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May 29, 2024

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Bank Nifty Companies

Company Name PE Mcap/Sales P/BV EV/EBIDTA D/E ROCE ROE
indexConst.COMPANY 10.24 2.11 0.52 35.89 0.00 0.00 18.44
indexConst.COMPANY 18.58 8.03 0.38 82.62 0.00 0.00 14.14
indexConst.COMPANY 10.06 2.32 0.77 22.19 0.00 0.00 14.94
indexConst.COMPANY 18.15 6.81 0.39 28.79 0.00 0.00 17.20
indexConst.COMPANY 17.90 6.54 0.32 62.59 0.00 0.00 17.66
indexConst.COMPANY 7.28 1.45 0.88 24.63 0.00 0.00 14.92
indexConst.COMPANY 12.65 3.12 0.55 21.23 0.00 0.00 14.53
indexConst.COMPANY 13.84 4.17 0.43 25.43 0.00 0.00 8.75
indexConst.COMPANY 15.48 1.62 0.72 29.65 0.00 0.00 3.63
indexConst.COMPANY 29.65 5.76 0.27 23.91 0.00 0.00 15.44
indexConst.COMPANY 18.75 2.43 0.58 27.34 0.00 0.00 9.35
indexConst.COMPANY 13.75 1.93 0.70 21.85 0.00 0.00 11.87

Other Indices

INDEX NAME MARKET VALUE 52W HIGH 52W LOW
Nifty Next 50 68070.50
(-0.6931%)
69599.65 41804.85
Nifty Bank 48501.35
(-1.3040%)
49974.75 42105.40
Nifty 50 22704.70
(-0.8015%)
23110.80 18464.55
Nifty 100 23687.70
(-0.7799%)
24106.85 18380.25
BSE Small-Cap 47542.62
(0.0%)
48353.57 30208.91
BSE Sensex 74502.90
(-0.8880%)
76009.68 62359.14
BSE Mid-Cap 43352.41
(0.0%)
43986.38 26805.74
BSE 100 23971.93
(-0.7606%)
24393.66 18852.75

Bank Nifty Index Performance

Top Performing

Company Name LTP MCAP Change Percentage
AU Small Finance Bank Ltd 648.30 47,263.77 1.88
IndusInd Bank Ltd 1,460.25 113,539.18 0.06
Bandhan Bank Ltd 191.70 30,656.76 0.74
Punjab National Bank 128.05 140,996.05 -0.12

Under Performing

Company Name LTP MCAP Change Percentage
HDFC Bank Ltd 1,508.30 1,162,707.18 -1.45
ICICI Bank Ltd 1,102.00 792,175.87 -2.21
Axis Bank Ltd 1,159.75 365,059.13 -2.00
Kotak Mahindra Bank Ltd 1,687.85 338,393.83 -0.93
State Bank of India 822.65 741,546.01 -1.02
Federal Bank Ltd 159.50 39,026.08 -0.31
IDFC First Bank Ltd 77.15 55,202.76 -1.03
Bank of Baroda 263.40 136,679.10 -0.34

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What is Bank Nifty?

The Bank Nifty index is also referred to as "Nifty Bank." IISL (India Index Service and Product Limited) launched the index in the year 2000. The index's base date is January 1, 2000, and its base value is 1000 points. The NSE created the nifty bank index to assist investors and other intermediaries in making better decisions by displaying the benchmark of the Indian capital market.

The Nifty Bank index is made up of 12 large-cap and liquid Indian banking stock companies. It displays the underlying banks' performance. The Bank Nifty index includes private and public sector banks and is widely traded in the derivative markets. There is a favourable relationship between the Nifty and the nifty bank index. It has a significant weightage in the Nifty index. Nifty Bank's current lot size for trading purposes is 25 units. Nifty bank options were the first to be traded weekly and offer good trading opportunities.

The Nifty bank list of companies (constituents) is reshuffled every six months on January 01 and July 01. When rebalancing, the average data of six months is considered for revaluation. The top stocks of the index as per the data in February 2024 include HDFC Bank Ltd. (37.41%), ICICI Bank Ltd. (24.48%), Axis Bank Ltd. (10.25%), Kotak Mahindra Bank Ltd. (9.08%), and State Bank of India (8.31%). The other companies in Nifty bank include-

IndusInd Bank, AU Small Finance Bank Ltd., Bandhan Bank, Federal Bank, IDFC First Bank Ltd., Punjab National Bank (PNB), and Bank of Baroda.

Nifty Bank FAQs

The Bank Nifty Index is a benchmark index that tracks the performance of the Indian banking sector. It includes stocks of the banking sector listed on the National Stock Exchange (NSE). The top 12 banks in terms of market capitalization get added to the Bank Nifty Index.

The Nifty Bank Index was launched in the year 2000. The Index has climbed from 5195 at the start of January 2009 to over 48,000 by the end of 2023.

Nifty Bank comprises the banking stocks listed on the NSE. These stocks may include both public-sector and private-sector banks. At present, the index has 12 companies, including banking giants like HDFC Bank and ICICI Bank. It also has smaller banks like AU Small Finance Bank and Federal Bank. You can check all the companies that are part of the Nifty Bank index in the below image.

Nifty Bank works by providing investors and traders with a benchmark to assess the performance of the banking sector. It is calculated based on the stock prices of select banking companies listed on the NSE.  If the underlying stocks of the index move up, the index rises and vice-versa. The market sentiment related to the banking industry is reflected in the rise or fall of the Bank Nifty index.

To buy the Nifty Bank index, you may need a Demat and a trading account (ETF buying). You will find exchange-traded funds or ETFs that are listed on the stock exchanges. You can find them on ICICIDirect and make an investment.

Alternatively, you can index in the Nifty Bank index via mutual funds. You can find the index on the ICICIDirect.

The performance of the Bank Nifty index depends on various factors such as interest rates, economic indicators, government policies, and global market trends that affect the companies from the banking sector that are included in the Index

The trading cycle for Bank Nifty futures contracts follow a 3-month cycle - the near month, the next month and the month after that. And a new contract is introduced on the trading day that follows the expiry of the near month contract. One can, however, hold Bank Nifty ETFs indefinitely.

Yes, one can buy Bank Nifty Contract today and sell it tomorrow

The Bank Nifty index is calculated using a free-float market capitalization-weighted methodology. This means that the index value is based on the market capitalization of its constituent stocks, adjusted for the available free float (available shares for trading). The calculation involves multiplying the free-float market capitalization of each bank by its weightage in the index, derived from its proportion in the total market capitalization of all Bank Nifty stocks. 

The sum of these individual values is then divided by the index's base value. The resulting figure represents the Bank Nifty index value. As stock prices and market capitalizations change, the index is recalculated periodically to reflect the latest market conditions and the relative importance of individual banks in the index.

To trade in Bank Nifty, investors can use various financial instruments such as futures, options or exchange-traded funds (ETFs). In order to trade in Bank Nifty via these instruments, one needs a demat and a trading account. With ICICI Direct, traders can take positions based on their market outlook and trading strategies to trade in Bank Nifty.

Bank Nifty includes stocks of 12 major banking companies listed on the NSE. These 12 banks have a high market capitalisation and are the most active banking stocks on the NSE.

The Bank Nifty contracts expire weekly on every Thursday and they expire monthly on the last Thursday of each month.

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Disclaimer

ICICI Securities Ltd.( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470.  I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  Investments in securities market are subject to market risks, read all the related documents carefully before investing. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents are solely for informational and educational purpose.