Nifty is an index or an indicator of the performance of the companies listed in Nifty Index which are listed on national stock exchange situated in delhi. Nifty constitutes of 50 companies and the change in the Nifty index ( Up or down ) indicate the trend in the majority of those companies that comprise of the Nifty Index.
Nifty is a joint holding of National Stock Exchange ( NSE ) and India Index Services and Products Limited ( IISL ).
The index base year was November 3, 1995 which is when NSE or National Stock Exchange Equity Market Segment completed one year. The base value of the index was then set at 1000.
NIFTY covers 22 sectors of the Indian economy and apart from Nifty there are other major indices like
- CNX Bank Nifty
- CNX IT Nifty
- CNX Mid Cap Index
- CNX Nifty Junior
- S&P CNX 500
The formation of those index tracks the sectoral performance.