S&P owns the most important index in the world, the S&P 500 index, which is the foundation of the largest index funds and most liquid index futures markets in the world. When S&P came to India to look at market indices, they focused
upon the S&P CNX Nifty as opposed to alternative indices. They now stand behind the S&P CNX Nifty, as is evidenced by the name “S&P CNX Nifty” This is a unique occasion; S&P has never endorsed a market index before.