NIFTY 5-year G-Sec Index

Tue, 19 May 2026 00:00:00 +0000

The NIFTY 5-year G-Sec Index tracks the benchmark 5-year Indian Government Security yield, serving as the mid-tenor debt index for benchmarking medium-duration gilt funds , banking-and-PSU debt funds, and certain dynamic-bond mutual funds. The index is constructed by NSE Indices and complements the longer-tenor NIFTY 10-year G-Sec .

For mid-duration debt-fund analysis, the 5-year G-Sec yield is the natural reference point. Its behaviour during yield-curve movements (steepening, flattening) provides insight into:

Short-medium policy-rate expectations.
Yield-curve shape vs the 10-year.
Inflation expectations over the medium term.

Index methodology

Constituent

The index references the benchmark 5-year G-Sec (typically the most recently-issued 5-year paper or the most-traded 5-year security).

5-Year on WebNotes

NIFTY 5-year G-Sec Index

Index methodology

Constituent