The Nifty Waves Index is the latest addition to NSE’s family of thematic indices, capturing the vibrant momentum of India’s fast-growing media, entertainment, and gaming sectors. Launched on May 2, 2025, during the WAVES Summit in Mumbai, the index provides a dedicated benchmark to measure the performance of the creative economy in India.
What Is the Nifty Waves Index?
The Nifty Waves Index is a thematic equity index developed by NSE Indices Ltd. It comprises 43 listed companies from sectors including:
- Media and Broadcasting
- Entertainment and Cinema
- Gaming and Interactive Content
- Publishing and Print Media
These companies are selected from eligible basic industries and represent India’s most innovative and culturally influential enterprises.
Purpose and Significance
India’s creative economy is on a global rise, contributing significantly to employment, innovation, and exports. The Nifty Waves Index:
- Helps investors track the performance of this dynamic sector
- Provides a data-driven tool for policymakers and analysts
- Offers a benchmark for mutual funds and ETFs focused on entertainment, media, and gaming
- Supports long-term growth by highlighting investment opportunities in India’s digital content revolution
Key Features of the Nifty Waves Index
| Feature | Details |
|---|---|
| Launch Date | May 2, 2025 |
| Number of Constituents | 43 companies |
| Sector Focus | Media, Entertainment, Gaming |
| Weighting Method | Free-float market cap weighted with 5% cap per stock |
| Base Date & Value | April 1, 2005 (Base Value: 1000) |
| Index Type | Price Return Index (PRI) and Total Return Index (TRI) available |
Top Companies in the New Nifty Index
Some of the major companies included in the Nifty Waves Index are:
- Nazara Technologies (largest weightage)
- Zee Entertainment Enterprises
- Saregama India
- PVR Inox
- TV Today Network
- Hathway Cable & Datacom
- Network18 Media
These firms are leading players in digital content creation, OTT platforms, gaming, and traditional broadcasting.
Why Investors Should Watch the Nifty Waves Index
- High Growth Potential: With digital consumption surging, especially post-pandemic, media and entertainment firms are witnessing rapid growth.
- Diversified Exposure: The index includes a mix of established players and emerging innovators.
- Thematic Investment: Perfect for investors looking to capitalize on India’s cultural and digital content boom.
- Supports ESG and IP-focused Investing: Many constituents are aligned with sustainable content creation and intellectual property development.
Global Relevance
The index launch at the World Audio Visual and Entertainment Summit (WAVES 2025) underscores India’s vision of becoming a global hub for media, entertainment, and gaming. With international collaborations and investment on the rise, the index can help global investors tap into India’s soft power.
How to Track the Nifty Waves Index
You can follow the daily movements and constituents of the Nifty Waves Index via:
The new Nifty Index is more than just a stock market benchmark—it is a reflection of India’s creative ambition. As the country continues to grow as a digital-first, content-driven economy, this index will play a pivotal role in attracting investments and showcasing the strength of India’s media and entertainment sector.
If you’re a long-term investor, mutual fund manager, or just passionate about the creative economy—keep an eye on the New Nifty Index.