NSE launches Nifty Waves index to track entertainment, gaming stocks
What's the story
India's National Stock Exchange (NSE) has launched a new benchmark, the Nifty Waves index, to track the performance of stocks from the Indian media, entertainment, and gaming industry.
The launch event was held at the World Audio Visual & Entertainment Summit (WAVES) 2025 in Mumbai.
Maharashtra Chief Minister Devendra Fadnavis symbolically launched it by ringing the NSE bell at the summit.
Index details
Nifty Waves index comprises 43 media, entertainment stocks
The Nifty Waves index includes 43 stocks from the media, entertainment, and publication sectors. These sectors account for 100% weightage. The base value for the index has been set at 1,000.
Nazara Technologies has the highest weightage in this new index, followed by Zee Media, Zee Entertainment, Hathway Cable & Datacom, TV Today Network, Saregama India, PVR Inox, and Network18 Media, among others.
Growth potential
NSE CEO envisions future growth for Nifty Waves
NSE Managing Director and CEO Ashish Kumar Chauhan said he envisions the Nifty Waves index to grow.
"Nifty Waves now consists of 43 companies, but over a period, it could become 10 or hundred times more going forward," he said. This suggests that the index could expand in the future.
The weightage of each stock in this new index is capped at 5%.
Government backing
Maharashtra CM expresses support for NSE's initiatives
Fadnavis also welcomed the NSE's initiatives.
He said, "I am very delighted that WAVES 2025 was organized here in Mumbai. The Maharashtra government has signed many MoUs, and the most important MoUs signed are with NSE."
This backing from the state government further underscores the importance of the new index in India's financial markets, where domestic investors have now overtaken foreign counterparts in stock ownership on Dalal Street.