Nippon India Nifty BeES ETF witnessed highest traded value amidst market fall
Premium- The second and third ranks in terms of traded value went to SBI Nifty 50 ETF (Rs139 crore) and ICICI Pru Nifty50 ETF (Rs30.5 crore)
The total Nifty50 ETF traded value on 24 February 2022 was about ₹540 crore on the National Stock Exchange of India (NSE). Of this, Nippon India ETF Nifty BeES bagged highest share at approximately ₹351 Crores on NSE. This, as per AMC, is a new record in ETF volumes.
The second and third ranks in terms of traded value went to SBI Nifty 50 ETF ( ₹139 crore) and ICICI Pru Nifty50 ETF ( ₹30.5 crore).
To give a perspective, the average daily traded value of Nippon’s Nifty BeES for last three years has been only ₹22.18 crore. Further, it has been about ₹69.9 crore on March 23, 2020, when the markets witnessed a big crash on the back of Covid-19 pandemic.
As per the press release of Nippon India MF, recently on 20 December 2021, Nippon India ETF Nifty BeES on NSE had crossed traded value of ₹205 crores and now it achieved yet higher traded value.
Talking about liquidity, the AMC said that the traded value of Nippon India ETF Nifty BeES was higher than the aggregate traded value of all other Nifty50 ETFs listed on the NSE.
MINT PREMIUM See All
Hemen Bhatia, Head ETF, Nippon Life India AMC said, “For smart investors today’s fall was akin to a ‘discount sale’ of branded goods, and, instead of indulging in guesswork about which individual stocks to buy, investors simply bought broad market index ETFs like Nifty50 ETF, NiftyNext50 ETF, Bank Nifty ETF and so on".
Never miss a story! Stay connected and informed with Mint. Download our App Now!!