What is Nifty Media
The NIFTY Media Index is designed to reflect the behaviour and performance of the Media segment of the overall market. The NIFTY Media Index comprises 10 tradable, exchange-listed companies. The index represents Media related sectors like TV Channel Companies, Digital Education Companies, Broadcasting Companies etc. NIFTY Media Index is computed using the free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to a particular base market capitalization value. NIFTY Media Index can be used for various purposes such as benchmarking fund portfolios and launching index funds, ETFs and structured products.
Nifty Media Companies List and its Weightage (1st July 2023)
Sl No. | Company Name | NSE Symbol | Weightage |
1 | Zee Entertainment Enterprises | ZEEL | 29.13% |
2 | PVR Inox Ltd. | PVRINOX | 23.84% |
3 | Sun TV Network Ltd. | SUNTV | 9.07% |
4 | Nazara Technologies Ltd. | NAZARA | 9.01% |
5 | TV18 Broadcast Ltd. | TV18BRDCST | 8.72% |
6 | Dish TV India Ltd. | DISHTV | 6.99% |
7 | Network18 Media & Investments | NETWORK18 | 5.70% |
8 | Navneet Education Ltd. | NAVNETEDUL | 3.60% |
9 | Hathway Cable & Datacom Ltd. | HATHWAY | 2.35% |
10 | NDTV | NDTV | 1.59% |
How Nifty Media Stocks are Selected
Eligibility Criteria for Selection of Constituent Stocks
i. Companies should form part of NIFTY 500 at the time of review. In case, the number of eligible stocks representing a particular sector within NIFTY 500 falls below 10, then the deficit number of stocks shall be selected from the universe of stocks ranked within top 800 based on both average daily turnover and average daily full market capitalisation based on last six months period data used for index rebalancing of NIFTY 500.
ii. Companies should form a part of the Automobiles sector.
iii. The company's trading frequency should be at least 90% in the last six months.
iv. The company should have a listing history of 6 months. A company which comes out with an IPO will be eligible for inclusion in the index if it fulfils the normal eligibility criteria for the index for a 3-month period instead of a 6-month period.
v. Final selection of 15 companies shall be done based on the free-float market capitalization of the companies.
vi. Weightage of each stock in the index is calculated based on its free-float market capitalization such that no single stock shall be more than 33% and the weightage of the top 3 stocks cumulatively shall not be more than 62% at the time of rebalancing.
Index Re-Balancing
The index is re-balanced on a semi-annual basis. The cut-off date is January 31 and July 31 of each year, i.e. For a semi-annual review of indices, average data for six months ending the cut-off date is considered. Four weeks prior notice is given to the market from the date of the change.
Index Governance
A professional team manages all NSE indices. There is a three-tier governance structure comprising the Board of Directors of NSE Indices Limited, the Index Advisory Committee (Equity) and the Index Maintenance Sub-Committee.
