Blitz Bureau
MUMBAI: Maharashtra Chief Minister Devendra Fadnavis launched Nifty Waves Index during the World Audio Visual & Entertainment Summit in Mumbai. It comprises 43 listed companies that belong to the media, entertainment and gaming industry.
The weight of each stock in the index is based on free float market capitalisation subject to a cap of 5 per cent. The base date for the index is April 1, 2005, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis.
Speaking on the occasion, Fadnavis said, “Through WAVES, we are building a bridge between our rich cultural heritage and our boundless digital future. The launch of the Nifty Waves Index has provided us with a tool to measure success in this field and inspire many more entrepreneurs.”
Ashishkumar Chauhan, MD & CEO of the National Stock Exchange of India, said the Nifty Waves index “offers us a benchmark to understand market trends and unlock the full potential of India’s creative economy
