Nifty Waves Index: Riding the Creative Economy Wave

The NSE has launched the Nifty Waves Index, featuring 43 companies in the media, entertainment, and gaming sectors, at the WAVES 2025 summit in Mumbai. With a base date of April 2005, the index will be rebalanced quarterly to reflect India's dynamic creative industry.

In a significant development at the WAVES 2025 summit in Mumbai, the National Stock Exchange (NSE) introduced the Nifty Waves Index, encompassing 43 listed companies from the media, entertainment, and gaming industries. The index was launched by Maharashtra Chief Minister Devendra Fadnavis at the World Audio Visual and Entertainment Summit (WAVES).

The Indian media and entertainment industry is witnessing an exciting transformation, characterized by creative innovation and rapid technological adoption across diverse platforms such as film, television, digital, music, and gaming. The Nifty Waves Index weights each stock by free float market capitalization, with a 5% cap. Set on a base date of April 1, 2005, with a value of 1000, it will be reconstituted semi-annually and rebalanced quarterly.

NSE's MD and CEO, Ashishkumar Chauhan, expressed pride in introducing the index, emphasizing its role in understanding market trends and tapping into India's creative economy. Maharashtra Chief Minister Devendra Fadnavis remarked on India's potential to export its imagination and culture. Meanwhile, Prime Minister Narendra Modi inaugurated the ambitious WAVES summit, which aims to position India as a media and entertainment hub by integrating various sectors and unlocking a $50 billion market by 2029.

(With inputs from agencies.)