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The Nifty Bank Index comprises the most liquid and large Indian banking stocks. It provides investors and market intermediaries a benchmark that captures the capital market performance of Indian banks. The Index comprises a maximum of 12 companies listed on National Stock Exchange of India (NSE).
The Nifty Bank Index is computed using the free-float market capitalisation method, wherein the level of the index reflects the total free-float market value of all the stocks in the index relative to a particular base market capitalisation value. The index follows a periodic capped free-float methodology to ensure balanced representation across constituent companies. An index variant, the Nifty Bank Total Returns Index, is also available for tracking total returns including dividend distributions.
The index is managed by a professional team under 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. As of October 31, 2025, the index comprises 12 constituents and is calculated in real-time during market hours.
The Nifty Bank Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs, and structured products. The index provides investors and market intermediaries with a comprehensive benchmark to track the performance of the banking sector within the Indian equity market.
The Nifty Bank Index was launched on September 15, 2003. The base date for the index is January 1, 2000, with a base value of 1,000.
The index is rebalanced on a semi-annual basis. The cut-off dates are January 31 and July 31 of each year, meaning that for the semi-annual review of indices, average data for six months ending the cut-off date is considered. Four weeks’ prior notice is given to the market from the date of change.
As of October 31, 2025, the top constituents of the Nifty Bank Index by weightage are:
The following eligibility criteria are applied for selection of constituent stocks:
The index uses the periodic capped free-float methodology. The calculation frequency is real-time, providing continuous updates during market hours.
As of October 31, 2025, the index demonstrated the following performance characteristics:
Returns (Total Return Index):
Fundamentals:
Risk Metrics (based on Price Return Index):
The Nifty Bank Index comprises a maximum of 12 companies. These companies are the most liquid and large Indian banking stocks listed on National Stock Exchange of India (NSE).
Companies that are allowed to trade in the F&O (Futures and Options) segment are only eligible to be constituents of the index. Additionally, companies must form part of the banking sector and meet standard criteria including 90% trading frequency in the last six months and minimum one month listing history.
The Nifty Bank Index was launched on September 15, 2003. However, the base date for the index is January 1, 2000, with a base value of 1,000, allowing for historical performance tracking before the official launch date.
