My last article was about the weight of stocks in NSE Nifty index, in this article, I will tell the weight of stocks in the Bank Nifty index. Bank Nifty index is most active the index traded on NSE based on the prices of 12 banks, below are the stocks along with their weightage. This weight can help us in identifying what would be the direction (Uptrend or Downtrend) of the index if the major banking stocks like HDFCBANK, ICICIBANK or KOTAKBANK moves.
Latest Update 31 July 2018 (Next update on 31 Jan 2019):
|# Sl No||Stock Name||Weightage in %|
|1.||HDFC Bank Ltd||35.56|
|2.||ICICI Bank Ltd||15.52|
|3.||Kotak Mahindra Bank Ltd||13.83|
|4.||State Bank of India||8.73|
|5.||IndusInd Bank Ltd||8.08|
|6.||Axis Bank Ltd||7.51|
|7.||Yes Bank Ltd||5.38|
|8.||RBL Bank Ltd||1.70|
|9.||Federal Bank Ltd||1.39|
|10.||Bank of Baroda||1.16|
|12.||Punjab National Bank||0.46|
You can also refer to the past weight data below:
- State Bank of India 24.89
- HDFC Bank 21.64
- ICICI Bank 16.44
- Kotak Mahindra Bank 7.27
- Axis Bank 7.21
- Bank of Baroda 4.93
- Punjab National Bank 4.50
- Bank of India 3.42
- Canara Bank 3.16
- IndusInd Bank 2.54
- Yes Bank 2.01
- Union Bank 1.97
In the above list first 5 stocks have the highest weight in bank nifty index, so most of the time trend of these five must be considered as the trend of bank nifty index. Do you want to know how the index is calculated? Do read these books. BankNifty is one of the most liquid and highly popular traded indexes.
A small fluctuate in the top 4-5 stocks can move bank nifty in much higher proportion. As top 3 banking stocks contribute to 65% of total weight. Recently we saw the private sector banks rising after the recent quarterly result. You can easily trade bank nifty options as they are liquid too and bank nifty options have a weekly expiry.
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