Nifty 100 Alpha 30 index launched

NSE Indices Ltd has launched an alpha factor based smart-beta index — Nifty100 Alpha 30. The index consists of 30 companies selected from its parent Nifty 100, based on their individual ‘Jensen’s alpha’ score. The weight of each stock in the 30 stock index is based on a combination of stock’s alpha score and its free float market capitalisation, the NSE said in a release. The base date for the index is April 1, 2005, and base value is 1,000. Nifty100 Alpha 30 will be calculated on an end-of-day basis. Our Bureau