The Re balance in the Momentum index
Rebalance in the Nifty 200 Momentum 30 Index will be done after the last trading day of June and December .
That means every 1st Jan and 1st July the index will be rebalanced and the index will have a set of changes as per the momentum score. A Brief post about the index.
The motto of the rebalance is to align the index with the momentum stocks in the market.
In the recent term from 1st Jan 2024 till 28th June 2024. This index has clearly outperformed Nifty50 and other major indexes like Nifty Small Cap and Nifty Midcap.
On July 1st, 13 new stocks made into the momentum index.
ABB India
Adani Ports
Airtel
BOSCH
CUMMINS
Dixon
Indus Tower
Motherson sumi
Mahindra and Mahindra
Oracle Financial Services
Siemens
Tata Power
Vedanta Limited.
Stocks that are removed from the the index are: TVS Motors, Aurobindo pharma, IPCA labs, Poly cab, Escorts, LnT, Alkem labs, Colgate, Sun Tv, DRReddys, DLF, Ramco Cements
On July 1st Index is trading at P/E of 24.36.
Major Sector in the index are Automobile and Capital goods, with 23% each in the index.
List of AMC's with Mutual funds on this index:
UTI AMC
HDFC AMC
Bandhan AMC
ICICI Prudential AMC
Motilal Oswal AMC
Kotak Mahindra AMC.
Around 10,000 Cr is the AUM for this index.
From the NFO of UTI fund in 2021, Index has given a ABS returns of 138%.
#Investing #Nifty200 #MomentumInvesting #IndexRebalance #MarketTrends #FinancialNews
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