National Commodities and Derivatives Exchange Enters Equity Space With Two New Rule-Based Indices

Key facts

• NCDEX, formerly known as National Commodities and Derivatives Exchange, launched two rule-based equity indices, NDEX and FINNDEX, on October 22, 2026, marking its entry into the equity and equity derivatives markets.
• The indices use a multi-factor weighting approach: free-float market capitalisation 30 per cent, average daily traded value 30 per cent, beta 20 per cent and volatility 20 per cent.
• NDEX comprises 20 large, liquid Indian equities selected from the top 60 NSE-listed companies, while FINNDEX tracks 15 financial-sector stocks, excluding insurance companies, from the top 40 eligible companies.
• The indices are owned by NCDEX Ltd and will be calculated and maintained by NSE Indices Ltd.
• They will be reviewed and rebalanced twice a year in March and September, with each stock capped at 15 per cent weight.
• Their base month is January 2010 with a base value of 10,000, and index values will be disseminated in real time during market hours.