Similarly, the index closed at the same level in January 2001 and October 2002 as well.
A total of 13 sectors form part of the index with companies from financial services alone contributing more than a third to the total weight.
It's quite abnormal for a benchmark index comprising large and most liquid stocks to close at the same level as the previous day's close.
However, Wednesday, May 08, was one of those days where the benchmark Nifty50 closed at 22,302.50 points, which is exactly the same level as the previous close.Interestingly, this is the fifth instance over the last 20 years in which the benchmark closed at the same level without even a tick difference.
These top companies contribute 45% to the NSE 's total market capitalisation, which stands at397 lakh crore as of Wednesday's close.
However, if one goes beyond 20 years, the same had happened twice in 1997 and thrice in 1999. Similarly, the index closed at the same level in January 2001 and October 2002 as well.
Dates at which the Nifty50 closes at the same level Date Points 19-06-1997 1159.8 16-07-1997 1183.35 29-06-1999 1191.3 07-07-1999 1243.7 15-07-1999 1317.7 15-01-2001 1286.75 04-10-2002 948.2 01-06-2005 2087.55 14-05-2014 7108.75 27-10-2016 8615.25 31-03-2017 9173.75 08-05-2024 22302.5 Source: Bloomberg
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The index has generated an annualised return of 11.6% since its inception with a dividend yield of 1.2%. The Nifty50 is computed using free float market capitalisation method and under this method, only those shares which are available for trade are considered for the calculation.
A total of 13 sectors form part of the index with companies from financial services alone contributing more than a third to the total weight. While Oil, Gas & Consumable Fuels sector has 12.7% weight, the information technology also enjoys similar weight at 12.3%.
Among the index constituents, HDFC Bank boast the highest weigh of 11.5%, which was followed by Reliance Industries and ICICI Bank. While RIL commands a weight of about 10% on the Index, the second largest private lender ICICI Bank enjoys a weight of 8.1%.
It's quite abnormal for a benchmark index comprising large and most liquid stocks to close at the same level as the previous day's close. However, Wednesday, May 08, was one of those days where the benchmark Nifty50 closed at 22,302.50 points, which is exactly the same level as the previous close.Interestingly, this is the fifth instance over the last 20 years in which the benchmark closed at the same level without even a tick difference. After June 2005, the Nifty50 ended at the same level in May 2014, October 2016, and March 2017, according to data sourced from Bloomberg.The Nifty50 index, which comprises the top 50 companies in the country, was launched in April 1996. The index is a well-diversified yardstick including companies from various sectors so that it can reflect the overall market condition. The dominance of these companies is evident in their market valuation itself. These top companies contribute 45% to the NSE 's total market capitalisation, which stands at397 lakh crore as of Wednesday's close.
