Mumbai, Aug. 6 -- NSE's index services subsidiary NSE Indices has launched a new strategy index - Nifty Total Market Momentum Quality 50 index that aims to track the performance of a 50-stock portfolio selected based on a combination of momentum and quality factors from the Nifty Total Market.

The momentum score for each company is determined based on its 6-month and 12-month price return, adjusted for volatility. The quality score for each company is determined based on return on equity (ROE), financial leverage (debt/equity ratio) and earnings (EPS) growth variability analyzed during the previous 5 years.

The weight of each stock in the index is based on a combination of its composite factor score and free float market capitalization ...