EV Indexes in India: NSE Indices Launches India’s First Electric Vehicle Index

NSE Indices Limited, the index services arm of NSE, on Thursday launched a new thematic index – Nifty EV & New Age Automotive Index. The index tracks the performance of companies that form part of the EV ecosystem or are involved in the development of new-age vehicles. Vehicles or related technology.

In a press release issued on Thursday, NSE said this is India’s first electric vehicle index. “The new index will serve as a benchmark for asset managers and is expected to become a reference index tracked by passive funds in the form of exchange-traded funds (ETFs), index funds and structured products,” it said.

The index base date is April 2, 2018, the base value is 1000, and the index is reconstituted semiannually and rebalanced quarterly.

Commenting on the development, Mukesh Agarwal, CEO, NSE Indices, said: “Nifty EV & New Age Automotive indices are in line with NSE’s vision of providing innovative indices in line with market trends. “The launch of the Nifty EV & New Age Automotive index will drive product relationships, creating opportunities for asset managers to invest in the electric vehicle and new age automotive markets, thereby providing investment vehicles to investors,” the press release said. .

Currently, NSE has 17 thematic indices. Wonderful commodities, wonderful Indian consumption, wonderful CPSEs, wonderful energy and wonderful infrastructure.