Nifty MidSmallcap 400

NIFTY MidSmallcap 400

The NIFTY MidSmallcap 400 index is a broad-based index on the National Stock Exchange (NSE) that tracks the midcap and smallcap segments of the equities market. It comprises 400 stocks, with 150 from the NIFTY Midcap 150 index and 250 from the NIFTY Smallcap 250 index. The index covers 21 sectors, with Financial Services, Capital goods, Healthcare, Chemicals, and IT comprising more than half (~54%) of the stocks. It captures nearly 19.3% of float-adjusted market capitalization on NSE and has a total traded value of approximately 30.3% of all stocks on NSE for the last six months. Launched on April 1, 2016, the index has breached levels of 9,000 at ~21P/E multiples and is reconstituted semi-annually. It is run by NSE Indices Limited and has three layers of governance: the Board of Directors, the Index Advisory Committee (Equity), and the Index Maintenance Sub-Committee.

NIFTY MidSmallcap 400 Share Price Calculation

• Weights 400 stocks based on free-float market capitalization relative to base market capitalization.
• Eligibility criteria include listing on National Stock Exchange, inclusion in NIFTY Midcap 150 and NIFTY Smallcap 250 index constituents, inclusion or exclusion of securities based on changes to NIFTY Midcap 150 and NIFTY Smallcap 250, and use of three-month period data instead of six-month period data.

The index value is calculated as follows: -

Index value = current free float market capitalization/(base free float market capitalization * base index value).

The NIFTY MidSmallcap 400 index is evaluated semi-annually using six months of data ending between January and July, in combination with adjustments to the NIFTY Midcap 150 and NIFTY Smallcap 250 indexes. The replacement of stocks in the NIFTY MidSmallcap 400 (if any) begins on the final trading day of March and September.