It is common for people to track broad based Indian stock market indices like the Nifty & Sensex. However, there’s more to it than just that. In reality, many indices that comprise different sectors don’t always move in tandem. They may have correlation, but it is important to understand which sectors moved and by how much if you want to have a good grip on your portfolio of stocks. This is especially useful if you have a top-down approach to trading. Of course almost all trading is top-down but nevertheless, worth a mention.
Index Meter is a unique tool on Fyers One that that enables you to track real-time movements of all the major stock market indices in India. It is similar to our other tool Market Dynamics which gives information of the stocks within indices. If you don’t know about it yet, click here.
Learn how to use it:
Click on “Tools” in the Main Menu and select “Index Meter”.
As you can see in the image above, each bar represents an index. It is a sort of heat map that can help you feel the pulse of the stock market at all times. However, it is different from the heat maps in the sense that it has more information coverage. You can track over 30 different Indices. Here is a list:
• Nifty 50
• Nifty Service Sector
• Nifty PSU Bank
• Nifty PSE
• Nifty Pharma
• Nifty MNC
• Nifty FMCG
• Nifty Energy
• Nifty Infra
• Nifty Realty
• Nifty Midcap 50
• Nifty Bank
• Nifty Commodities
• India VIX etc.
The X Axis shows you the different stock market indices.
The Y Axis shows you the percentage change in the underlying.
Get price information Open, High, Low, Change & Previous Close of each index.
Ensure that you make more aware trading decisions. So far majority of the retail traders in India don’t have such actionable information at their disposable. At Fyers, we are focused on solving such problems and providing you the best trading platforms.
Tejas is the Co-Founder & CEO at FYERS, the youngest team to get NSE’s broker license. He has a specialization in finance and has over 10 years of work experience spanning across proprietary trading, risk management, and broking. Tejas & his team started FYERS, a technology-focused brokerage as a mission to transform the trading/investment landscape in India.