NCDEX launches NDEX and FINNDEX to expand into equity benchmarks

NCDEX has expanded beyond its commodities focus with the launch of NDEX and FINNDEX, two new equity indices intended to provide benchmarks for key areas of the Indian stock market.

The indices cover large Indian stocks and financial services, giving NCDEX a presence in equity benchmarking alongside its existing commodities activity.

Two new equity benchmarks

NDEX and FINNDEX are based on a diversified, multi-factor selection methodology. The approach is designed to select constituents using multiple factors rather than relying on a single market measure.

NDEX provides a benchmark focused on large Indian stocks, while FINNDEX covers the financial services segment. Together, the indices extend NCDEX’s benchmark offering into broader equity markets.

Expansion beyond commodities

The launch marks a move by NCDEX into equity indices. By introducing benchmarks for both large-cap stocks and financial services, the exchange is broadening the areas covered by its index products.

The new indices also create distinct reference points for the segments they represent. Their diversified, multi-factor construction is a central feature of the offering.

What the launch means

NDEX and FINNDEX give the market two additional equity benchmarks from NCDEX. The launch reflects the exchange’s expansion into equity-focused products while retaining coverage across clearly defined market segments.