How many companies are in the Nifty Midcap 150?

The index contains 150 companies. Its constituents are reviewed periodically and may change during scheduled rebalancing exercises conducted by NSE Indices.

Which companies are included in the Nifty Midcap 150?

The index includes 150 mid-cap companies from sectors such as financial services, capital goods, healthcare, information technology, consumer goods, automobiles, and industrials. The constituent list is reviewed periodically and can change over time.

When is the Nifty Midcap 150 rebalanced?

The Nifty Midcap 150 is reviewed and rebalanced twice a year. NSE Indices evaluates eligible companies based on its index methodology and announces any constituent changes before they take effect.

What is the difference between Nifty Midcap 50, Nifty Midcap 100, and Nifty Midcap 150?

The main difference is the number of stocks included. Nifty Midcap 50 tracks 50 mid-cap companies, Nifty Midcap 100 tracks 100 companies, and Nifty Midcap 150 tracks 150 companies. The Nifty Midcap 150 provides the broadest exposure to India's mid-cap segment among the three indices.

How has the Nifty Midcap 150 performed historically?

Historically, the Nifty Midcap 150 has delivered strong long-term returns, although it has also experienced higher volatility than large-cap indices. Like all equity investments, returns can vary significantly across market cycles, and past performance does not guarantee future results.

Can I invest in the Nifty Midcap 150?

You cannot invest directly in the index itself. However, you can gain exposure through index mutual funds and exchange-traded funds (ETFs) that track the Nifty Midcap 150.

Can I trade and backtest Midcap Nifty strategies on AlgoTest?

Yes. AlgoTest allows traders to build, backtest, paper trade, and automate options trading strategies using a no-code interface. Traders can evaluate strategy performance, analyze risk metrics, and test systematic approaches before deploying them in live markets.

Is the Nifty Midcap 150 suitable for long-term investing?

The Nifty Midcap 150 is often used by investors seeking exposure to growing mid-sized companies. While mid-cap stocks can offer higher growth potential than large-cap stocks, they may also experience greater volatility. Investors should consider their investment horizon and risk tolerance before investing.

Nifty Midcap 150: Complete Stocks List, Weightage, and Trading Guide (2026)

Q: What is the Nifty Midcap 150?

The Nifty Midcap 150 is a stock market index that tracks 150 mid-sized companies listed on the National Stock Exchange (NSE). The index is derived from the Nifty 500 universe and represents companies ranked between 101 and 250 by market capitalisation. It is maintained by NSE Indices and serves as a benchmark for India's mid-cap segment.

Q: What are the major sectors represented in the Nifty Midcap 150?

The index includes companies from a diverse range of sectors, including financial services, capital goods, information technology, healthcare, consumer goods, chemicals, automobiles, metals and mining, power, and telecom. This broad sector representation helps provide diversified exposure to India's mid-cap market.

AlgoTest

Jun 02, 2026

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6 min read

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General

Looking for the Nifty Midcap 150 stock list? This guide covers the index's constituents, sector allocation, weightage, historical returns, and the key details every investor and trader should know.

What Is the Nifty Midcap 150 Index?

The Nifty Midcap 150 is a stock market index that tracks the performance of 150 mid-sized companies listed on the National Stock Exchange (NSE).

These companies are ranked between 101 and 250 by market capitalisation within the Nifty 500 universe, placing them between India's large-cap and small-cap stocks.

The index is weighted using the free-float market capitalisation method, meaning only publicly tradable shares are considered when calculating index values.

As of March 30, 2026, the Nifty Midcap 150 accounted for approximately 18.18% of the NSE's total free-float market capitalisation, making it one of the most important benchmarks for tracking India's mid-cap segment.

Quick Reference

Parameter	Detail
Number of Stocks	150
Rank of Companies	101 to 250 (by full market cap in Nifty 500)
Index Calculation Method	Free-Float Market Capitalisation
Index Base Value	1,000 (April 1, 2005)
Rebalancing Schedule	Semi-annual (cut-off dates: January 31 and July 31)
NSE Code	NIFTY MIDCAP 150

Top Nifty Midcap 150 Companies by Weightage

The table below shows the top 10 companies in the Nifty Midcap 150 index by weightage, sourced from the latest NSE Indices fact sheet.

Note: The full index has 150 companies. Weightages change with market movements and with each semi-annual rebalancing. The table below reflects the most recent factsheet available at the time of writing. Always check the latest Nifty Midcap 150 factsheet at niftyindices.com for current weightages before making any decisions.

#	Company	Sector	Weightage (%)
1	BSE Ltd	Financial Services	4.21%
2	Multi Commodity Exchange of India (MCX)	Financial Services	1.87%
3	Federal Bank	Financial Services	1.77%
4	Suzlon Energy	Renewable Energy	1.72%
5	GE Vernova T&D India	Capital Goods	1.59%
6	Hero MotoCorp	Automobile	1.58%
7	Bharat Heavy Electricals Ltd (BHEL)	Capital Goods	1.51%
8	IndusInd Bank	Financial Services	1.50%
9	PB Fintech (Policybazaar)	Financial Services	1.44%
10	Indus Towers	Telecom	1.42%

Source: NSE Indices factsheet. Constituents and weightages change periodically due to index rebalancing and market movements. Refer to the latest Nifty Midcap 150 factsheet at niftyindices.com for current data.

Nifty Midcap 150 Sector Breakdown

The Nifty Midcap 150 provides exposure to companies across a wide range of industries, making it one of the most diversified ways to participate in India's mid-cap segment. Financial services and capital goods form a significant portion of the index, while sectors such as information technology, healthcare, consumer goods, chemicals, automobiles, and industrials also have meaningful representation.

