NSE launches Nifty Waves Index comprising 43 listed media stocks

Mumbai (Maharashtra) [India], May 2 : NSE has unveiled an index comprising as many as 43 listed companies in the media, entertainment, and gaming industry at the ongoing WAVES 2025 summit in Mumbai.

At the World Audio Visual and Entertainment Summit (WAVES), Maharashtra Chief Minister Devendra Fadnavis launched the Nifty Waves Index.

With a diverse ecosystem spanning film, television, digital platforms, music and gaming, the Indian media and entertainment industry is undergoing a dynamic transformation, blending creative innovation with rapid technological adoption.

The weight of each stock in the Nifty Waves Index is based on free float market capitalization subject to a cap of 5 per cent. The base date for the index is April 01, 2005, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis, NSE said in a statement.

Ashishkumar Chauhan, MD and CEO, National Stock Exchange of India (NSE), commenting on the Nifty Waves index said, "We are proud to introduce the Nifty Waves index, designed to provide deep insights into the performance of one of India's most dynamic sectors. It offers us a benchmark to understand market trends and unlock the full potential of India's creative economy."

Devendra Fadnavis, Chief Minister of Maharashtra, said, "India's next significant export is its imaginationour stories, music, innovation, and creative spirit. Through WAVES, we are building a bridge between our rich cultural heritage and our boundless digital future. The launch of the Nifty Waves Index has provided us with a tool to measure success in this field and inspire many more entrepreneurs."

On Thursday afternoon, Prime Minister Narendra Modi inaugurated WAVES (World Audio Visual and Entertainment Summit). The four-day summit with tagline "Connecting Creators, Connecting Countries" is poised to position India as a global hub for media, entertainment, and digital innovation by bringing together creators, startups, industry leaders, and policymakers from across the world.

In line with Prime Minister's vision of leveraging creativity, technology, and talent to shape a brighter future, WAVES integrates films, OTT, gaming, comics, digital media, AI, AVGC-XR, broadcasting, and emerging tech, making it a comprehensive showcase of India's media and entertainment prowess. WAVES aims to unlock a USD 50 billion market by 2029, expanding India's footprint in the global entertainment economy.

At WAVES 2025, India also hosts the Global Media Dialogue (GMD) for the first time, with ministerial participation from 25 countries, marking a milestone in the country's engagement with the global media and entertainment landscape.

The Summit also features the WAVES Bazaar, a global e-marketplace with over 6,100 buyers, 5,200 sellers, and 2,100 projects. It aims to connect buyers and sellers locally and globally, ensuring wide-reaching networking and business opportunities.

WAVES 2025 witnesses participation from over 90 countries, with more than 10,000 delegates, 1,000 creators, 300+ companies, and 350+ startups. The summit will feature 42 plenary sessions, 39 breakout sessions, and 32 masterclasses spanning diverse sectors including broadcasting, infotainment, AVGC-XR, films, and digital media.

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