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India Index Services and Products, a subsidiary of the NSE, on Friday launched 72 fixed income and three hybrid indices under the Nifty Fixed Income index series.
These indices will be based on fixed income assets, including corporate bonds, government bonds, commercial papers, and equities too, in the case of hybrid indices, said a press release from IISL.
“These indices will be crucial in deepening of the fixed income markets in India by helping market participants in accurately measuring and efficiently managing risks and returns in fixed income investments,” added the release.
The NIFTY Fixed Income Index series comprises 72 indices covering a universe of fixed income assets, including government securities, T-bills, corporate bonds of different credit rating categories, commercial papers, certificate of deposits and overnight rate. The series also includes various composite indices that are aggregates of these fixed income asset indices. The NIFTY Hybrid Index series comprises three indices that blend Nifty 50 and the new composite fixed income indices in various proportions to reflect performance of hybrid portfolios investing in both asset classes.
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