Nifty Media

Nifty Media Index

NIFTY Media is a real-time sectoral index on the National Stock Exchange (NSE) that tracks the performance of the Indian media sector. It comprises 15 stocks from industries such as advertising, digital entertainment, film production, distribution, exhibition, print media, TV broadcasting, software production, and web-based media. Launched in 2011, it has reached 1,900 shares and is reconstituted semi-annually to reflect industry dynamics. NSE Indices Limited manages the index, which is governed by a three-tier structure. The NIFTY Media Total Returns Index is a variant with applications in index funds, structured investment products, ETFs, and benchmarking fund portfolios.

How is Nifty Media calculated?

The Nifty Media index value is calculated as follows – 

Index value = Current market capitalisation/ (Base market capitalisation * Base Index Value)

The NIFTY Media index is rebalanced semi-annually using data from six months, with January 31 and July 31 of each year serving as the cut-off dates. If any NIFTY Media index stocks list needs to be replaced, the market is informed four weeks in advance, and the replacements take effect on the final trading day of March and September. 

How are Stocks Selected to be Included in NIFTY Media?

The 10 stocks that make up the NIFTY Media share price are weighted based on a real-time base market capitalisation value and a regularly limited free-float market capitalisation. 

Securities Eligibility Criteria:

• On the National Stock Exchange, it must be listed.
• Must be part of NIFTY 500.
• If eligible stocks are below 10, deficit stocks are selected from top 800 ranked stocks.
• Must be part of the media sector.
• Must have a trading frequency of at least 90% in the past six months.
• Must have a minimum of six months' of listing history.
• Recently Nifty Media companies list can be included if it meets eligibility criteria for three months.
• The cap must be 33% for a single stock and 62% for the top 3 stocks cumulatively.