CNXFINANCE
Nifty Financial Services.
DATE - AUG 17, 2021.
The Nifty Financial Services Index is designed to reflect the behaviour and performance of the Indian financial market which includes banks, financial institutions, housing finance, insurance companies and other financial services companies. The Nifty Finance Index
comprises of 20 stocks that are listed on the National Stock Exchange (NSE).
TECHNICAL ANALYSIS.
1. Index is near to PREVIOUS SWING HIGH.
2. SUPERTREND give a buy signal.
3. ALLIGATOR give a buy signal.
4. INDEX trading ABOVE MA 21/50/100/200/250/300.
5. 17540 is a BREAKOUT level of CNXFINANCE.
FUNDAMENTAL ANALYSIS.
1.P/E - 23.39
2.P/B - 3.78
3.Dividend Yield - 0.52
Top constituents by weightage -
1.HDFC Bank Ltd. - 23.20
2.ICICI Bank Ltd. - 17.61
3.Housing Development Finance Corporation - 16.40
4.Kotak Mahindra Bank Ltd. - 9.05
5.Axis Bank Ltd. - 6.80
6.State Bank of India - 6.18
7.Bajaj Finance Ltd. - 6.16
8.Bajaj Finserv Ltd. - 3.21
9.HDFC Life Insurance Company Ltd. - 2.05
10.SBI Life Insurance Company Ltd. - 1.80
Portfolio Characteristics -
1. Methodology - Periodic Capped Free Float.
2. No. of Constituents - 20.
3. Launch Date - September 07, 2011
4. Base Date - January 01, 2004
5. Base Value - 1000.
6. Calculation Frequency - Online Daily.
7. Index Rebalancing - Semi-Annually.
Eligibility Criteria for Selection of Constituent Stocks:
i. Nifty 500 constituents representing Financial Services such as banks, financial institutions, housing finance and other financial
services etc. are considered eligible.
ii. Within eligible universe, weights of each subsector based on average free float market capitalization is calculated.
iii. Selection of 20 companies from each sub-sector is made in such a manner that weightage of selected constituents closely matches
with the weightage of the sub-sector as explained earlier.
iv. A preference within each sub-sector is given to companies that are available for trading in NSE’s Futures & Options segment.
v. Companies will be included if average free-float market capitalisation is 1.5 times the average free-float market capitalization of the
smallest index constituent.
vi. Weightage of each stock in the index is calculated based on its free-float market capitalization such that no single stock shall be
more than 33% and weightage of top 3 stocks cumulatively shall not be more than 62% at the time of rebalancing.
DISCLAIMER - All analysis are for educational purpose. it is not a trading or investment advise.
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