NSE Index Limited, a subsidiary of the National Stock Exchange, has launched India’s first index to track the electric vehicle and new-age automobile segment. NSE said this is India’s first electric vehicle index. The new index will serve as a benchmark for asset management and is expected to become the reference index tracked by passive funds in the form of exchange traded funds (ETFs), index funds and structured products.
There are currently 17 thematic indices on the NSE. In addition to thematic indices Nifty Commodities, Nifty India Consumption, Nifty CPSE, Nifty Energy and Nifty Infrastructure, NSE manages 15 sector indices including broad market indices (such as Nifty, Nifty Next 50, Nifty 100, Nifty 100 etc.) and Nifty Bank. is It also manages IT and Nifty Auto Strategy Index and Fixed Income Index.
The base date of the index is April 02, 2018 and the base price is 1000 points. Stocks which are or are likely to be part of the Nifty 500 index at the time of review are eligible for inclusion in the index.