NSE arm launches SME Index to track firms on Emerge platform
20 Nov 2017 10:34 PM IST
Mumbai: India Index Services & Products (IISL), an NSE Group entity, has launched a new Nifty Index to measure the performance of small and medium enterprises listed on the dedicated NSE platform for small companies.
The Nifty SME Emerge Index reflects the performance of a portfolio of eligible companies listed on the Emerge. The index represents about 62 per cent of the full market capitalisation of all SMEs listed on the Emerge.
The launch comes on a day when NSE saw the listing of its 100th SME on Monday. As against this, the rival BSE's similar platform has over 200 companies listed on the exchange.
"The index is a well-diversified basket of SMEs spread across 14 sectors with services, IT and consumer goods as top three sectors by weight," IISL chief executive Mukesh Agarwal said in a statement.
"As the number of SMEs listed on the Emerge increases, we'll launch more variants of SME indices to meet the needs of various investors," he added.
Since inception in December 2016, the index has given 39 per cent return as of November 15, 2017.
MFs log Rs 51,000 cr inflows in October
New Delhi: Investors have pumped over Rs 51,000 crore into various mutual fund schemes in October after pulling out more than Rs 16,000 crore in the preceding month, latest data with industry body Amfi showed.
With the latest inflow, total infusion in MF schemes reached to over Rs 2.5 lakh crore in the first seven months (April October) of the current fiscal, Association of Mutual Funds in India (Amfi) noted.
"Mutual fund industry has been among the biggest beneficiaries of demonetisation that resulted in low interest rates on bank deposits. The move also helped investors to shift from physical assets to financial savings. Years of perseverance by industry players and the regulator seems to have paid off, finally.
"The fiscal year may go down in history as the one when the proverbial change in savings habits of Indian households happened," Bajaj Capital CEO Rahul Parikh said. According to the data, investors have poured in a net of Rs 51,148 crore in MF schemes last month as compared to a pull out of Rs 16,604 crore in September.
The latest inflow has been mainly driven by contributions from equity, equity linked saving schemes and income funds.
Equity and equity linked schemes attracted Rs 16,000 crore and income funds received Rs 40,845 crore. Besides, close to Rs 6,000 crore was invested in balanced funds. In contrast, gold ETFs continued to see net outflow of Rs 34 crore. The inflow has also helped in pushing the assets under management of the 42 player mutual fund industry to an all time high of Rs 21.41 lakh crore at the end of October from Rs 20.40 lakh crore in September-end.
Next Story
