The major Banks component in Banknifty?
Bank Nifty is an index of National Stock Exchange (NSE) in India that represents the performance of the banking sector in the Indian stock market. The index is composed of the most liquid and large capitalization banking stocks listed on the NSE.
The major components of Bank Nifty are the stocks of 12 Indian banking companies that meet the index's eligibility criteria. The current constituents of Bank Nifty (as of September 2021) are:
- HDFC Bank Ltd.
- ICICI Bank Ltd.
- Axis Bank Ltd.
- State Bank of India (SBI)
- Kotak Mahindra Bank Ltd.
- IndusInd Bank Ltd.
- Bandhan Bank Ltd.
- Punjab National Bank (PNB)
- Bank of Baroda
- Federal Bank Ltd.
- IDFC First Bank Ltd.
- RBL Bank Ltd.
Top constituents by weightage HDFC Bank Ltd. 28.86 ICICI Bank Ltd. 24.42 Kotak Mahindra Bank Ltd. 10.27 Axis Bank Ltd. 9.79 State Bank of India 9.39 IndusInd Bank Ltd. 5.94 Bank of Baroda 2.50 AU Small Finance Bank Ltd. 2.41 Federal Bank Ltd. 2.31 Bandhan Bank Ltd. 1.4
These companies represent different segments of the banking industry in India, including retail banking, corporate banking, and investment banking. The weightage of each company in the index is based on its market capitalization and free-float market capitalization, which are adjusted periodically based on the changes in their share prices.
Bank Nifty is calculated based on the free-float market capitalization of its components. As of September 2021, the weightage of banking companies in Bank Nifty is around 92%. This means that almost all of the companies in the index are banks or financial institutions, and they collectively contribute to 92% of the index's value.
It is important to note that the weightage of each company in Bank Nifty is periodically adjusted based on their market capitalization, so the exact percentage of banks in Bank Nifty may vary over time.
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