The next rung of liquid securities after S&P CNX Nifty is the CNX Nifty Junior. It may be useful to think of the S&P CNX Nifty and the CNX Nifty Junior as making up the 100 most liquid stocks in India.

As with the S&P CNX Nifty, stocks in the CNX Nifty Junior are filtered for liquidity, so they are the most liquid of the stocks excluded from the S&P CNX Nifty. The maintenance of the S&P CNX Nifty and the CNX Nifty Junior are synchronised so that the two indices will always be disjoint sets; i.e. a stock will never appear in both indices at the same time. Hence it is always meaningful to pool the S&P CNX Nifty and the CNX Nifty Junior into a composite 100 stock index or portfolio.
 

• CNX Nifty Junior represents about 12 % of the Free Float Market Capitalization as on Dec 31, 2009.
• The traded value for the last six months of all Junior Nifty stocks is approximately 15% of the traded value of all stocks on the NSE
• Impact cost for CNX Nifty Junior for a portfolio size of Rs.50 lakhs is 0.13%