Oil and gas

The Nifty Oil and Gas index is a sectoral index on the National Stock Exchange (NSE) of India that tracks the performance of companies in the oil, gas, and petroleum industry. The index is designed to reflect the behavior and performance of the sector and is used for benchmarking, launching index funds, ETFs, and structured products. Key Features of the Nifty Oil and Gas Index Composition: The index comprises up to 15 of the largest and most liquid companies listed on the NSE that are involved in oil exploration, refining, gas transmission, marketing, and related activities. Weighting: Stocks are weighted by their free-float market capitalization, with caps to prevent overconcentration. For example, no single stock can exceed a 33% weight, and the top three stocks collectively cannot exceed 62% at the time of rebalancing. Rebalancing: The index is reconstituted semi-annually, with data cutoff dates on January 31 and July 31. Changes are effective from the last trading days of March and September. Eligibility: Companies must be part of the Nifty 500, have a minimum trading frequency, and meet other liquidity and market cap criteria. Top Constituents: The index is typically dominated by large companies such as Reliance Industries, Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and GAIL (India).