NSE Indices Limited launched the Nifty EV & New Age Automotive Index.
This index will monitor the performance of businesses within the electric vehicle (EV) sector.
This index is also designed to monitor the performance of businesses engaged in the advancement of new-age automotive vehicles and associated technology.
It is a new thematic index. The base date of index is April 2, 2018. Its base value is 1000.
It will be reconstituted semi-annually. It will be rebalanced on a quarterly basis.
This would be the country’s first ever electric vehicle (EV) index.
The new index will act as a benchmark for asset managers.
It will be a reference index tracked passive funds as Exchange Traded Funds (ETFs), index funds and structured products.
As of now, NSE hosts 17 thematic indices. These include Nifty Commodities, Nifty India Consumption, Nifty CPSE, Nifty Energy, and Nifty Infrastructure.
