Mumbai, March 11 -- NSE Indices, a subsidiary of the National Stock Exchange (NSE), has unveiled a new sectoral index, the Nifty Chemicals Index, designed to track the performance of companies within the chemicals sector.

The index will focus on the top 20 stocks from the Nifty 500 that belong to the chemicals industry, selected based on their six-month average free-float market capitalization. Preference will be given to stocks available for trading in the derivatives segment on the NSE.

Stock weightage within the index is determined by free-float market capitalization, with a single stock cap of 33% and a combined cap of 62% for the top three stocks. The index has a base date of 1 April 2005, and a base value of 1000. It will undergo ...