NSE launches Nifty Waves index to track India's media, entertainment, and gaming stocks
Unveiled by Maharashtra CM Devendra Fadnavis at WAVES 2025 in Mumbai, the new index comprises 43 companies including Nazara Technologies, Zee Media, and PVR Inox.
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The National Stock Exchange (NSE) on May 2 officially launched the Nifty Waves index, a dedicated stock market index to track the performance of India's media, entertainment, and gaming sector.
The unveiling took place at the World Audio Visual & Entertainment Summit (WAVES) 2025, being held at the Jio World Centre, Mumbai, from May 1 to 4.
The ceremonial launch was marked by Maharashtra Chief Minister Devendra Fadnavis, ringing the symbolic NSE bell. The event was also attended by Ashish Kumar Chauhan, Managing Director and CEO of NSE, alongside other key dignitaries from the industry and government.
The Nifty Waves index includes 43 companies drawn entirely from the media, entertainment and publication segments, with a base value of 1,000 and each stock's weight capped at 5% to ensure balanced representation.
Among the top constituents are Nazara Technologies, Zee Media, Hathway Cable & Datacom, TV Today Network, Saregama India, PVR Inox, and Network18 Media, reflecting the diverse growth within India's content and streaming ecosystem.
"Nifty Waves now consists of 43 companies, but over a period it could become 10 or hundred times more going forward," said NSE CEO Ashish Kumar Chauhan, highlighting the long-term growth potential of the sector.
CM Fadnavis remarked, "I am very delighted that WAVES 2025 was organised here in Mumbai. Maharashtra government has signed many MoUs and most important MoUs signed are with NSE," underscoring the state's commitment to positioning Mumbai as a global hub for media and entertainment.
