All eyes are on the key announcements and partnerships that are likely to be announced as Russian President Vladimir Putin meets Prime Minister Narendra Modi for the 23rd India-Russia annual summit in India. Close on the heels of the summit, the National Stock Exchange announced that SBER Bank, Russia’s largest bank, in partnership with JSC First Asset Management, has introduced a new mutual fund, First India.
Russian investors can now invest in India
Now, the Russian investors can directly invest in the Indian stock market through this mutual fund, said the NSE in a media release. The fund will be benchmarked to the Nifty50 Index. The basket of 50 stocks is one of the most widely tracked equity indices among market participants globally.
The Nifty 50 Index comprises 50 large-cap, highly liquid stocks listed on the NSE. The index has 15 diverse sectors of the Indian economy. In India, there are over 45 passive funds that track the Nifty50, while an additional 22 passive funds outside India track the Nifty50 Index. The Nifty50 index was launched in 1996 and will complete 30 years in April 2026.
“We are pleased to support Sberbank in launching Nifty50-linked investment solutions that strengthen capital flows and open India’s equity growth to Russian investors through a trusted benchmark. This initiative reflects strong confidence in India’s markets and deepens the India–Russia financial cooperation,” said Ashishkumar Chauhan, MD & CEO of NSE.
“NSE is committed to partnering with Sberbank to enhance market connectivity, uphold regulatory and investor-protection standards, and build liquidity and transparency for these products as we create new opportunities for investors in both countries,” added Chauhan.
Past performance of Nifty 50
The index has fallen 0.7% in the last five trading sessions. The Nifty 50 has given a return of 2.3% in the past one month and 5.5% in the last six months. The index has surged 5.65% over the previous one year.