The Nifty Next 50 Index represents 50 companies from Nifty 100 after excluding the Nifty 50 companies.
As on March 2024, the index had top sector representation from financial services sector with 23.76% weight followed by capital goods sector with 11.91% and consumer services with 11.57%.
The index was introduced on January 1, 1997, with base date and base value being November 03, 1996, and 1000 respectively. The Nifty Next 50 index has a 71% correlation and a Beta value of 0.95 with the Nifty 50 Index.
It has a correlation of 90% with Nifty Midcap 150 index in financial year 2024. #nseIndia #Launch #NiftyNext50Index #Derivatives #nse