Mumbai: India Index offerings & products (IISL), an NSE organization agency, on Thursday launched a brand new index to degree the returns generated with the aid of market contributors lending within thein a single day marketplace.
Nifty 1D charge index may be used as a benchmark for price range investing in overnight money market, IISL stated in a announcement.
An in a single day market is part of the money market wherein creditors provide money to borrowersonly for “in a single day“. The borrower need to repay the budget along side hobby on the start ofbusiness the following day.
“The index makes use of collateralised borrowing and lending responsibility CBLO overnight rate for computation of index values,” IISL CEO Mukesh Agarwal stated including that the in a single daymarketplace in India is the maximum active aspect of the money market.
records furnished by IISL confirmed that the index has given a mean go back of approximately 8 in keeping with cent in line with annum.
the base date of the index is January three, 2011 and base fee is 1,000.
The index can be calculated on an cease-of-day basis.
“Nifty 1D rate index could be to be had for licensing for the launch of economic products together withexchange traded fund and based merchandise,” IISL said.
(This tale has now not been edited by means of NDTV body of workers and is car-generated from a syndicated feed.)
story first published on: June 23, 2016 17:22 (IST)
Tags: India Index services & products, IISL, NSE, Nifty 1D price index, money market