iNAV stands for Intraday or Indicative Net Asset Value. You use it to calculate the fair value of an ETF (Exchange-Traded Fund). Unlike mutual fund units, which are allotted based on NAV, ETF units are bought and sold based on market demand and supply.
How to view iNAV on Kite
- Search for iNAV in marketwatch.
- Click on Add.
You cannot place orders on iNAV instruments. Kite will reject these orders and display this error message:
SEBI guidelines (PDF) require AMCs (Asset Management Companies) to publish iNAVs. However, not all AMCs update iNAVs in real-time, so Kite may not show the most current values. Check the AMC website for the latest iNAV of an ETF before placing any trades. You can learn more about ETFs by visiting Exchange-traded funds (ETF) module on Varsity.