Bank Nifty is a stock market index in India, which tracks the performance of the top 12 public sector and private sector banks listed on the National Stock Exchange (NSE) of India.
It is considered as a barometer for the banking sector in India, and is widely used by investors, analysts, and media to gauge the performance of the banking sector.
The Bank Nifty index includes companies like State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and others.
The index is calculated using a free-float market capitalization-weighted method, which means that the weightage of each stock in the index is proportional to its free-float market capitalization.
The Bank Nifty is a popular index among traders and investors in India, and is used to measure the performance of the banking sector in India.