NCDEX, formerly known as National Commodities and Derivatives Exchange, on Thursday launched two rule-based equity indices, NDEX and FINNDEX, marking its entry into the equity and equity derivatives markets.

The indices use a multi-factor approach to stock selection and weighting, combining free-float market capitalisation (30 per cent), average daily traded value (30 per cent), beta (20 per cent) and volatility (20 per cent), NCDEX said in a statement.