About Nifty500 Shariah The Nifty500 Shariah Index is a stock market index that includes companies from the Nifty 500 Index that comply with Shariah investment principles. It offers investors a Shariah-compliant investment solution by screening the constituents of the Nifty 500 Index for compliance with Shariah law. The index can be used for various purposes such as benchmarking fund portfolios, launching index funds, exchange-traded funds (ETFs), and structured products.