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The Nifty Media Index is designed to reflect the behaviour and performance of the Media & Entertainment sector including printing and publishing. The Nifty Media Index comprises a maximum of 15 stocks from the Media & Entertainment sector that are listed on the National Stock Exchange (NSE).
The Nifty Media Index is computed using the free-float market capitalisation method, wherein the level of the index reflects the total free-float market value of all the stocks in the index relative to a particular base market capitalisation value. The index follows a periodic capped free-float methodology to ensure balanced representation across constituent companies within the media sector.
An index variant, the Nifty Media Total Returns Index, is also available for tracking total returns including dividend distributions. The index is managed by a professional team under 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. As of October 31, 2025, the index comprises 10 constituents and is calculated in real-time during market hours.
The Nifty Media Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs, and structured products. The index provides investors and fund managers with a comprehensive benchmark to track the performance of the media and entertainment sector within the Indian equity market.
The Nifty Media Index was launched on July 19, 2011. The base date for the index is December 30, 2005, with a base value of 1,000.
The index is rebalanced on a semi-annual basis. The cut-off dates are January 31 and July 31 of each year, meaning that for the semi-annual review of indices, average data for six months ending the cut-off date is considered. Four weeks’ prior notice is given to the market from the date of change.
As of October 31, 2025, the top constituents of the Nifty Media Index by weightage are:
The following eligibility criteria are applied for selection of constituent stocks:
The index uses the periodic capped free-float methodology. The calculation frequency is real-time, providing continuous updates during market hours.
As of October 31, 2025, the index demonstrated the following performance characteristics:
Returns (Total Return Index):
Fundamentals:
Risk Metrics (based on Price Return Index):
The index reflects companies in the Media & Entertainment sector, including printing and publishing. It comprises companies from broadcasting, entertainment, publishing, and digital gaming industries listed on NSE.
The index has moderate concentration with the top two companies, Zee Entertainment Enterprises Ltd. and PVR INOX Ltd., together accounting for over 44% of the total index weight as of October 31, 2025.
The index has a beta of 0.90 relative to Nifty 50, indicating slight underperformance relative to the market volatility. The 5-year CAGR return stands at 23.80%, with a dividend yield of 1.59%, reflecting strong growth and income potential.
