Home News NSE Indices introduces India’s inaugural electric vehicle index

NSE Indices introduces India’s inaugural electric vehicle index

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The Nifty Electric Vehicle (EV) & New Age Automotive index, managed by NSE’s index services subsidiary, will track the performance of electric vehicle (EV) ecosystem companies. Its base date, established on April 2, 2018, with a value of 1,000, will undergo semi-annual reconstitution and quarterly rebalancing.

On Thursday, NSE Indices Limited, the index services arm of NSE, unveiled a new thematic index named Nifty EV & New Age Automotive. It will monitor companies within the EV ecosystem or engaged in new-age automotive vehicles and associated technology development.

Introducing the Nifty EV & New Age Automotive Index: A Pioneer in Electric Vehicle Monitoring

On Thursday, NSE Indices Limited, a NSE subsidiary specializing in index services, introduced a new thematic index, the Nifty EV & New Age Automotive Index. It’s crafted to oversee businesses within the electric vehicle (EV) sector and those advancing new-age automotive vehicles and related technology.

electric vehicle
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In an official release, NSE stated, “The Nifty EV & New Age Automotive index aims to monitor companies in the EV ecosystem or engaged in new age automotive vehicles or related technology development.”

The index, with a base date of April 2, 2018, and a base value of 1000, will undergo semi-annual reconstitution and quarterly rebalancing.

“The Nifty EV & New Age Automotive, India’s first Electric Vehicle Index, reflects NSE’s commitment to offering innovative indices in line with market trends. It will enable the creation of investment products, providing opportunities for asset managers and investors to tap into the electric vehicle and new age automotive market,” stated Mukesh Agarwal, CEO of NSE Indices.

The new index is anticipated to serve as a benchmark for asset managers and be tracked by passive funds such as Exchange Traded Funds (ETFs), index funds, and structured products.

“India’s government has been proactive in framing policies to promote e-vehicle adoption and attract investments from global manufacturers, aligning with the Make in India initiative,” NSE added.

Presently, NSE houses 17 thematic indices, comprising Nifty Commodities, Nifty India Consumption, Nifty CPSE, Nifty Energy, and Nifty Infrastructure.

In addition to these thematic indices, NSE manages Broad Market Indices like Nifty, Nifty Next 50, Nifty 100, and others, alongside 15 sectoral indices such as Nifty Bank, Nifty IT, and Nifty Auto.

The Nifty EV & New Age Automotive index seeks to monitor companies involved in the EV ecosystem or new age automotive vehicles and related technology development.

The Indian government has consistently led in crafting policies for EV adoption to bolster India’s manufacturing prowess, aiming to attract investments from global EV manufacturers and boost the Make in India initiative.

Mukesh Agarwal, CEO of NSE Indices, remarked, “The Nifty EV & New Age Automotive, India’s inaugural Electric Vehicle Index, resonates with NSE’s commitment to offer innovative indices aligned with market trends. Its launch will enable the creation of investment products, providing opportunities for asset managers to invest in the electric vehicle and new age automotive market.”

The index’s base date is April 2, 2018, with a base value of 1000, undergoing semi-annual reconstitution and quarterly rebalancing.

The new index is anticipated to serve as a benchmark for asset managers and be tracked by passive funds such as Exchange Traded Funds (ETFs), index funds, and structured products.

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