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NIFTY(abbreviated form of National Stock Exchange's Fifty) is a standard stock market index of the National Stock Exchange of India (NSE) for the country’s share trading market. The S&P CNX Nifty is currently the biggest financial product of the country. The index is managed and owned by the India Index Services and Products Limited. It comprises of a portfolio of futures and funds which are exchange-traded, options, OTC derivatives, and index funds. The value of the index reflects the returns that a trader would get from investing in index portfolios. The Nifty reflects the returns only based on the price movement of the stocks and no other factors such as bonus and dividends from the stocks. Currently, the index has a market capitalization of Rs 2.03 trillion with a base value of 1000. The National Stock Exchange Nifty index is created using company stock prices of 23 sectors. The market value of shares which are traded rather than held by company owners are used in the NSE Nifty Index. A set of 50 companies representing the given 23 sectors are selected. Top performing companies of each of these sectors such as Axis Bank in the financial sector and Wipro for information technology are included for calculating the index. Stocks used in the index may be removed due to delisting of the company or as a result of corporate decisions. The CNX Nifty is reviewed every six months and a four weeks’ notice is given in case any company is being included or excluded from it. Most of the future contracts are based on the CNX Nifty. The index is very helpful for investment managers for investing in funds effectively. Its value is highly sensitive to company announcements, new development in the Indian and global economy and also performance of the companies included in the index.