Mumbai, Jan. 27 -- NSE's index services arm, NSE Indices, has launched a new broad-based equity benchmark, the Nifty Smallcap 500 Index.

The Nifty Smallcap 500 Index is designed to track the performance of 500 small-cap stocks selected on the basis of six-month average full market capitalisation, after excluding constituents of the Nifty Midcap 150. The index provides a comprehensive representation of India's small-cap universe.

Each stock's weight in the index is determined by its free-float market capitalisation, ensuring that the index reflects investable market opportunities and liquidity conditions.

The base date for the index is 1 April 2005, with a base value of 1000. The index will be reconstituted on a semi-annual basis, with ...