NSE Indices, a subsidiary of the National Stock Exchange (NSE), has introduced a new stock market index called the Nifty India Internet & E-Commerce Index. This index is designed to track the performance of 21 companies from the broader Nifty Total Market, all of which primarily operate through online platforms.
It includes businesses involved in e-commerce, online services, and internet-based operations, aiming to provide investors with a comprehensive measure of the sector’s performance and assist them in making informed investment decisions.
The weight of each stock in the index is determined by its free-float market capitalization, with a maximum cap of 20% for any single stock. The index was launched with a base value of 1,000, set on October 1, 2021. To ensure relevance and accuracy, the index follows a biannual review system, with updates scheduled for March and September. These reviews are based on average market data from the past six months, ending in January and July, respectively.
Among the key constituents, Zomato, a food delivery and quick commerce aggregator, holds the highest weight in the index at 20.3%. Info Edge (India), which operates in recruitment, matrimony, real estate, and education, follows closely with 18.83%. PB Fintech, the parent of PolicyBazaar, which specializes in insurance and lending products, carries 16.72%. Other major players include Paytm, Nykaa, IRCTC, ixigo, Angel One, Motilal Oswal, Swiggy, and Indiamart.
In terms of sectoral distribution, the consumer services sector dominates, accounting for 65.32% of the index’s total weight. The financial services sector follows with 33.48%, while media, entertainment, and publication represent only 1.21%.
This composition reflects the significant role of internet-driven consumer services and financial technology in India’s growing digital economy.