A fresh option for diversification: SBI Mutual Fund launches SBI Nifty 500 Index Fund A fresh option for diversification: SBI Mutual Fund launches SBI Nifty 500 Index Fund New fund offer (NFO) opens on Tuesday, September 17, 2024, and closes on Tuesday, September 24, 2024 Vardan Pandhare / Tuesday, September 17, 2024 / Article rating: 4.4 The Nifty 500 Index provides a holistic view of the Indian equity market as it covers approximately 92.1 per cent of the full market capitalisation of all the listed companies on the NSE.