Did you Know the Meaning of S&P CNX Defty

The S&P CNX Defty is a U.S. dollar-denominated index based on the S&P CNX Nifty. This index has been developed to provide a benchmark to the international investors, providing them with an instrument for measuring returns on their equity investment in dollar terms. While the underlying S&P CNX Nifty is calculated in Indian rupees, the S&P CNX Defty is calculated and denominated in U.S. dollars. This ensures that the risk arising out of currency fluctuation is covered through the S&P CNX Defty.