S&P CNX Nifty

The Standard & Poor's CRISIL NSE Index 50 or S&P CNX Nifty nicknamed Nifty 50 or simply NIFTY OPTION TIPS , is the leading index for large companies on the National Stock Exchange of India. The Nifty is a well diversified 50 stock index accounting for 23 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds. NIFTY OPTION TIPS is owned and managed by India Index Services and Products Ltd. (IISL), which is a joint venture between NSE and CRISIL. IISL is India's first specialized company focused upon the index as a core product. IISL has a marketing and licensing agreement with Standard & Poor's.

The S&P CNX Nifty covers 23 sectors of the Indian economy and offers investment managers exposure to the Indian market in one portfolio.The S&P CNX Nifty stocks represent about 60% of the total market capitalization of the National Stock Exchange (NSE).

The index is a free float market capitalisation weighted index. From inception, the index used full market capitalisation as weight assigned to different constituents. From June 26, 2009, the index is computed based on free float methodology. As of November 2010, top four scrips in the index account for about one third of the weight in the index whereas the top eight scrips account for about half the weightage in the index.

The base period for the S&P CNX Nifty index is November 3, 1995, which marked the completion of one year of operations of NSE's Capital Market Segment. The base value of the index has been set at 1000, and a base capital of Rs 2.06 trillion.