Nifty 50 stocks with weights for September 2020

Published: September 11, 2020 at 3:47 pm

Nifty 50 stocks with index weightage and market capitalization are tabulated for September 2020. These 50 out of the 1600 companies traded on the NSErepresenting 65% its float-adjusted market capitalization. The index started trading in April 1996.

To be included in the Nifty, a stock must have an impact cost of less than 0.5% during the last six months for 90% of the observations for a portfolio of Rs. 10 crores. This means that large quantities of stocks can be bought or sold without too much disparity between buying and asking price. This is a good way to measure market liquidity.

Thus the 50 stocks of Nifty represent the most liquid stocks on the NSE weights as per their free-float market capitalization. The base date is November 3, 1995 (1st anniversary of the NSE) and the base value is 1000 with a base capital of Rs 2.06 trillion.

NIfty 50 Calculation

From 26th 2009, the index was created using the float-adjusted market capitalization-weighted method. This is computed by multiplying the market capitalization with an investible weight factor (IWF). The IWF is a measure of shares that are freely available for trading.

IWF = [Total Shares– (A+B +C +D +E +F)] /Total Shares

where:

  • A= Shareholding of promoter and promoter group
  • B= Government holding in the capacity of a strategic investor
  • C= Shares held by promoters through ADR/GDRs.
  • D= Equity held by associate/group companies (cross-holdings)
  • E= Employee Welfare Trusts
  • F= Shares under lock-in category

Market Capitalization = Shares outstanding X Price
Free Float Market Capitalization = Market Capitalization X IWF

The level of the Index reflects the total market value of all the stocks in the Index relative to the base period November 3, 1995
Index Value = (Current Market Value / Base Market Capital )* Base Index Value

Here: Base Market Capital: Rs 2.06 trillion and Base Index Value: 1000

Stocks with the highest free-float market cap have the highest weight in the index.

Index Level= SUM of (Price ×Free Float Market Capitalization)​/Divisor

The SUM is carried out over all the 50 stocks. The divisor is proprietary to the NSE tacking corporate actions into account and changes each time a stock is replaced.

Nifty Sector weights (%) September 2020

Security NameIndustryWeightage (%)
Reliance Industries Ltd.REFINERIES13.63
HDFC Bank Ltd.BANKS9.99
Infosys Ltd.COMPUTERS – SOFTWARE7.03
Housing Development Finance Corporation Ltd.FINANCE – HOUSING6.55
ICICI Bank Ltd.BANKS5.62
Tata Consultancy Services Ltd.COMPUTERS – SOFTWARE4.9
Kotak Mahindra Bank Ltd.BANKS4.24
Hindustan Unilever Ltd.DIVERSIFIED3.91
ITC Ltd.CIGARETTES3.45
Bharti Airtel Ltd.TELECOMMUNICATION – SERVICES2.55
Axis Bank Ltd.BANKS2.54
Larsen & Toubro Ltd.ENGINEERING2.39
Bajaj Finance Ltd.FINANCE1.91
Maruti Suzuki India Ltd.AUTOMOBILES – 4 WHEELERS1.88
Asian Paints Ltd.PAINTS1.77
State Bank of IndiaBANKS1.68
HCL Technologies Ltd.COMPUTERS – SOFTWARE1.56
Mahindra & Mahindra Ltd.AUTOMOBILES – 4 WHEELERS1.2
Nestle India Ltd.FOOD AND FOOD PROCESSING1.18
Sun Pharmaceutical Industries Ltd.PHARMACEUTICALS1.16
Dr. Reddy’s Laboratories Ltd.PHARMACEUTICALS1.07
NTPC Ltd.POWER0.97
Power Grid Corporation of India Ltd.POWER0.95
Tech Mahindra Ltd.COMPUTERS – SOFTWARE0.95
Titan Company Ltd.GEMS, JEWELLERY AND WATCHES0.95
UltraTech Cement Ltd.CEMENT AND CEMENT PRODUCTS0.93
Britannia Industries Ltd.FOOD AND FOOD PROCESSING0.91
HDFC Life Insurance Company Ltd.FINANCE0.86
Wipro Ltd.COMPUTERS – SOFTWARE0.83
Hero MotoCorp Ltd.AUTOMOBILES – 2 AND 3 WHEELERS0.81
Bajaj Auto Ltd.AUTOMOBILES – 2 AND 3 WHEELERS0.8
IndusInd Bank Ltd.BANKS0.79
Bajaj Finserv Ltd.FINANCE0.77
Cipla Ltd.PHARMACEUTICALS0.75
Bharat Petroleum Corporation Ltd.REFINERIES0.68
Tata Steel Ltd.STEEL AND STEEL PRODUCTS0.63
Oil & Natural Gas Corporation Ltd.OIL EXPLORATION/PRODUCTION0.62
Eicher Motors Ltd.AUTOMOBILES – 4 WHEELERS0.6
Coal India Ltd.MINING0.58
UPL Ltd.PESTICIDES AND AGROCHEMICALS0.58
JSW Steel Ltd.STEEL AND STEEL PRODUCTS0.57
Hindalco Industries Ltd.ALUMINIUM0.56
Shree Cement Ltd.CEMENT AND CEMENT PRODUCTS0.56
Adani Ports and Special Economic Zone Ltd.SHIPPING0.55
Grasim Industries Ltd.CEMENT AND CEMENT PRODUCTS0.55
Tata Motors Ltd.AUTOMOBILES – 4 WHEELERS0.53
Indian Oil Corporation Ltd.REFINERIES0.45
Zee Entertainment Enterprises Ltd.MEDIA & ENTERTAINMENT0.38
GAIL (India) Ltd.GAS0.37
Bharti Infratel Ltd.TELECOMMUNICATION – EQUIPMENT0.35

Source: NSE monthly reports

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