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About NIFTY Midcap 100 Index


NIFTY Midcap 100 index is an index of the stock market representing medium-sized companies listed on the National Stock Exchange of India (NSE). This index comprises 100 companies, selected based on their market capitalisation, which is the overall market value of a company's outstanding shares of stocks.

Investors use the NIFTY Midcap 100 index to monitor the performance of midcap stocks. Midcap stocks belong to companies with a moderate market capitalisation ranging between above ₹5,000 crore and less than ₹20,000 crore.

Investing in midcap stocks is often viewed as a strategy to strike a balance between growth potential and risk. These companies are usually in a phase of expansion, offering more room for growth compared to largecap firms.

NIFTY Midcap 100 index is also a valuable indicator for assessing the overall health and trends in the mid-cap segment of the Indian stock market. Investors rely on it to check the stock performance, devise investment strategies and make well-informed decisions based on market trends.


What is the NIFTY Midcap 100 Index?


NIFTY Midcap 100 Index mirrors the performance of midcap sector companies in the market, comprising 100 tradable stocks listed on the National Stock Exchange.

The index was established on July 18, 2005, and had its base year as 2003 with a base value of 1,000. Since its inception, the share price of NIFTY Midcap 100 has seen a growth of over 250%.


Sector-Wise Breakdown


The financial services sector carried a significant weight of 24.49% as of the end of 2023. The healthcare sector followed with a notable 11.85% weight, while the capital goods sector was at 11.43%. Information Technology made a substantial contribution with an 8.08% weight. The automobile and auto components sector held a weight of 6.49% and the power sector played a substantial role with a 4.85% weight in the index.

Other sectors with noteworthy weightages included consumer services at 4.74%, chemicals at 3.93%, realty at 3.88% and oil, gas and consumable fuels at 3.74%. The consumer durables, construction materials, and telecommunication sectors also played significant roles, each with weightage at 3.70%, 2.34% and 2.20% respectively.


Companies and Weightage


The NIFTY Midcap 100 index comprised significant contributions from various companies as of the end of 2023. Power Finance Corporation Limited held a weightage of 2.66%, while REC Limited had a weightage of 2.45%. Max Healthcare Institute Limited and Adani Power Limited both shared a weightage of 2.43%.

Other companies included Indian Hotels Co. Limited at 1.85%, Coforge Limited at 1.83%, Persistent Systems Limited at 1.82%, and AU Small Finance Bank Limited at 1.82%. Yes Bank Limited and Tube Investments of India Limited had a weightage of 1.80% and 1.77% respectively.


Selection Criteria


The criteria for the selection of constituent stocks of the NIFTY Midcap 100 index are as follows:
  • All companies from NIFTY Midcap 50 are eligible for inclusion.
  • For the remaining companies, inclusion is done based on their rank in average daily turnover. Securities are included if their rank among constituents in NIFTY Midcap 150 is within the top 70.
  • Stocks are excluded if their rank in average daily turnover among existing constituents is below 130 among constituents in NIFTY Midcap 150. Exclusion also happens if a constituent is removed from NIFTY Midcap 150.
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