Expanding the product range in India's equity benchmark market, NSE Indices Limited has introduced a new broad-based index called Nifty Next 100. This index tracks the performance of 100 stocks selected from Nifty Next 50 and Nifty Midcap 150, providing a new reference standard for asset managers and passive investment products.
Highlights
- NSE Indices has launched the Nifty Next 100 index, which includes 50 top stocks from Nifty Next 50 and 50 from Nifty Midcap 150.
- This free-float market cap weighted index started on October 1, 2010, with a base value of 1000, and will be rebalanced semi-annually in March and September.
- The new index will serve as a benchmark for passive investment products such as exchange-traded funds, index funds, and structured products.
This article was translated from the original. Read the original version by our correspondent here.
Index Composition and Rebalancing
As per the release by NSE India and the National Stock Exchange of India, the new Nifty Next 100 index measures the performance of a portfolio of 100 stocks, comprising 50 stocks from Nifty Next 50 and 50 top components from Nifty Midcap 150. These 50 midcap stocks are selected based on their 6-month average free-float market capitalization.The index is free-float market capitalization weighted. Its base date is October 1, 2010, and the base value is 1000. The index is reconstituted semi-annually in March and September each year.
Potential Use for Passive Investment Products
This new index is expected to serve as a benchmark for asset managers. Additionally, it can be used as a reference index tracked by passive investment instruments such as exchange-traded funds, index funds, and structured products.This launch adds a product to NSE's index portfolio that focuses on providing investors with broad market exposure between the large-cap and mid-cap segments. This may offer additional options to fund houses looking to develop products based on listed, rules-based, and diversified equity strategies.
Our previous report detailed the rebalancing and changes in some G-Sec and debt sub-indices of NSE Indices' Nifty Fixed Income indices effective from July 31, 2026, including the inclusion/exclusion of major government securities and steps such as the reduction in the weight of Nifty 3 Month CD Index-A in the Nifty Ultra Short Duration Debt Index A-I, which may impact investors tracking the benchmark and the structure of passive debt products.
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