Markets
Nifty Midcap 150
Nifty Midcap 150 is an NSE broad market index of 150 stocks. Since 2005 it has compounded 16.7% a year with dividends reinvested; over the past year it rose 1.7%. Its deepest fall was 73%, from Jan 2008 to Mar 2009, and it took 6.4 years from that high to a new one.
Written for anyone who holds, tracks or is thinking of buying Nifty Midcap 150. Data to 14 Oct 2026.
- Trend
- Downtrend since Sep 2026
- Momentum
- 66th of 133 markets, by rank
- Below its high
- 7.3% total return
- P/E
- 28.3 40th percentile since 2021
- 1 year
- +1.7% total return
- 5 years
- 13.3% a year
- 10 years
- 16.2% a year
- Since 2005
- 16.7% a year
- Volatility
- 16.4% past year; usual 17%
NSE launched Nifty Midcap 150 in Apr 2016. Figures before that use NSE's back-calculated history: today's rules applied to the past, chosen with that past in view. Charts mark the launch.
Returns
Total return counts dividends reinvested; price return does not. Since 2005, dividends added about 1.3 percentage points a year. Returns over more than a year are a year, compounded.
Nifty Midcap 150: growth of 100
Weekly, from Apr 2005, log scale: equal slopes are equal rates of growth. Drag the range below the chart to start anywhere; both lines restart at 100.
How to read it. The gap between the two lines is what dividends were worth. It widens slowly and never closes.
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To 14 Oct 2026. Before any fund cost or tax.
| Period | Total return | Price return | Dividends added | More |
|---|---|---|---|---|
| 1 month | −4.5% | −4.5% | 0.0 pts | |
| 3 months | −5.2% | −5.4% | +0.2 pts | |
| 6 months | +3.4% | +3.0% | +0.4 pts | |
| This year | −1.5% | −2.1% | +0.5 pts | |
| 1 year | +1.7% | +1.0% | +0.6 pts | |
| 3 years, a year | +13.6% | +13.0% | +0.7 pts | |
| 5 years, a year | +13.3% | +12.5% | +0.8 pts | |
| 10 years, a year | +16.2% | +15.3% | +0.9 pts | |
| 15 years, a year | +17.8% | +16.6% | +1.2 pts | |
| 20 years, a year | +15.0% | +13.8% | +1.3 pts | |
| Since Apr 2005, a year | +16.7% | +15.4% | +1.3 pts |
Year by year
16 of the 20 full calendar years since 2006 ended higher. 17 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty Midcap 150: each calendar year
The worst fall is the largest drop from a peak within the year, with the previous year-end as the first peak (the convention of J.P. Morgan's Guide to the Markets). Total return, %.
| Year | Total return | Price return | Dividends | Worst fall in the year | More |
|---|---|---|---|---|---|
| 2026 so far | −1.5% | −2.1% | +0.5 pts | −13.9% | |
| 2025 | +6.0% | +5.4% | +0.6 pts | −17.3% | |
| 2024 | +24.5% | +23.8% | +0.7 pts | −11.0% | |
| 2023 | +44.6% | +43.7% | +0.9 pts | −7.7% | |
| 2022 | +3.9% | +3.0% | +1.0 pts | −20.3% | |
| 2021 | +48.2% | +46.8% | +1.3 pts | −10.3% | |
| 2020 | +25.6% | +24.4% | +1.2 pts | −38.5% | |
| 2019 | +0.6% | −0.3% | +0.9 pts | −14.3% | |
| 2018 | −12.6% | −13.3% | +0.7 pts | −23.5% | |
| 2017 | +55.7% | +54.3% | +1.4 pts | −6.8% | |
| 2016 | +6.5% | +5.4% | +1.1 pts | −17.0% | |
| 2015 | +9.7% | +8.4% | +1.3 pts | −11.9% | |
| 2014 | +62.7% | +60.3% | +2.4 pts | −7.8% | |
| 2013 | −1.3% | −3.0% | +1.7 pts | −24.1% | |
| 2012 | +46.7% | +44.3% | +2.4 pts | −12.2% | |
| 2011 | −31.0% | −32.1% | +1.1 pts | −32.3% | |
| 2010 | +20.1% | +18.5% | +1.6 pts | −16.3% | |
| 2009 | +113.9% | +110.6% | +3.3 pts | −23.5% | |
| 2008 | −64.9% | −65.5% | +0.5 pts | −71.8% | |
| 2007 | +78.2% | +76.1% | +2.0 pts | −16.7% | |
| 2006 | +28.5% | +27.0% | +1.5 pts | −38.0% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 73%, took 14 months to reach bottom and 5.2 years more to climb back. Today it is 7.3% below its high.
