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The National Stock Exchange (NSE) on Friday launched the Nifty Waves Index, a new benchmark that will track the performance of India’s media, entertainment, and gaming sectors. The announcement was made by Maharashtra’s Chief Minister Devendra Fadnavis at the World Audio Visual and Entertainment Summit (WAVES) 2025, held in Mumbai.
The index comprises 43 listed companies across film, television, digital platforms, music, and gaming. With India’s Media & Entertainment (M&E) industry undergoing rapid digital transformation and global expansion, the Nifty Waves Index aims to provide investors and stakeholders a transparent way to monitor the sector’s market performance.
“The next big export from India is imagination—our stories, music, and innovation. The Nifty Waves Index gives us a metric to track this growth and inspire new entrepreneurs,” said Fadnavis at the inaugural session.
The WAVES summit, supported by the Ministry of Information and Broadcasting and inaugurated by Prime Minister Narendra Modi, brings together global leaders to explore growth and trade opportunities in India’s creative sectors.
The Nifty Waves Index follows a free-float market capitalisation methodology with a maximum cap of 5% per stock. Its base date is April 1, 2005, with a starting value of 1000. The index will be reconstituted semi-annually and rebalanced quarterly.
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Ashishkumar Chauhan, MD & CEO of NSE, remarked, “The Nifty Waves Index is a step forward in understanding and benchmarking one of India’s most dynamic and promising sectors. It reflects the growing investor interest in the creative economy.”Also read: Stock market update: Stocks that hit 52-week highs on NSE in today’s trade
The launch aligns with India’s broader vision to become a global hub for content creation, digital innovation, and creative exports. As global demand for Indian content rises, industry experts see the index as a timely move to support data-driven investments in M&E.
NSE Indices (formerly known as India Index Services and Products), a subsidiary of NSE, provides a variety of indices and index related services for the capital markets.
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