The National Stock Exchange (NSE) has officially launched the Nifty Waves Index, a new thematic index aimed at capturing the performance of India’s dynamic media, entertainment, and gaming ecosystem. The index comprises 43 companies and is intended to serve as a benchmark for investors seeking exposure to this evolving sector.
What is the Nifty Waves Index?
The Nifty Waves Index includes companies representing the Indian media, entertainment, and gaming industries. The index is structured based on free-float market capitalization and capped at 5% weight per stock to prevent concentration risk.
According to NSE, the base date for the index is April 1, 2005, with a base value of 1000. It is reconstituted semi-annually and rebalanced quarterly.
It considers all Indian-domiciled companies that are either listed and traded or permitted to trade on NSE during the review. Stocks are selected from the eligible basic industries and weighted based on their free float market capitalization, with individual stock weight capped at 5%.
The Nifty Waves Index is reconstituted semi-annually and rebalanced quarterly. Governance of the index is maintained through a structured three-tier system comprising the NSE Indices Board of Directors, the Index Advisory Committee (Equity), and the Index Maintenance Sub-Committee.
Top Constituents by Weight (%):
| Company Name | Weight (%) |
|---|---|
| Nazara Technologies Ltd. | 5.23 |
| Zee Media Corporation Ltd. | 5.15 |
| Zee Entertainment Enterprises Ltd. | 5.14 |
| Hathway Cable & Datacom Ltd. | 5.07 |
| TV Today Network Ltd. | 5.07 |
| Saregama India Ltd. | 5.02 |
| PVR INOX Ltd. | 4.96 |
| Network18 Media & Investments Ltd. | 4.76 |
| Den Networks Ltd. | 4.75 |
| Tips Music Ltd. | 4.70 |
India’s digital and content economy is booming, fueled by OTT expansion, gaming adoption, rising internet penetration, and evolving media consumption habits. The Nifty Waves Index provides a structured opportunity for investors and fund managers to participate in this trend.