Nifty Midcap 150: how far below its previous high
Weekly, the week's lowest close against the highest close before it, total return, %.
How to read it. Zero is a new high. The depth of each dip is what a holder sat through; its width is how long getting back took.
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Total return, closing prices. A fall ends when the index closes at or above the high it fell from. Calendar time.
| Fall | From the high of | To the low of | Falling for | Recovering for | Back at the high | High to high |
|---|---|---|---|---|---|---|
| −72.9% | 7 Jan 2008 | 9 Mar 2009 | 14 months | 5.2 years | 16 May 2014 | 6.4 years |
| −43.1% | 8 Jan 2018 | 23 Mar 2020 | 2.2 years | 8 months | 23 Nov 2020 | 2.9 years |
| −38.0% | 10 May 2006 | 14 Jun 2006 | 35 days | 7 months | 15 Jan 2007 | 8 months |
| −21.1% | 18 Oct 2021 | 20 Jun 2022 | 8 months | 3 months | 9 Sept 2022 | 11 months |
| −20.9% | 24 Sept 2024 | 28 Feb 2025 | 5 months | 8 months | 12 Nov 2025 | 14 months |
| −18.4% | 6 Aug 2015 | 26 Feb 2016 | 7 months | 4 months | 30 Jun 2016 | 11 months |
| −16.7% | 7 Feb 2007 | 7 Mar 2007 | 28 days | 2 months | 21 May 2007 | 3 months |
| −14.6% | 30 Oct 2016 | 26 Dec 2016 | 57 days | 45 days | 9 Feb 2017 | 3 months |
| −13.9% | 7 Jan 2026 | 30 Mar 2026 | 3 months | 38 days | 7 May 2026 | 4 months |
| −13.5% | 19 Sept 2005 | 28 Oct 2005 | 39 days | 42 days | 9 Dec 2005 | 3 months |
What holding it was like
From every day in its history, what holding Nifty Midcap 150 for a fixed span would have returned a year. Over five years the middle outcome was 16.8% a year; the worst −2.3% and the best 37.1%; 1% of five-year spans lost money.
Total return a year, %, over every span of that length starting on any session. Spans overlap, so 'separate spans' is how many non-overlapping ones the history holds: the longer the span, the fewer truly independent readings behind each figure.
| Held for | Worst | 1 in 10 worse than | Middle | 1 in 10 better than | Best | Spans that lost | Separate spans |
|---|---|---|---|---|---|---|---|
| 1 year | −67.3% | −11.0% | +13.7% | +63.9% | +169.3% | 23% | 21.5 |
| 3 years | −17.3% | +0.5% | +18.1% | +29.6% | +40.6% | 9% | 7.2 |
| 5 years | −2.3% | +5.7% | +16.8% | +25.6% | +37.1% | 1% | 4.3 |
| 7 years | +4.7% | +9.2% | +16.6% | +20.9% | +27.1% | 0% | 3.1 |
| 10 years | +7.3% | +11.5% | +16.8% | +21.0% | +23.4% | 0% | 2.2 |
Rolling returns, a year
Weekly: the return a year over the 3 and 5 years to each date, total return, %.
How to read it. Each point is what someone who bought 3 or 5 years earlier had earned a year by then. The lows mark the worst times to have bought.
