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Nifty Commodities is a thematic index launched on September 07, 2011, by the National Stock Exchange (NSE). The index represents a curated list of 30 companies from the commodities segment, including sectors like metals, mining, energy, chemicals, oil and gas, cement, and sugar, among others.
As of November 29, 2024, the index's sectoral distribution was: Oil, gas, and consumable fuels: 27.74%; Metals and mining: 24.46%; Power: 22.71%; Construction materials: 16.23%; Chemicals: 7.42%; Capital goods: 1.45%.
The Nifty Commodities index is calculated using the free-float market capitalisation method and is reviewed and rebalanced semi-annually on January 31 and July 31.
The company must be a part of the Nifty 500 index at the time of review and its business must be focused on the commodities sector.
The company's trading frequency must be at least 90% in the last six months, and it must have been listed on the exchange for at least 1 month at the time of review.
The final inclusion of the eligible companies into the Nifty Commodities stock list is done based on free-float market capitalisation, with companies having higher free-float market capitalisation preferred.
The value of Nifty Commodities is determined using the free-float market capitalisation methodology. The formula is: Nifty Commodities Index Value = Free-Float Market Capitalisation of the Index ÷ (Base Free Float Market Capitalisation * Base Index Value), where the base index value is 1,000. Here, the capping factor for the Nifty Commodities index is 10% or 0.1.
The Nifty Commodities stock list is reviewed semi-annually and adjustments are made to ensure the index remains aligned with market movements.