CNX Nifty Junior
The next rung of liquid securities after CNX Nifty is the CNX Nifty Junior. It may be useful to think of the CNX Nifty and the CNX Nifty Junior as making up the 100 most liquid stocks in India.
As with the CNX Nifty, stocks in the CNX Nifty Junior are filtered for liquidity, so they are the most liquid of the stocks excluded from the CNX Nifty. The maintenance of the CNX Nifty and the CNX Nifty Junior are synchronized so that the two indices will always be disjoint sets; i.e. a stock will never appear in both indices at the same time. Hence it is always meaningful to pool the CNX Nifty and the CNX Nifty Junior into a composite 100 stock index or portfolio.
- The CNX Nifty Junior Index represents about 12.78% of the free float market capitalization of the stocks listed on NSE as on December 31, 2013.
- The total traded value for the last six months December 2013 of all index constituents is approximately 20.23% of the traded value of all stocks on NSE.
- Impact cost for CNX Nifty Junior for a portfolio size of Rs.25 lakhs is 0.08% for the month December 2013.
From May 04, 2009, CNX Nifty Junior is computed based on free float methodology.