NSE Indices, the index services arm of the National Stock Exchange (NSE), on Monday launched 11 new sectoral indices as it expands its offerings amid growing demand for passive investment products.
The newly introduced indices are Nifty Power, Nifty Capital Goods, Nifty Telecommunications, Nifty Construction, Nifty Consumer Services, Nifty Commercial & Transport Services, Nifty Retail, Nifty Hospitals, Nifty NBFC, Nifty Housing Finance and Nifty Insurance.
With the latest additions, the total number of sectoral indices under the Nifty umbrella has increased to 34, providing broader and more granular representation of different segments of the Indian economy.
NSE Indices said the expanded suite is designed to enhance sectoral coverage across both established and emerging industries.
"The expanded suite of sector indices offers a more comprehensive and granular coverage across established and emerging sectors," the company said in a statement.
The exchange expects the new benchmarks to serve as reference indices for asset managers and passive investment products, including exchange-traded funds (ETFs), index funds and structured products.
The move comes at a time when passive investing is gaining traction in India, with assets managed through ETFs and index funds growing rapidly over the past few years. Sector-specific indices also allow fund houses to launch thematic investment products linked to specific industries.
NSE Indices manages a wide range of benchmark, thematic, strategy and sectoral indices under the Nifty brand. Its flagship Nifty 50 index remains the most widely tracked benchmark for Indian equities.
Apart from equity benchmarks, the company also maintains fixed-income indices tracking government securities, corporate bonds and money market instruments.
The launch is expected to provide investors and fund managers with additional tools to track sector-specific trends and build targeted investment products around segments such as power, telecom, retail, healthcare, insurance and financial services.
