NSE Indices Launch Nifty500 Ahimsa Index: A Look At Its Methodology And What It Means For Investors

NSE Indices, a subsidiary of National Stock Exchange (NSE), on July 10, 2026 launched the Nifty500 Ahimsa Index, a new thematic index that tracks companies from the Nifty 500 whose businesses follow the principle of ahimsa, or non-violence.

The index has been developed with the Ahimsagain Foundation. It leaves out companies involved in businesses that harm animals or are linked to activities, such as alcohol, tobacco, weapons and gambling. It is meant for investors who want their investments to match their ethical values while still getting exposure to a wide range of Indian companies.

NSE Indices said the benchmark is “a transparent, rules-based benchmark that integrates ethical considerations with broad-based equity market exposure.”

How The Nifty500 Ahimsa Index Works

The Nifty500 Ahimsa Index selects stocks from the Nifty 500 using the Ahimsa Investment Movement (AIM) framework developed by the Ahimsagain Foundation, an organisation that promotes ethical investing based on the principle of Ahimsa, or non-violence.

Companies are classified into Green, Orange and Red categories based on their involvement in activities that harm animals. Only Green category companies are included. The index is weighted by free-float market capitalisation and is reviewed twice a year, in March and September.

Which Businesses Are Excluded

The Ahimsagain framework excludes companies whose businesses are considered to go against the principle of ahimsa.

The Red category includes businesses involved in meat, dairy, leather, animal testing, alcohol, tobacco, weapons and gambling.

The Orange category covers companies with limited animal-related businesses, such as hotels serving non-vegetarian food, some FMCG and apparel firms, and most financial companies.

Only Green category companies, which have little or no direct link to animal-related businesses, are eligible for inclusion in the index.

Which Stocks Are Included In Nifty500 Ahimsa

As of June 30, 2026, the Nifty500 Ahimsa Index has 326 stocks. Information technology, automobile & auto components, capital goods, and financial services are among the biggest sectors in the index.

The top holdings by weight are Bharti Airtel, Infosys, Mahindra & Mahindra, Tata Consultancy Services, Maruti Suzuki India, NTPC, BSE, Tata Steel, Hindalco Industries and Adani Ports and Special Economic Zone.

How The Index Is Reviewed

The Nifty500 Ahimsa Index is reviewed twice a year using data from January and July.

Companies that exit the Nifty 500 or are moved to the Red category by the Ahimsagain Foundation can be removed from the index. It is also checked every quarter to ensure it meets the Securities and Exchange Board of India’s (Sebi’s) portfolio concentration norms for exchange-traded funds (ETFs) and index funds.

What It Means For Investors

The Nifty500 Ahimsa Index gives investors a way to invest in companies that meet specific ethical standards while maintaining broad exposure to the Indian stock market.

NSE said the index also expands its range of thematic indices and is expected to serve as a benchmark for ETFs, index funds, and other passive investment products, giving asset managers another option to develop values-based investment offerings.