Some of the major sectors represented in the index include:

Financial Services
Capital Goods
Information Technology
Healthcare
Chemicals
Automobiles
Consumer Goods
Metals & Mining
Power & Utilities
Telecom

This diversified sector mix helps reduce dependence on any single industry while providing exposure to multiple growth areas of the Indian economy.

Midcap Nifty Option Chain

Note: Sector allocations change over time due to market movements and periodic index rebalancing. Refer to the latest Nifty Midcap 150 factsheet for the most up-to-date sector composition.

How the Nifty Midcap 150 Index Works

The Nifty Midcap 150 is reviewed and rebalanced twice a year to ensure it continues to represent India's mid-cap segment.

The index is derived from the Nifty 500 universe and includes companies ranked between 101 and 250 based on full market capitalisation. During each review, companies may be added or removed depending on their market-cap ranking and eligibility criteria.

Key points of the selection process include:

Companies must be part of the Nifty 500 universe.
Eligible companies are selected based on full market capitalisation rankings.
Companies whose rankings fall significantly may be removed from the index.
Newly listed companies may be considered based on a shorter listing history if they meet eligibility requirements.

This periodic review helps keep the index aligned with the evolving mid-cap market and ensures it reflects the performance of leading mid-sized companies in India.

Related: Midcap Nifty full guide

Nifty Midcap 150 Historical Performance

Historically, the Nifty Midcap 150 has delivered higher long-term returns than many large-cap benchmarks, although those returns have come with greater volatility.

Mid-cap stocks tend to be more sensitive to economic cycles and market sentiment. As a result, the index has experienced deeper drawdowns during market corrections but has also participated strongly in market recoveries and growth phases.

For investors, this highlights an important trade-off: the potential for higher returns often comes with higher short-term risk. Those with a longer investment horizon may be better positioned to ride out market fluctuations and benefit from the growth potential of mid-cap companies.

Note: Past performance is not indicative of future results. Investors should refer to the latest Nifty Midcap 150 factsheet for up-to-date performance data and risk metrics.

Nifty Midcap 150 vs Nifty Midcap 100 vs Nifty Midcap 50

All three indices track India's mid-cap segment, but they differ in the number of stocks they include and the breadth of exposure they provide.

Index	Number of Stocks	Exposure
Nifty Midcap 50	50	Concentrated exposure to larger mid-cap companies
Nifty Midcap 100	100	Broader mid-cap exposure
Nifty Midcap 150	150	Widest coverage of the mid-cap segment

The Nifty Midcap 50 contains a smaller group of mid-cap stocks and is more concentrated. The Nifty Midcap 100 expands that universe, while the Nifty Midcap 150 offers the broadest representation of India's mid-cap market.

For investors seeking diversified exposure to mid-cap companies across sectors, the Nifty Midcap 150 provides the most comprehensive coverage. Because it includes a larger number of stocks, it can reduce concentration risk compared with narrower mid-cap indices.

For traders, the narrower mid-cap indices may be useful for tracking market sentiment and identifying opportunities within leading mid-cap stocks.

How to Trade and Backtest Midcap Nifty Strategies

While investors use the Nifty Midcap 150 for long-term exposure to India's mid-cap segment, traders often look for opportunities in the Midcap Nifty ecosystem through systematic and rules-based trading.

Mid-cap stocks and indices typically experience higher volatility than large-cap benchmarks, creating opportunities for momentum, breakout, trend-following, and options trading strategies.

One way traders participate in this segment is through the Midcap Nifty index, which has actively traded derivatives contracts on the NSE. These contracts can be used to implement a wide range of options strategies, including:

Short straddles and short strangles
Iron condors
Directional debit spreads
Trend-following strategies
Volatility-based trading setups

Before deploying any strategy with real capital, it is important to evaluate how it would have performed historically. This is where options backtesting and strategy testing become valuable.

AlgoTest is a no-code algo trading platform that allows traders to build, backtest, paper trade, and automate options trading strategies without programming knowledge.

With AlgoTest, traders can:

Create multi-leg options strategies using a visual strategy builder
Backtest strategies using historical market data
Analyze metrics such as drawdown, win rate, risk-reward ratio, and profit factor
Paper trade strategies in live market conditions
Automate execution through integrated broker connections

Whether you are exploring algo trading in India, testing index options strategies, or building a systematic trading approach, backtesting can help you understand the risks and performance characteristics of a strategy before deploying it in live markets.

Summary

The Nifty Midcap 150 is one of the most-watched midcap indices in India. It covers 150 companies ranked just below the large-cap segment, and it spans sectors from banking and capital goods to IT and pharmaceuticals.

If you are an investor, index funds and ETFs linked to this index give you a low-cost way to participate in the midcap segment. Expense ratios on available ETFs start at around 0.21%.

If you are a trader, the broader midcap universe gives you a range of stocks and index instruments to work with. You can test your strategies on historical data using AlgoTest before running them in the live market.

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Disclaimer: This article is for educational and informational purposes only. It does not constitute investment advice, financial advice, or a recommendation to buy or sell any securities. Nifty Midcap 150 constituent data and weightages change regularly. Always refer to the official NSE Indices factsheet at niftyindices.com for the most current information.

Data sources: NSE Indices Limited (niftyindices.com), smart-investing.in, Kotak Neo, BMSmoney.com, Bajaj AMC, Value Research, Zerodha Fund House, Groww. Data referenced is the most recent available at the time of writing (June 2026).