Top Performing Nifty Fifty Stocks In India 2023
What is Nifty Fifty?
The NIFTY 50 is a benchmark Indian stock market index which indicates the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange which is also known as NSE. The larger companies have a greater impact on the index value. This simply means that the Nifty 50 reflects the overall performance of the Indian stock market, due to the factor that Nifty 50 comprises the country’s most significant and well-performing companies.
The management and regulations of Nifty 50:
The Nifty 50 benchmark index is managed as well as authorized by the National Stock Exchange of India(NSE).
Features of Nifty Fifty Companies
One of the main features of the Nifty 50 is its ability to act as a measure for the entire stock market. As the index represents a diverse range of companies from various sectors, it provides a comprehensive view of the market’s performance. Therefore, investors and market analysts make use of the Nifty 50 to observe and record the direction and movements of the stock market. This helps the investors and market analysts in making informed investment decisions as to which company is the right one to invest at what time window.
It is advised to invest in Nifty fifty companies as NIFTY 50 is ideal for derivatives trading and every wise investor and those who watch the markets closely have an idea of the same.
Additionally, the Nifty 50 is widely used by mutual fund companies as a benchmark for tracking the performance of their actively managed funds or their investors’ funds. By comparing their funds’ performance to the Nifty 50, fund managers can assess how well their investments are performing relative to the overall market. This helps investors make more informed decisions about which funds to invest in, based on their performance relative to the market.
As per NSE’s report in 2022, the total traded value of NIFTY 50 index for the previous six months ending September 2022 is approximately 41% of the traded value of all stocks on the NSE. Impact cost of the NIFTY 50 for a portfolio size of Rs.50 lacs is 0.02% for the month September 2022. NIFTY 50 is ideal for derivatives trading.
Key Steps you Need to Follow to Calculate Nifty 50
Initially, Nifty 50 was calculated on the basis of complete market capitalization. Although, from June 2009, it is calculated on a free-float market cap basis. This means that the stocks from the promoter of the Nifty 50 companies are not included in the particular calculation. The reason behind this is that the stocks of promoters are not available for trading freely. Below is the widely used formula for calculating Nifty 50:
Nifty 50 = Current Market Value ÷ (Base Market Capital * 1000)
When you calculate Nifty 50, keep in mind the following things:
Base value of Nifty 50 Index = 1000 points.
Base Capital of Nifty 50 = Rs. 2.06 Trillion
Base Date for Computed Nifty 50 Index = November 1995.
Top 36 Best Performing Nifty Fifty Stocks 2023
Listed below in the table are some of the top companies that have performed well in terms of Sensex and the data is from March, 2023. Take a look below:
|1||Reliance Industries Limited||Conglomerate||4,451.56|
|2||Tata Consultancy Services Limited||IT||5,253.31|
|3||HDFC Bank Limited||Banking and finance||2,698.42|
|4||Hindustan Unilever Limited||FMCG||3,140.95|
|6||ICICI Bank Limited||Banking and finance||1,510.72|
|7||Kotak Mahindra Bank Limited||Banking and finance||2,134.06|
|8||Bajaj Finance Limited||NBFC||1,816.62|
|9||Housing Development Finance Corporation Limited||NBFC||1,964.35|
|10||Asian Paints Limited||Paints||2,117.48|
|11||Larsen & Toubro Limited||Engineering and construction||2,783.63|
|12||State Bank of India||Banking and finance||1,044.03|
|13||Bharti Airtel Limited||Telecom||1,238.54|
|14||Mahindra & Mahindra Limited||Automobile||1,381.74|
|16||Titan Company Limited||Jewelry and watches||1,464.29|
|17||Nestle India Limited||Food Processing||1,704.45|
|18||Maruti Suzuki India Limited||Automobile||1,638.57|
|19||UltraTech Cement Limited||Cement||1,877.92|
|20||Axis Bank Limited||Banking and finance||860.29|
|21||HCL Technologies Limited||IT||1,439.25|
|22||Oil and Natural Gas Corporation Limited||Oil and gas||1,202.83|
|23||Power Grid Corporation of India Limited||Power||1,406.22|
|24||Tata Steel Limited||Steel||1,285.33|
|25||Tech Mahindra Limited||I.T||1,185.11|
|28||Adani Ports and Special Economic Zone Limited||Ports||1,123.79|
|29||Coal India Limited||Coal||862.05|
|30||JSW Steel Limited||Steel||1,073.14|
|31||Bajaj Auto Limited||Automobile||1,267.28|
|32||Tata Motors Limited||Automobile||637.88|
|33||Bharat Petroleum Corporation Limited||Oil and gas||1,048.09|
|34||Sun Pharmaceutical Industries Limited||Pharmaceuticals||1,278.42|
|35||Indian Oil Corporation Limited||Oil and gas||788.95|
|36||Grasim Industries Limited||Cement||1,292.75|
To sum what we learned in the article, the Nifty 50 is an important indicator of the Indian stock market’s performance. Its diverse range of top-performing companies makes it an excellent measure for the overall market movements. Furthermore, mutual fund companies use it as a benchmark to track and record the performance of their funds. Not only that but it also enables investors in making informed decisions about their investments. We also learned that The Nifty 50 benchmark index is managed as well as authorized by the National Stock Exchange of India. (NSE), what are the main features of Nifty FIfty, and how can we calculate Nifty Fifty using the formula as we saw earlier in this article.
Nifty 50 is calculated by taking the weighted value of the 50 best performing stocks listed on NSE (The National Stock Exchange of India) and is based on free-float market capitalization as we discussed before.
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