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Nifty50 turns 25 - Nifty50 completed 25 years of its journey on 22 April 2021 April 24 2021Nifty50, Nifty 50 new entry 2021

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On April 22, India's flagship stock index, the Nifty50 celebrated its 25th anniversary. The equity barometer was founded on April 22, 1996, and its components have changed significantly since then, indicating the country's changing business-economic dynamics.

The Nifty50 is a benchmark equity index that represents the weighted average of India's top 50 firms, across industries, that are listed on the National Stock Exchange (NSE). Many index components leave the group over time, while new ones join.

Nifty has come a long way since its inception in April 1996, when it traded at 1,107, with the base year set at 1,000 in November 1995. On February 8, 2021, the Nifty closed above the psychological threshold of 15,000 for the first time in history.

With the shift in the economy from manufacturing to services and the growth of the private sector over the last three decades, the sectoral representation in 2021 is vastly different from that of 1996. 13 companies have been a part of the Nifty's journey since its inception: HDFC Bank, RIL, HDFC, ITC, HUL, L&T, SBI, Tata Motors, Dr Reddy's Labs, Tata Steel, Grasim, Hero, and Hindalco.

Between April 1996 and February 2021, the aggregate market capitalization of these 13 companies increased at an annual rate of 18 percent. Between April 1996 and February 2021, the Nifty's average P/E multiple was 15.7 times; however, the average for the last ten years is 18.8 times. The Nifty has produced 11.1 percent CAGR on its path from 1,107 to 15,000 in the last 25 years (up around 14 times).

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