NSE launches Nifty Top 15 Equal Weight index: Check out the constituents

NSE Indices, the index services arm of the stock exchange, has launched a new standard index called the Nifty Top 15 Equal Weight, on October 15.

The Top 15 index will track the performance of top 15 companies, selected on the basis of six-month average free-float market capitalization from the Nifty 50 index.

NSE said the index will act as a benchmark for asset managers, and a reference index which will be tracked by passive funds such as Exchange Traded Funds (ETFs), index funds and structured products.

The Sector-wise Weightage of the components is as follow:

The index has a base date of March 02, 2006 with a base value of 1000, and each stock in the index is equally weighted. Stocks that are part of the Nifty 50 index at the time of review are eligible for inclusion in the index, according to NSE Indices. The index will be reconstituted semi-annually, and rebalanced on a quarterly basis.

The constituents of the index in alphabetical order are as following:
Axis Bank
Bajaj Finance
Bharti Airtel
HDFC Bank
Hindustan Unilever
ICICI Bank
Infosys
ITC
Kotak Mahindra Bank
Larsen & Toubro
Mahindra & Mahindra
Maruti Suzuki India
Reliance Industries
State Bank of India
Tata Consultancy Services