What is Bank Nifty?
Bank Nifty is the bank index traded in the F&O segment of NSE. It comprises of most liquid banking stocks listed on NSE. This index provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks. The index have 12 stocks from the banking sector which trade on the National Stock Exchange.
1. CNX Bank Index represent about 14.66% of the free float market capitalization of the stocks listed on NSE and 84.66% of the free float market capitalization of the stocks forming part of the banking sector universe as on June 30, 2011.
2. The total traded value for the last six months of all the CNX Bank Index constituents is approximately 14.11% of the traded value of all stocks on the NSE and 82.90% of the traded value of the stocks forming part of the banking sector.
The index is a free float market capitalization weighted index with base date of January 01, 2000, indexed to a base value of 1000.
List of Banks in Bank Nifty
Axis Bank Ltd – AXISBANK
Bank of Baroda – BANKBARODA
Bank of India – BANKINDIA
Canara Bank – CANBK
HDFC Bank Ltd – HDFCBANK
ICICI Bank Ltd – ICICIBANK
IDBI Bank Ltd. – IDBI
Kotak Mahindra Bank Ltd. – KOTAKBANK
Oriental Bank of Commerce – ORIENTBANK
Punjab National Bank – PNB
State Bank of India – SBIN
Union Bank of India – UNIONBANK