Bank Nifty Stocks List with Weightage in 2024

Bank Nifty Stocks List with Weightage is given in the table below. This post not only contains Bank nifty weightage, but an overall general information about what Bank Nifty is and how it works.

What is Bank Nifty Index?

The bank nifty is a stock index consisting of top 12 banking stocks in India. The bank nifty index is often used as a benchmark tool to view how the entire banking sector in India is performing. The index is maintained by NSE. The top index heavyweights such as HDFC bank, ICICI bank, AXIS Bank, SBI bank, Kotak Mahindra bank, IndusInd bank are also a part of Nifty 50 index. Bank nifty stocks and their weightage along with their trading symbols are given below.

Bank Nifty is also known as Nifty Bank Index.

Bank Nifty Stocks List With Weightage:

Refer the table below for bank nifty stocks weightage as of April 3, 2024. The highest weightage is given to HDFC bank at 29% followed by ICICI bank at 23.7%. Bank nifty bank index consist of 12 banking stocks they are given in the table below.

No.	Bank Name	NSE Symbol	Weightage
1	HDFC Bank Ltd.	HDFCBANK	29%
2	ICICI Bank Ltd.	ICICIBANK	23.7%
	Axis Bank Ltd.	AXISBANK	9.19%
3	State Bank of India	SBIN	9.14%
5	Kotak Mahindra Bank Ltd	KOTAKBANK	9.11%
6	IndusInd Bank Ltd.	INDUSINDBK	6.92%
7	Bank of Baroda	BANKBARODA	3.31%
8	Punjab National Bank	PNB	2.49%
9	Federal Bank Ltd.	FEDERALBNK	2.27%
10	IDFC First Bank Ltd.	IDFCFIRSTB	2%
11	AU Small Finance Bank Ltd	AUBANK	1.83%
12	Bandhan Bank Ltd.	BANDHANBNK	1%

How to Invest in Bank Nifty?

Top invest in bank nifty you can buy the individual stocks at their given weightage or buy index funds or ETF funds.

List of Bank Nifty ETF:

To buy bank nifty ETF you can buy any of the following index which is the same as buying individual stocks at the same weightage. You can buy ETF directly from the market by using your stock broker. The trading symbols are highlighted for your reference.

• Nippon India ETF Bank Bees – BANKBEES,
• SBI-ETF Nifty Bank – SETFNIFBK,
• Kotak Mahindra Asset Management Company Limited – KOTAKBKETF,
• ICICI Prudential Nifty Bank ETF – ICICIBANKN,
• Aditya BSL Banking ETF – ABSMBANKETF,
• UTI Bank ETF – UTIBANKETF,
• HDFC Banking ETF – HBANKETF,
• Axis Banking ETF – AXISBNKETF,
• Edelweiss ETF-Nifty Bank – EBANK.

Historical Performance of Bank Nifty:

Bank Nifty Fundamentals:

Bank Nifty as given a return of 17.55% since it’s inception in 2003. The Index has also given a return of 33.87% in the last one year.

Bank Nifty vs other Indices:

Bank Nifty Index Rebalancing:

The bank nifty index is rebalanced on a semi-annual basis. The cut-off dates are January 31 and July 31 of each year. For semi-annual review, average data for six months ending the cut-off date is considered. Four weeks prior notice is given to market from the date of change.

Bank Nifty Index Governance:

A professional team manages all NSE indices. There is a three-tier governance structure comprising the Board of Directors of NSE Indices Limited, the Index Advisory Committee (Equity) and the Index Maintenance Sub-Committee.

Eligibility Criteria:

For a stock to be considered and added to the banknifty index the following criteria should be met.

• Stocks in the index should form a part of nifty500 index.
• Company should be a part of the banking sector.
• Companies trading frequency should be atleast 90% in the last 6 months.
• Company should have a listing history of 6 months.
• Companies that are allowed in the Futures and Options segment are only elligible.
• Final selection of 12 companies shall be done based on the free-float market capitalization of the companies.
• Weightage of each stock in the index is calculated based on its free-float market capitalization such that no single stock shall be more than 33% and weightage of top 3 stocks cumulatively shall not be more than 62% at the time of rebalancing.

Factors Affecting Bank Nifty Index:

1. Interest Rate and Monetary Policy of RBI: Interest rate set by Reserve Bank of India has a very good impact on the price of the index. Changes in repo rate, reverse repo rate and other monetary policy can also influence the price of the index. The index is usually volatile on the days when there is an RBI announcement on Interest rate.
2. Economic Indicator and GDP: Price of the index is linked to the the overall economy as well. In a healthy economy having robust growth, credit demand is higher which drives the price of the index upward.
3. Banking Regulations and Government Policies.
4. Asset Quality and NPA Levels: NPA (Non Performing Assets) also known as bad loans and the quality of assets owned by the bank also has an impact on the price of the index. When the news of major loan scandals or banking fraud is out, you can usually see the price of the index fall.
5. Market Sentiment.

FAQ on Bank Nifty Index