NCDEX launches NDEX, FINNDEX equity indices
NCDEX expands into equity space with rule-based indices NDEX and FINNDEX, signaling a broader market infrastructure push and real-time index offerings
NCDEX, the National Commodities and Derivatives Exchange, introduced two new equity indices on Thursday, expanding its reach into the equity and derivatives markets. The indices, named NDEX and FINNDEX, employ a multi-factor methodology to select and weigh stocks. NDEX includes 20 large, actively traded Indian equities from the top 60 companies listed on the National Stock Exchange (NSE), while FINNDEX tracks 15 financial-sector stocks, excluding insurance firms, from the top 40 eligible companies.
Both indices are owned by NCDEX Ltd and managed by NSE Indices Ltd, with their values reset to 10,000 as of January 2010. Index values will be updated in real-time throughout market hours. NCDEX's CEO, Vikas Goel, stated that the indices aim to enhance market infrastructure, providing informed investment choices, expanding market tools, and solidifying India's standing as a significant global capital destination.
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