Nifty Bank
List of companies in Nifty Bank:
The Bank Nifty index is also referred to as "Nifty Bank." IISL (India Index Service and Product Limited) launched the index in the year 2000. The index's base date is January 1, 2000, and its base value is 1000 points. The NSE created the nifty bank index to assist investors and other intermediaries in making better decisions by displaying the benchmark of the Indian capital market.
The Nifty Bank index is made up of 12 large-cap and liquid Indian banking stock companies. It displays the underlying banks' performance. The Bank Nifty index includes private and public sector banks and is widely traded in the derivative markets. There is a favourable relationship between the Nifty and the Bank Nifty index. It has a significant weightage in the Nifty index. Bank Nifty current lot size for trading purposes is 25 units. Nifty bank options were the first to be traded weekly and offer good trading opportunities.
The Bank Nifty list of companies (constituents) is reshuffled every six months on January 01 and July 01. When rebalancing, the average data of six months is considered for revaluation. The top stocks of the index as per the data in June 2021 include HDFC Bank Ltd. (31.45%), ICICI Bank Ltd. (18.83%), Kotak Mahindra Bank Ltd. (14.78%), Axis Bank Ltd. (12.35%), and State Bank of India (9.29%). The other companies in Bank Nifty include-
IndusInd Bank, AU Small Finance Bank Ltd., Bandhan Bank, Federal Bank, IDFC First Bank Ltd., Punjab National Bank (PNB), and RBL Bank.