Stocks in nifty finance index (finnifty) is given below, read the entire post to know more in depth about the nifty financial services index.
Table of Contents
What is Nifty Financial Index (Nifty finance/Finnity) ?
Nifty Financial services (Nifty Finance) also popularly known as finnifty among traders is a the most recent index added to the Indian markets. The index was added by NSE to the Indian markets on January 2021. The Nifty financial service index consist of a total of 20 companies that are listed in the Indian markets. The highest weight in nifty finance (finnifty) is given to HDFC bank at 29.75% followed by ICICI Bank at 21.67%. Some of the companies in Nifty financial index are also a part of Nifty 50 and Bank nifty index.
Sectors in Nifty Finance :
- Banks
- Financial Institutions
- Insurance Companies
- Non Banking Financial Companies including housing finance
- Utilities
Stocks in Nifty Finance (Finnifty) with Their Weightage in 2024
Nifty Financial index stocks list with weightage is given below.
| No. | Company Name | Symbol | Weightage |
|---|---|---|---|
| 1 | HDFC Bank Ltd. | HDFCBANK | 29.75% |
| 2 | ICICI Bank Ltd. | ICICIBANK | 21.67% |
| 3 | Axis Bank Ltd. | AXISBANK | 8.9% |
| 4 | Kotak Mahindra Bank Ltd. | KOTAKBANK | 8.07% |
| 5 | State Bank of India | SBIN | 7.39% |
| 6 | Bajaj Finance Ltd. | BAJFINANCE | 5.75% |
| 7 | Bajaj Finserv Ltd. | BAJAJFINSV | 2.65% |
| 8 | Shriram Finance Ltd. | SHRIRAMFIN | 2.06% |
| 9 | Power Finance Corporation Ltd. | PFC | 1.94% |
| 10 | SBI Life Insurance Company Ltd. | SBILIFE | 1.9% |
| 11 | HDFC Life Insurance Company Ltd. | HDFCLIFE | 1.83% |
| 12 | REC Ltd. | RECLTD | 1.86% |
| 13 | Cholamandalam Investment and Finance Company Ltd. | CHOLAFIN | 1.43% |
| 14 | ICICI Lombard General Insurance Company Ltd. | ICICIGI | 1.15% |
| 15 | HDFC Asset Management Company Ltd. | HDFCAMC | 1.08% |
| 16 | SBI Cards and Payment Services Ltd. | SBICARD | 0.63% |
| 17 | ICICI Prudential Life Insurance Company Ltd. | ICICIPRULI | 0.59% |
| 18 | LIC Housing Finance Ltd. | LICHSGFIN | 0.57% |
| 19 | Muthoot Finance Ltd. | MUTHOOTFIN | 0.45% |
| 20 | Indian Energy Exchange Ltd. | IEX | 0.34% |
Nifty Financial Service (Finnifty) Historical Performance Chart:
The index was started on January 2021 at 1000. Past data before 2021 is made using the historical performance of the constituent companies in the index.
Since inception the Nifty financial service index has given a return of 18.26%. Since the index is calculated in real time please check the latest price for an accurate index return. You can check the current price of the index here.
Eligibility Criteria for a Stock to be Added to the Index:
- The stock should be a part of nifty 500, Financial Services such as banks, financial institutions, housing finance and other financial services etc. are considered eligible.
- Within eligible universe, weights of each subsector based on average free float market capitalization is calculated.
- 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 - Weightage of each stock is calculated on 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.
- Companies will be included if average free-float market capitalization is 1.5 times the average free-float market capitalization of the smallest index constituent.
- Preference is given to companies in Futures and Option segment.
Index Rebalancing:
The index is rebalanced on a semi-annual basis. The cut-off dates are January 31 and July 31 of each year. For semi-annual review, average data for six months ending the cut-off date is considered. Four weeks prior notice is given to market from the date of change.
Nifty Financial Index Governance:
A professional team manages all NSE indices. There is a three-tier governance structure comprising the Board of Directors of NSE Indices Limited, the Index Advisory Committee (Equity) and the Index Maintenance Sub-Committee.
FAQ on Finnifty Index:
Does Nifty Financial Index (finnifty) have Derivatives (Futures and Options)?
Yes, the nifty financial index is tradable as a derivative in both Futures and options segment. It has both weekly and monthly contracts in the options segment.
Are there any Nifty Financial Service ETFs’?
Mirae Asset Nifty Financial Services ETF is the only ETF tracking the Nifty Financial Service Index.
What is the expiry day for Finnifty Derivative contracts?
The expiry day for weekly contracts is Tuesday and for monthly contract is the last Tuesday of the month. If that Tuesday is a trading holiday then the previous day when the market is open is selected as the expiry day.
How are Finnifty Derivative contracts settled?
The derivatives which are in the money are cash settled.
What is the lot size of finnifty?
40 is the lot size of finnifty. Only a maximum number of 45 lots are allowed to be bought or sold in a single order.
How to invest in Nifty financial index (finnifty)?
You can buy the individual stocks in the index at their current weightage or buy a nifty financial index etf.
Which stock has the highest weightage in finnifty (Nifty Financial Service) index?
HDFC Bank at 29.75% has the highest weightage in the finnifty index.
Bottom Line:
It is important to know the weightage of a particular stock in a index as any event, news on the particular stock like results, announcements can have an effect on the price of the index. The higher the weightage of the stock the higher is it’s effect on the price of the index. This particularly helpful if you trade futures and options, as every bit of information helps in making your decision.
If you like this post do check out our similar post weightages and analysis on other index like Nifty Metal , Nifty IT and Nifty Pharma.
