Mumbai, Mar 12 (Reporter) NSE Indices Limited, the NSE’s index services subsidiary, on Wednesday, launched a new sectoral index, Nifty Chemicals. This index tracks the performance of stocks from the Nifty 500 that belong to the Chemicals sector. The top 20 stocks based on a 6-month average free-float market capitalization are selected with a preference for stocks available for trading in the derivatives segment at NSE. The weight of each stock in the index is based on free-float market capitalization. The weight of each stock in the index is capped at 33 percent and the weight of the top 3 stocks is capped at 62 percent. The base date for the index is April 1, 2005, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced every quarter. The new index is expected to act as a benchmark for asset managers and be a reference index tracked by passive funds in the form of Exchange Traded Funds (ETFs), index funds, and structured products...////...