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What is Nifty or S&P CNX Nifty?
While the BSE has the Sensex, the NSE has the Nifty. While the Sensex comprises only 30 top listed stocks, based on various criteria, there are 50 stocks that form part of the Nifty.
Stocks that form a part of the Nifty include names like Reliance Industries, ITC, HDFC, HDFC Bank, ICICI Bank, State Bank, Larsen and Toubro, Infosys, Tata Consultancy Services, Tata Motors and several other stocks.
The Nifty stocks include companies from several sectors like steel, cement, technology, automobiles, banking, telecom, oil and gas, infrastructure, pharmacuticals etc.
Nifty is owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL (Credit Rating and Information Services of India Ltd).
The index undergoes a change at times, which some stocks being including at the expense of others. For example, recently Wipro moved out of the Nifty and made way for NMDC. On the other hand Siemens moved out of the Nifty making way for IndusInd Bank.
The NSE Nifty is currently traded at around the 5800 levels and changes almost every day.
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