There are a total of 12 banks listed under Nifty Bank Index. These banks are HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, AXIS Bank, IndusInd Bank, Bandhan Bank, Bank of Baroda, AU Small Fin Bank, and Punjab National Bank, IDFC Bank and Federal bank.
Nifty Bank index, also known as Bank Nifty, is an index made up of the most liquid and highly capitalized Indian banking stocks that accurately reflects the performance of Indian bank stocks in the capital markets.
Which banks are listed under Nifty Bank Index?
The Nifty Bank index has 12 stocks from the banking sector which are as follows:
1.HDFC Bank
HDFC Bank is the largest private sector bank in India by assets and the tenth largest bank in the world by market capitalization as of April 2021.
- NSE Symbol : HDFCBANK
- Weightage : 25.71 %
2. ICICI Bank
ICICI Bank Limited is a Vadodara-based multinational bank and a provider of financial services.
- NSE Symbol : ICICIBANK
- Weightage : 24.34 %
3. SBI Bank
State Bank of India is the 221st-ranked bank on the Fortune Global 500 list of the largest companies in the world, making it the world’s 43rd-largest bank.
- NSE Symbol : SBIN
- Weightage : 11.29 %
4. Kotak Mahindra Bank
Kotak Mahindra Bank Limited provides banking products and financial services in the areas of personal finance, investment banking, and life insurance to corporate and retail clients.
- Weightage : 11.10 %
- NSE : KOTAKBANK
5. Axis Bank
Axis Bank Limited is an Indian banking and financial services. It offers financial services to big and small businesses, SMEs, and retail outlets.
- NSE Symbol : AXISBANK
- Weightage : 11.56 %
6. IndusInd Bank
IndusInd Bank Limited is a Mumbai-based financial services provider in India. The bank provides products and services for commercial, transactional, and electronic banking.
- NSE Symbol : INDUSINDBK
- Weightage : 5.92 %
7. Bank of Baroda
Bank of Baroda is India’s second-largest PSB in terms of market cap and business after SBI.
- NSE Symbol : BANKBARODA
- Weightage : 2.00 %
8. Bandhan Bank
Bandhan Bank Ltd. is a Kolkata-based provider of banking and financial services. It has 5,639 banking locations and more than 2.63 crore customers across 34 of India’s states and union territories.
- NSE Symbol : BANDHANBNK
- Weightage: 1.58 %
9. AU Small Fin Bank
AU Small Finance Bank provides financial services to low- and middle-income people as well as micro and small businesses that have little to no access to conventional banking and financing systems.
- NSE Symbol : AUBANK
- Weightage : 2.46 %
10. Punjab National Bank
Punjab National Bank was founded in May 1894 and is currently the second-largest government-owned bank in India in terms of network size and business volume.
- NSE Symbol : PNB
- Weightage : 2.42 %
11. IDFC First Bank
- NSE Symbol : IDFCFIRSTB
- Weightage : 2. 11 %
12. The Federal Bank
Federal Bank provides banking and financial services, it is also involved in treasury operations, corporate banking, and retail banking.
- NSE Symbol : FEDERALBNK
- Weightage : 1.92 %
Are the banks permanent under the Nifty Bank Index?
No, these banks are not permanent. As part of the index rebalancing process, the banks are added and removed based on their performance. The Nifty Bank Index is re-balanced on a semi-annual basis. The cut-off date for this is January 31 and July 31 of each year.