
Tata SteelTATASTEELMetals
Tata Consultancy ServicesTCSInformation Technology
Tata Consumer ProductsTATACONSUMConsumer Goods
Tech MahindraTECHMInformation Technology
Titan CompanyTITANConsumer Durables
UltraTech CementULTRACEMCOMaterials
UPLUPLChemicals
WiproWIPROInformation Technology

Index changes

Changes in index constituents since Nifty 50 adopted free float criteria in 2009:

Former ConstituentSymbolSector Replaced BySymbol_2 Date of Replacement Ref
ABB India ABB Engineering Bajaj Auto BAJAJ-AUTO 1 October 2010 [17]
Idea Cellular IDEA Telecommunication Dr. Reddy's Laboratories DRREDDY
Unitech UNITECH Realty Sesa Goa VEDL
Suzlon SUZLON Energy - Power Grasim Industries GRASIM 25 March 2011 [18]
Reliance Capital RELCAPITAL Financial Services Coal India COALINDIA 10 October 2011 [19]
Reliance Communications RCOM Telecommunication Asian Paints ASIANPAINT 27 April 2012 [20]
Reliance Power RPOWER Energy - Power Bank of Baroda BANKBARODA
Steel Authority of India SAIL Metals Lupin LUPIN 28 September 2012 [21]
Sterlite Industries STERLITE Metals UltraTech Cement ULTRACEMCO
Siemens SIEMENS Engineering IndusInd Bank INDUSINDBK 1 April 2013 [22]
Wipro WIPRO Information Technology NMDC NMDC
Reliance Infrastructure RELINFRA Construction Wipro WIPRO 27 September 2013 [23]
JP Associates JPASSOCIAT Construction Tech Mahindra TECHM 28 March 2014 [24]
Ranbaxy Laboratories RANBAXY Pharmaceuticals United Spirits MCDOWELL-N
United Spirits MCDOWELL-N Consumer Goods Zee Entertainment Enterprises ZEEL 19 September 2014 [25]
DLF DLF Realty Idea Cellular IDEA 27 March 2015 [22]
Jindal Steel & Power JINDALSTEL Metals Yes Bank YESBANK
IDFC IDFC Financial Services Bosch India BOSCHLTD 29 May 2015 [25]
NMDC NMDC Metals Adani Ports & SEZ ADANIPORTS 28 September 2015 [26]
Cairn India CAIRN Energy - Oil & Gas Aurobindo Pharma AUROPHARMA 1 April 2016 [27]
Punjab National Bank PNB Banking Bharti Infratel INFRATEL
Vedanta VEDL Metals Eicher Motors EICHERMOT
BHEL BHEL Engineering Indiabulls Housing Finance IBULHSGFIN 31 March 2017 [28]
Idea Cellular IDEA Telecommunication Indian Oil Corporation IOC
Grasim Industries GRASIM Textiles Vedanta VEDL 26 May 2017 [29]
ACC ACC Cement Bajaj Finance BAJFINANCE 29 September 2017 [30]
Bank of Baroda BANKBARODA Banking Hindustan Petroleum HINDPETRO
Tata Power TATAPOWER Energy - Power UPL UPL
Ambuja Cements AMBUJACEM Cement Bajaj Finserv BAJAJFINSV 2 April 2018 [31]
Aurobindo Pharma AUROPHARMA Pharmaceuticals Grasim Industries GRASIM
Bosch India BOSCHLTD Engineering Titan Company TITAN
Lupin LUPIN Pharmaceuticals JSW Steel JSWSTEEL 28 September 2018 [32]
Hindustan Petroleum HINDPETRO Energy - Oil & Gas Britannia Industries BRITANNIA 29 March 2019 [33]
Indiabulls Housing Finance IBULHSGFIN Financial Services Nestlé India NESTLE 27 September 2019 [34]
Yes Bank YESBANK Banking Shree Cement SHREECEM 19 March 2020 [35]
Vedanta VEDL Metals HDFC Life HDFCLIFE 31 July 2020 [36]
Zee Entertainment Enterprises ZEEL Media SBI Life Insurance Company SBILIFE 25 September 2020 [30]
Bharti Infratel INFRATEL Telecommunication Divi's Laboratories DIVISLAB
GAIL GAIL Energy - Oil & Gas Tata Consumer Products TATACONSUM 31 March 2021 [37]
Indian Oil Corp IOC Energy - Oil & Gas Apollo Hospitals APOLLOHOSP 31 March 2022 [38]
Shree Cement SHREECEM Cement Adani Enterprises ADANIENT 30 September 2022 [39]
HDFC HDFC Financial Services LTIMindtree LTIM 13 July 2023 [40]

Major single day falls

Following are some of the notable single-day falls of the NIFTY 50 Index.

