The NIFTY 50
Fear & Greed Index
One number for the mood of the Indian market — built from momentum, volatility, and the rupee. A contrarian reference point, not a trading signal.
Embed this widget →The four components
The index is an equally weighted average of four readings — each a different angle on how Indian investors are behaving. The Foreign Flow component derives from NSE FII (Foreign Institutional Investor) cash net buying; while it accumulates the minimum 100 days of history needed for percentile ranking, the model falls back to equal-weighting the first three.
History
Daily readings since coverage began, overlaid with the NIFTY 50 closing level. Bands shade the 0–100 score by sentiment zone — extreme fear at the bottom, extreme greed at the top.
Methodology
Each component is percentile-ranked against its trailing two-year distribution, then equal-weighted into a 0–100 composite. This treats every component as a contextual reading — "how unusual is today versus the recent past" — rather than an absolute threshold.
Market Momentum
NIFTY 50 vs its 125-day moving average, expressed as a ratio. The ratio is percentile-ranked against the trailing two years. Above the MA = positive momentum; how far above (vs history) sets the score.
Volatility
20-day annualized downside deviation (std-dev of negative returns only). Percentile-ranked over two years, then inverted — high downside vol means fear (low score), calm conditions mean greed (high score).
Currency
USD/INR 20-day percentage change, percentile-ranked and inverted. A weakening rupee (USD/INR rising) signals risk-off behaviour and pulls the score toward fear; a firming rupee leans toward greed.
Foreign Flow
20-day cumulative FII (Foreign Institutional Investor) net cash buying, sourced directly from NSE. Percentile-ranked over the trailing distribution — sustained foreign buying lifts the score; sustained selling pulls it toward fear. While the first 100 days of FII history accumulate, the model temporarily reweights to equal-thirds across the other three components.