The National Stock Exchange (NSE) on May 2 launched the Nifty Waves index, which would track the performance of stocks that represent the Indian media, entertainment and gaming industry. The index was launched at the World Audio Visual & Entertainment Summit (WAVES) 2025 which is being held at the Jio World Centre in Mumbai from May 1 to May 4.
Maharashtra CM Devendra Fadnavis rang the symbolic NSE bell at the summit, signalling the launch of the index. NSE Managing Director and CEO Ashish Kumar Chauhan among others were also present at the launch ceremony.
According to NSE factsheet on the index, 43 stocks have been added to the Nifty Waves Index, with media, entertainment and publication segment holding 100 percent weightage. The index will have a base value of 1,000.
Nazara Technologies holds the top weightage on the index, followed by Zee Media, Zee Entertainment, Hathway Cable & Datacom, TV Today Network, Saregama India, PVR Inox, Network18 Media and more. The weight of each stock in the index is capped at 5 percent.
National Stock Exchange CEO Ashish Kumar Chauhan said, "Nifty Waves now consists of 43 companies, but over a period it could become 10 or hundred times more going forward."
Maharashtra CM Devendra Fadnavis said, "I am very delighted that WAVES 2025 was organised here in Mumbai. Maharashtra government has signed many MoUs and most important MoUs signed are with NSE."
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