NSE Launches Nifty India Internet & Ecommerce Index

SUMMARY

Launched on February 28, Nifty India Internet & Ecommerce Index will track the performance of 21 companies that conduct business largely through online platforms.

The index features new-age stocks like Zomato, Paytm, Nazara, CarTrade, Swiggy, IndiaMART InterMESH, among others

Zomato, PB Fintech and Info Edge are the top constituents of the index with a combined weightage of over 56%

Amid the rise of new-age tech companies in the country, stock exchange NSE’s wholly owned subsidiary NSE Indices has launched the ‘Nifty India Internet & Ecommerce Index’. The thematic index will track the performance of companies that largely conduct business through online platforms.

In a circular released on February 28, NSE Indices said the index can be used for benchmarking fund portfolios, launching index funds, ETFs and structured products.

The index includes new-age tech stocks such as Zomato, Paytm, PB Fintech, Nykaa, Swiggy, Nazara, CarTrade, IndiaMART InterMESH, among others.

The index will reflect the weighted performance of the constituents from three sectors – consumer services, financial services and media, entertainment and publication.

Besides the above-mentioned stocks, the index also includes Info Edge, ixigo, EaseMyTrip, TBO Tek, IRCTC, Infibeam Avenues and Motilal Oswal Financial Services, among others.

The index has a base value of 1,000 and the first value date is October 1, 2021. The index will be reconstituted semi-annually and rebalanced quarterly. The weight of stocks in the index is based on their flee-float market capitalisation with the weight of each stock in the index capped at 20%.

Zomato, PB Fintech and Info Edge are the top 3 constituents of the Nifty India Internet & Ecommerce Index with a combined weightage of over 56%. 

The launch of the index highlights the rising importance of the domestic consumer internet sector and its growing presence in the public markets.

In December last year, Zomato became the first new-age tech stock to feature on the benchmark domestic index BSE Sensex, joining the ranks of heavyweights such as Reliance Industries, Infosys, Hindustan Unilever, Asian Paints, among others. Last month, Zomato also entered the Nifty 50 index, along with Jio Financial Services.

Besides, new-age stocks like Zomato, Delhivery, Jio Financial Services, Paytm, Nykaa and PB Fintech made their way to NSE’s futures and options (F&O) stocks list in December last year.

Meanwhile, recently listed foodtech major Swiggy has been added to Nifty 100, Nifty India New Age Consumption and Nifty India Digital. Ola Electric is part of the Nifty EV & New Age Automotive index.

It is pertinent to note that 13 new-age tech companies went public last year and raised a combined INR 29,000 Cr+ via their initial public offerings (IPOs).

The startup IPO wave is expected to continue in 2025 with more than 20 new-age tech companies such as Zepto, Physics Wallah, Ather Energy, Ola Consumer, Ecom Express, among others, eyeing a public listing this year.

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