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What is Bank Nifty & its Significance?

We are all intrigued by the terminology Bank Nifty and to make it simple we can say that Bank Nifty is the index of top Indian banking companies which are traded in the Future and Option (F&O) segment on National Stock Exchange of India. You can check the live Nifty Autorefresh chart here and Bank Nifty AutoRefresh charts here.

It is pertinent to note that 12 most liquid and blue chip stock traded on NSE constitute the Bank Nifty. The stocks along with their codes which have been included in Bank Nifty Index are as following:-
  • Axis Bank Ltd. - AXISBANK
  • Bank of Baroda - BANKBARODA
  • Bank of India - BANKINDIA
  • Canara Bank - CANBK
  • HDFC Bank Ltd. - HDFCBANK
  • IndusInd Bank Ltd. - INDUSINDBK
  • Kotak Mahindra Bank Ltd. - KOTAKBANK
  • Punjab National Bank - PNB
  • State Bank of India - SBIN
  • Union Bank of India - UNIONBANK
  • Yes Bank Ltd. - YESBANK
Why we give importance to bank Nifty is due to the fact that it shows the pulse of the Indian economy and CNX Bank Nifty captures the performance of Indian banking system as compared to the capital market for investors and traders. The index is a free float market capitalization weighted index with base date of January 1, 2000 indexed to a base value of 1000. Just remember that this list is dynamic and addition or droppings can take place as per performance of the stock.

While going in for the selection of the stocks which will constitute the bank Nifty; the stock should be able to satisfy following criterions:
  • Company's market capitalisation and turnover rank should be less than 500.
  • Company's trading frequency should be at least 90% in the last six months.
  • Company should have a positive net worth.
We have done a review on the most bullish sector in up trending Nifty and if you are looking to make money in intraday then do remember to check the hot share of the day to make money in less than 2 hours.

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Chart> Nifty A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9