NSE INDICES LAUNCHES NIFTY SUGAR & ETHANOL, NIFTY SMALL FINANCE BANKS & MFIS INDICES

NSE Indices, a subsidiary of the National Stock Exchange, has launched two new thematic indices - Nifty Sugar & Ethanol and Nifty Small Finance Banks & Microfinance Institutions (MFIs) - to track the performance of key sectors within the Indian economy.

The Nifty Sugar & Ethanol Index comprises 15 stocks from the FMCG sector that are directly engaged in sugar or ethanol manufacturing and production. The index is designed to track the performance of the largest eligible companies based on six-month average free-float market capitalisation.

The Nifty Small Finance Banks & Microfinance Institutions Index includes 10 listed small finance banks and microfinance institutions and aims to capture the performance of the most liquid stocks in the segment.

For both indices, the weight of each constituent is based on free-float market capitalisation, subject to a maximum cap of 15% per stock. The indices have a base date of 31 March 2021 and a base value of 1,000.

As of 29 May 2026, the Nifty Sugar & Ethanol Index delivered a total return of 18.98% since inception (31 March 2021). Over the past five years, the index generated a total return of 11.24%. However, it declined 9.42% on a one-year basis.

The Nifty Small Finance Banks & Microfinance Institutions Index posted a total return of 5.37% since inception (31 March 2021). The index delivered a one-year return of 14.79%, while its five-year return stood at 7.07%.

The indices will be reconstituted semi-annually and rebalanced quarterly in March, June, September and December. NSE Indices said the benchmarks are expected to support the development of passive investment products such as exchange-traded funds (ETFs), index funds and structured products, while also serving as reference benchmarks for asset managers.