NCDEX launches NDEX and FINNDEX using trading activity and volatility
NCDEX has announced its first equity indices: NDEX, which comprises 20 large and liquid Indian equities selected from a universe of the top 60, and FINNDEX, focused on 15 big names in finance (but skips insurance firms).
What's cool is these aren't your usual indices: they mix in factors like trading activity, volatility, and not just company size to decide which stocks make the cut.
Vikas Goel says indices fill gaps
According to the exchange's newly appointed CEO, Vikas Goel, these new indices fill gaps left by classics like Nifty 50 and Sensex by giving a more complete snapshot of the market.
NCDEX is also chatting with asset managers about launching exchange-traded funds and mutual funds based on these indices.
Plus, if the Securities and Exchange Board of India (SEBI) gives the green light, expect futures and options trading on them as early as next year.