Sl. No. Date Fall Probable Reason
1 28 October 1997 88.20 points (7.87%) Investors deserted emerging Asian shares during the Asian Financial Crisis. Crashes also occurred in Thailand, Indonesia, South Korea and Philippines.
2 14 May 2004 135.10 points (7.87%) UPA election.
3 17 May 2004 193.5 points (12.24%) UPA election.
4 21 January 2008 496.50 points (8.70%) Due to the US subprime mortgage crisis.
5 22 January 2008 309.50 points (5.94%) Due to the US subprime mortgage crisis.
6 16 August 2013 234.45 points (4.08%) Due to depreciation of the Indian rupee.[41][42]
7 24 August 2015 490.95 points (5.92%) Driven by the meltdown in the Chinese Stock market.[43]
8 24 June 2016 181.85 points (2.20%) Driven by the Brexit Referendum.[44]
9 11 November 2016 229.45 points (2.69%) Driven by the Demonetization move by the Indian Government and the 2016 US Election Results.[45]
10 2 February 2018 256.30 points (2.33%) Driven by the 2018 Union budget of India and Global breakdown.
11 4 October 2018 303.20 points (2.39%) Panic Fall, due to Oil price Increase and rupee fall against US Dollar.
12 5 October 2018 282.80 points (2.67%) Panic Fall, due to Oil price Increase and rupee fall against US Dollar.
13 8 July 2019 252.55 points (2.14%) Due to Union Budget FY 2019.
15 3 September 2019 225.35 points (2.04%) Due to Multiple PSU Bank Merger Announcements.[46][47]
16 1 February 2020 373.95 points (3.11%) Driven by the Union Budget FY 2020 and coronavirus pandemic which saw global breakdown a day before the budget.[48]
17 9 March 2020 538.00 points (4.90%) Driven by the COVID-19 pandemic.[49][50]
18 12 March 2020 868.25 points (8.30%) Driven by the COVID-19 pandemic after WHO declared it a pandemic.[51]
19 16 March 2020 757.80 points (7.61%) Driven by the COVID-19 pandemic.[52]
20 23 March 2020 1135.20 points (12.98%) Driven by the COVID-19 pandemic.[53]
21 11 June 2020 214.15 points (2.12%) Driven by the weak economic outlook as predicted by the United States Federal Reserve.[54][55]
22 26 Feb 2021 568.20 points (3.76%) Global breakdown.
23 12 Apr 2021 524.05 points (3.53%) Rise in daily COVID cases, speculation of complete lockdown in the Maharashtra state.
24 26 Nov 2021 509.80 points (2.91%) New coronavirus strain found in South Africa.
25 20 Dec 2021 371.00 points (2.18%)
26 24 Jan 2022 468.05 points (2.66%) Increasing geopolitical tensions and rising inflation (investors lost 19.33 lakh crore in market in a week).
27 14 Feb 2022 531.95 points (3.06%) Russia-Ukraine tensions, US fed aggressive statements on rate hike and ABG shipyard fraud case.[56]

Major single day gains

Following are some of the notable single-day gains of the NIFTY 50 Index.

Sl. No. Date High Probable reason
1 18 May 2009 651.50 points (17.74%) Ovewhelmingly upbeat results of the 2009 Indian general election; caused multiple trading curbs.
2 20 May 2019 421.10 points (3.69%) Exit Polls of 2019 General elections.
3 23 May 2019 300.90 points (2.49%) Results of the 2019 General Elections in which NDA alliance wins.
4 8 August 2019 176.95 points (1.63%) FPI surcharge rollback.[57]
5 26 August 2019 234.45 points (2.16%) Relief measures, likely US-China trade talks begin.[58]
6 20 September 2019 655.45 points (6.12%) Indian FM announced a cut in the corporate tax rate for domestic companies and new domestic manufacturing companies.[59]
7 23 September 2019 420.65 points (3.73%) Following a corporate tax cut in India.
8 7 April 2020 708.40 points (8.76%) Positive news that infection numbers were peaking in some of the worst affected areas around the world.[60]
9 1 Feb 2021 646.60 points (4.74%) Union budget day by Nirmala Sitharaman.
10 2 Feb 2021 366.65 (2.57%) Union budget reaction.
11 15 Feb 2022 509.65 points (3.03%) Russia withdraws troops from Ukraine border.[61]

Annual returns

The following table shows the annual development of the NIFTY 50 since 2000.[62] The historical daily returns data can be accessed from the NSE website.[63]

Year Closing level Change in Index
in Points
Change in Index
in %
2000 1,263.55 −216.90−14.65
2001 1,059.05 −204.50−13.94
2002 1,093.50 34.45 3.25
2003 1,879.75 786.25 71.90
2004 2,080.50 200.75 10.68
2005 2,836.55 756.05 36.34
2006 3,966.40 1,129.85 39.83
2007 6,138.60 2,172.20 54.77
2008 2,959.15 −3,179.45−51.79
2009 5,201.05 2,241.90 75.76
2010 6,134.50 933.45 17.95
2011 4,624.30 −1,510.20−24.62
2012 5,905.10 1,280.80 27.70
2013 6,304.00 398.90 6.76
2014 8,282.70 1,978.70 31.39
2015 7,964.35 −318.35−3.84
2016 8,185.80 239.45 3.01
2017 10,530.70 2,344.90 28.65
2018 10,862.55 331.85 3.15
2019 12,168.45 1,305.90 12.02
2020 13,981.75 1,813.30 14.90
2021 17,354.05 3,372.30 24.12
2022 18,105.30 751.25 4.32
2023 21,731.40 3621.1 20.02

Derivatives

Trading in futures and options on the NIFTY 50 is offered by the NSE and SGX.[64][7] NSE offers weekly as well as monthly expiry options. It is the second most traded index option in the world after nifty bank [65]

NIFTY Next 50

NIFTY Next 50, also called NIFTY Junior, is an index of 50 companies whose free float market capitalisation comes after that of the companies in NIFTY 50. NIFTY Next 50 constituents are thus potential candidates for future inclusion in NIFTY 50.[66]

See also

References

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