The National Stock Exchange has introduced the Nifty Waves Index, a stock market benchmark designed to track the performance of companies in India’s media, entertainment, and gaming industries. Launched during the World Audio Visual and Entertainment Summit (WAVES) 2025 in Mumbai, the index includes 43 companies exclusively from the media, entertainment, and publication sectors, holding a combined weightage of 100 percent. The base value of the index has been set at 1,000, providing investors and industry stakeholders with a clear reference point for evaluating market trends within the creative economy.
Ashish Kumar Chauhan, managing director and chief executive officer of the National Stock Exchange, emphasized the index’s growth potential, stating that the number of companies featured could expand significantly in the future. He described the Nifty Waves Index as a key benchmark for unlocking India’s creative economy, offering insight into market shifts and industry dynamics.
Maharashtra Chief Minister Devendra Fadnavis welcomed the launch of the index, expressing his enthusiasm for WAVES 2025 being hosted in Mumbai. He highlighted India’s growing influence in the global creative industry, citing storytelling, music, fashion, and innovation as key drivers of the country’s expanding soft power. Fadnavis stressed that the Maharashtra government had signed multiple agreements, including those with the National Stock Exchange, to further solidify the state’s commitment to fostering media and entertainment enterprises. He described the Nifty Waves Index as a crucial tool for measuring success in the sector and inspiring entrepreneurial initiatives.
To maintain balance within the index, the National Stock Exchange has capped the weight of each individual stock at five percent, ensuring diversification and reducing the potential for market volatility. The weight of each listed company in the index is determined based on free-float market capitalization, providing an accurate representation of industry leaders and emerging firms. The index is set to be reconstituted twice a year and rebalanced quarterly to reflect the latest market developments.
The introduction of the Nifty Waves Index underscores the growing significance of India’s creative economy and its role in shaping global media and entertainment trends. By offering a specialized tracking mechanism, the index is expected to enhance investor confidence, promote industry transparency, and facilitate strategic decision-making for companies operating in the sector. As India continues to position itself as a leader in digital content, film production, gaming, and artistic innovation, the index serves as a milestone in recognizing and formalizing the economic value of the country’s thriving entertainment industry.
