Australia has joined the group of global markets that have access to NSE's Nifty50-based products on their respective exchanges.
Australia has joined the group of global markets that have access to NSE’s Nifty50-based products on their respective exchanges. ETF Securities, an Australia-based provider of accessible investment solutions, on Friday launched the first Indian ETF on the Australian Securities Exchange. Listed on the Australian exchange with the code NDIA, the ETF will provide investors of that country an access to India.
NDIA will track the Nifty 50 index which accounts for 13 sectors representing about 66.8% of the free float market capitalisation of stocks listed on the NSE. “ETF on Nifty50 in Australia will help institutional and retail investors in Australia to efficiently participate in the world’s fastest-growing major economy,” said Mukesh Agarwal, CEO of NSE Indices. Nifty50 ETF is a partnership between ETF Securities and Reliance Nippon Life Asset Management.
- First published on 22 June 2019