NSE Indices launches Nifty India Tourism Index

NSE’s index services subsidiary, NSE Indices Limited today launched a new thematic index –Nifty India Tourism. The Nifty India Tourism Index aims to track the performance of stocks from the Nifty 500 Index which represent the travel and tourism theme.

The Government of India has always been at the forefront of formulating policies related to tourism to promote India as a top destination for international tourism. Travel and tourism are two of the largest industries in India,?with a total contribution of about US$ 199.6 billion to the country’s GDP.

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Mr. Mukesh Agarwal, CEO, of NSE Indices, said, “The Nifty India Tourism Index aligns with NSE’s vision to provide innovative indices in line with market trends. The launch of the Nifty Tourism index will facilitate creation of products which will create opportunity for asset managers to invest in the tourism industry, thereby providing valuable tools for investors aiming to capitalize on the growth and resilience of this vibrant industry.”

The base date for the index is April 01, 2005, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced quarterly.

The new index is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds, and structured products.

 

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