The Nifty Financial Services index was now up with its components trading higher in Wednesday’s afternoon session.
The Shares of Mahindra & Mahindra Financial (up 4.39 per cent) , Shriram Transport Finance (up 2.76 per cent) , Power Finance Corporation (up 2.54 per cent) , REC (up 1.52 per cent) , Indiabulls Housing Finance Ltd (up 1.45 per cent) , SBI Life (up 1.35 per cent) , Bajaj Finance (up 1.31 per cent) , State Bank of India (up 1.3 per cent) , HDFC Bank (up 1.2 per cent) , Bajaj Finserv (up 1.15 per cent) ,
Cholamandalam Investment & Finance (up 0.77 per cent) , Bajaj Holdings & Investment (up 0.76 per cent) , ICICI Bank (up 0.72 per cent) , Axis Bank (up 0.69 per cent) , HDFC LIFE INSURANCE (up 0.65 per cent) , Kotak Mahindra Bank (up 0.64 per cent) , ICICIGI (up 0.28 per cent) , Edelweiss Financial Services (up 0.15 per cent) and HDFC (up 0.07 per cent) were among the top gainers.
The Nifty Financial Services index was trading 0.81 per cent up at 14388.8 around 11:52 am. The Benchmark National Stock Exchange NSE Nifty 50 index was up 99.60 points at 12155.4 , while the BSE Sensex was up 325.87 points at 41292.73 . Among the 50 stocks in the Nifty index, 44 were trading in the green, while 6 were in the red. Shares of Vodafone Idea, YES Bank, Tata Motors, SAIL, Bharti Airtel, United Spirits, SBI, ICICI Bank, Bank of Baroda and Indian Oil Corporation were among the most traded shares on the National Stock Exchange.
The Nifty is a benchmark of the National Stock Exchange (NSE), which is a well-diversified index, comprising top 50 companies in terms of free-float market capitalization that are traded . The Nifty index was launched on April 22, 1996, with a base value of 1,000 counted from November 3, 1995. It reflect the health of the listed universe of Indian companies, and hence the broader economy, in all market conditions. And Officially called the Nifty 50, the index is computed using the free float market capitalization method. The Nifty is just like BSE benchmark Sensex, and today used for benchmark portfolios and returns of mutual fund schemes and launching index funds.