NSE Indices launches Transportation & Logistics index
Premium- This index aims to track the performance of portfolio of stocks that broadly represent the transportation & logistics theme within basic industries
NSE Indices Limited has launched a new index -- Nifty Transportation & Logistics index. This index aims to track the performance of portfolio of stocks that broadly represent the transportation & logistics theme within basic industries like passenger vehicles, commercial vehicles, motorcycles, airlines, shipping and logistics solution providers etc.
The largest 30 stocks forming part of the eligible basic industries are selected based on their six-month average free-float market capitalization as on the cut-off dates at the end of January and July.
Stocks part of the Nifty 500 at the time of review are eligible for inclusion in the index. The weight of each stock in the index is based on its free float market capitalization but capped at 10 per cent.
Index reconstitution will be done on a semi-annual basis.
Top constituents of the Nifty Transportation & Logistics Index by weightage as on 31 January include Maruti Suzuki India Ltd (11.23%), Mahindra & Mahindra Ltd (10.16%) Tata Motors Ltd (9.28%), Adani Ports and Special Economic Zone Ltd (7.96%), Bajaj Auto Ltd (7.02%) Eicher Motors Ltd (5.58%), Hero MotoCorp Ltd (5.35%), Indian Railway Catering And Tourism (3.47%), Ashok Leyland Ltd (2.88%) and Balkrishna Industries Ltd (2.87%).
In terms of sector weightage, top sectors exposure of the index comprise automobile (73.54%), Services (17.31%) and industrial manufacturing (9.15%).
The index is expected to act as a benchmark for asset managers and be a reference index tracked by funds in the form of exchange traded funds (ETFs), index funds and structured products.
The base date for the index is 1 April, 2005 and base value is 1000.
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