Which banks are listed under Nifty Bank Index?
- Asked By
- Updated On:06-Oct-2022
- Replies:1
Short Answer
There are a total of 12 banks listed under Nifty Bank Index. These banks are HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, AXIS Bank, IndusInd Bank, Bandhan Bank, Bank of Baroda, AU Small Fin Bank, and Punjab National Bank, IDFC Bank and Federal bank.
Detailed Answer
Nifty Bank index, also known as Bank Nifty, is an index made up of the most liquid and highly capitalized Indian banking stocks that accurately reflects the performance of Indian bank stocks in the capital markets.
Which banks are listed under Nifty Bank Index?
The Nifty Bank index has 12 stocks from the banking sector which are as follows:
1.HDFC Bank
HDFC Bank is the largest private sector bank in India by assets and the tenth largest bank in the world by market capitalization as of April 2021.
- NSE Symbol : HDFCBANK
- Weightage : 25.71 %
2. ICICI Bank
ICICI Bank Limited is a Vadodara-based multinational bank and a provider of financial services.
- NSE Symbol : ICICIBANK
- Weightage : 24.34 %
3. SBI Bank
State Bank of India is the 221st-ranked bank on the Fortune Global 500 list of the largest companies in the world, making it the world's 43rd-largest bank.
- NSE Symbol : SBIN
- Weightage : 11.29 %
4. Kotak Mahindra Bank
Kotak Mahindra Bank Limited provides banking products and financial services in the areas of personal finance, investment banking, and life insurance to corporate and retail clients.
- Weightage : 11.10 %
- NSE : KOTAKBANK
5. Axis Bank
Axis Bank Limited is an Indian banking and financial services. It offers financial services to big and small businesses, SMEs, and retail outlets.
- NSE Symbol : AXISBANK
- Weightage : 11.56 %
6. IndusInd Bank
IndusInd Bank Limited is a Mumbai-based financial services provider in India. The bank provides products and services for commercial, transactional, and electronic banking.
- NSE Symbol : INDUSINDBK
- Weightage : 5.92 %
7. Bank of Baroda
Bank of Baroda is India's second-largest PSB in terms of market cap and business after SBI.
- NSE Symbol : BANKBARODA
- Weightage : 2.00 %
8. Bandhan Bank
Bandhan Bank Ltd. is a Kolkata-based provider of banking and financial services. It has 5,639 banking locations and more than 2.63 crore customers across 34 of India's states and union territories.
- NSE Symbol : BANDHANBNK
- Weightage: 1.58 %
9. AU Small Fin Bank
AU Small Finance Bank provides financial services to low- and middle-income people as well as micro and small businesses that have little to no access to conventional banking and financing systems.
- NSE Symbol : AUBANK
- Weightage : 2.46 %
10. Punjab National Bank
Punjab National Bank was founded in May 1894 and is currently the second-largest government-owned bank in India in terms of network size and business volume.
- NSE Symbol : PNB
- Weightage : 2.42 %
11. IDFC First Bank
- NSE Symbol : IDFCFIRSTB
- Weightage : 2. 11 %
12. The Federal Bank
Federal Bank provides banking and financial services, it is also involved in treasury operations, corporate banking, and retail banking.
- NSE Symbol : FEDERALBNK
- Weightage : 1.92 %
Are the banks permanent under the Nifty Bank Index?
No, these banks are not permanent. As part of the index rebalancing process, the banks are added and removed based on their performance. The Nifty Bank Index is re-balanced on a semi-annual basis. The cut-off date for this is January 31 and July 31 of each year.
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Discussion (0)
Contrary to popular belief, India has more stock exchanges than only the two most well-known, the NSE and BSE. There is no denying that these two stock exchanges dominate the Indian market, but according to SEBI, there are currently seven recognised stock exchanges in India.
Nifty and Sensex and two stock market index given to the top performing, financially established and stable companies where most of the individuals prefer investing.
To find good companies out of the thousand companies listen on the Indian stock exchange, you can filter stocks on the basis of certain parameters such as Market cap, Debt to Equity, Dividend payouts, Revenue and Profits growth, etc. You can easily use an online stock screener to find out these stocks.
No, both the premier stock exchanges of India - National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) do not work on Saturdays.
Zerodha is Indias largest discount broker in terms of the trading volume. Here you can create your own wishlist on the Kite application. The kite application is the trading terminal provided by Zerodha which is free to all its clients. The following steps can be followed to add the stocks to your watchlist.
Nifty is an index comprising of the top 50 companies in terms of the market capitalization of the NSE (National Stock Exchange). Bank Nifty, on the other hand, comprises 12 top banking stocks of the NSE. These indices are an attractive option for investors as they track the performance of the most valuable companies of the NSE. Know if you can purchase one share in these indices.
Nifty and Sensex play a major role in the economy of the country as they list the best performing companies among all. There are various criteria that are necessary to be under Nifty and Sensex Index such as Liquidity, Market Capitalization, etc.
The Nifty 50 is an index consisting of the top 50 companies in terms of market cap, present on the NSE (National Stock Exchange). These companies can be termed as Large-Cap stable companies which are on top of the list. Buying Nifty directly is not possible as Nifty is not a stock that one can buy. One can get exposure to the Nifty indirectly by some investment lools like ETFs, etc.
Yes, an Overseas Citizen of India (OCI) can invest in Indian stock market. Let's know ways how an OCI can start investing in Indian stocks from another country.
The Bank Nifty is better for trading and investors with a high risk tolerance. Whereas Nifty is better for investors with a low risk tolerance.