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₹10,000 on the first session of every month into the index itself, from January of each year to 14 Oct 2026. Before any fund cost or tax; an index fund would have returned a little less. Of SIPs that ran five years or more, the weakest started in 2021 (+15.1% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,27,525 | 1.03× | +3.8% | |
| 2024 | 34 | ₹3,40,000 | ₹3,61,914 | 1.06× | +4.5% | |
| 2023 | 46 | ₹4,60,000 | ₹5,65,901 | 1.23× | +11.1% | |
| 2022 | 58 | ₹5,80,000 | ₹8,04,204 | 1.39× | +13.8% | |
| 2021 | 70 | ₹7,00,000 | ₹10,82,856 | 1.55× | +15.1% | |
| 2020 | 82 | ₹8,20,000 | ₹15,47,973 | 1.89× | +18.5% | |
| 2019 | 94 | ₹9,40,000 | ₹19,99,063 | 2.13× | +19.0% | |
| 2018 | 106 | ₹10,60,000 | ₹24,19,110 | 2.28× | +18.2% | |
| 2017 | 118 | ₹11,80,000 | ₹28,97,298 | 2.46× | +17.6% | |
| 2016 | 130 | ₹13,00,000 | ₹35,16,740 | 2.71× | +17.5% | |
| 2015 | 142 | ₹14,20,000 | ₹41,78,787 | 2.94× | +17.2% | |
| 2014 | 154 | ₹15,40,000 | ₹51,03,819 | 3.31× | +17.4% | |
| 2013 | 166 | ₹16,60,000 | ₹63,44,227 | 3.82× | +17.8% | |
| 2012 | 178 | ₹17,80,000 | ₹76,88,622 | 4.32× | +18.0% | |
| 2011 | 190 | ₹19,00,000 | ₹89,89,489 | 4.73× | +17.7% | |
| 2010 | 202 | ₹20,20,000 | ₹1,02,13,624 | 5.06× | +17.3% | |
| 2009 | 214 | ₹21,40,000 | ₹1,23,98,689 | 5.79× | +17.5% | |
| 2008 | 226 | ₹22,60,000 | ₹1,42,58,472 | 6.31× | +17.2% | |
| 2007 | 238 | ₹23,80,000 | ₹1,58,83,279 | 6.67× | +16.7% | |
| 2006 | 250 | ₹25,00,000 | ₹1,79,79,066 | 7.19× | +16.4% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 16.4%, against a usual 17.4% for this index. 65% of months ended higher, and 175 days moved 3% or more either way.
Nifty Midcap 150: volatility over the past year
Weekly: standard deviation of daily total returns over the past 252 sessions, annualised, %.
How to read it. Spikes come with sell-offs; calm stretches come with rising markets. High readings rarely last.
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| Worst days | Return |
|---|---|
| 23 Mar 2020 | −13.0% |
| 21 Jan 2008 | −12.7% |
| 22 Jan 2008 | −8.7% |
| 24 Aug 2015 | −8.5% |
| 24 Oct 2008 | −8.2% |
| Best days | Return |
|---|---|
| 18 May 2009 | +11.7% |
| 23 Jan 2008 | +8.7% |
| 25 Jan 2008 | +7.0% |
| 20 May 2009 | +6.3% |
| 15 Jun 2006 | +6.2% |
| Worst months | Return |
|---|---|
| Oct 2008 | −31.3% |
| Mar 2020 | −28.2% |
| Jun 2008 | −22.4% |
| Jan 2008 | −22.1% |
| Mar 2008 | −17.1% |
| Best months | Return |
|---|---|
| May 2009 | +45.5% |
| Apr 2009 | +17.1% |
| May 2014 | +16.4% |
| Jan 2012 | +15.6% |
| Dec 2007 | +15.5% |
Valuation
NSE's own price-to-earnings, price-to-book and dividend yield, at each month-end since Apr 2016. Today's P/E of 28.3 is in the middle of its range since NSE moved to consolidated earnings in March 2021. Price to book, 3.82, is in the middle of its range over the full history.
Price to earnings
Month-ends, as NSE publishes them. 5 month-ends above 100 are left out (highest 754): earnings near zero make the ratio meaningless.
How to read it. Higher is dearer. Before March 2021 NSE used standalone earnings, so readings on either side of the line are not strictly comparable.
Price to earnings. Line chart, Apr 2016 to Oct 2026. Price to earnings: latest 28.3×, range 19.7× to 78.7×.
Price to book
Month-ends, as NSE publishes them.
How to read it. Higher is dearer. Book value has no accounting break, so the whole history compares.
Price to book. Line chart, Apr 2016 to Oct 2026. Price to book: latest 3.82×, range 2.04× to 5.89×.
Today is 14 Oct 2026; the history is month-ends. A percentile is the share of month-ends at or below today's reading: 90 means dearer than nine months in ten (for dividend yield, the reverse).
| Today | Percentile, full history | Last 10 years | Since March 2021 | Median | Low | High | |
|---|---|---|---|---|---|---|---|
| Price to earnings | 28.33 | 28 | 29 | 40 | 33.47 | 19.67 | 753.63 |
| Price to book | 3.82 | 66 | 64 | – | 3.45 | 2.04 | 5.89 |
| Dividend yield, % | 0.97 | 60 | 60 | – | 0.91 | 0.45 | 1.93 |
What it holds
150 stocks as NSE lists them today. The ten largest make up 16.8% of the index. It is weighted by free float market capitalization and rebalanced twice a yearly.
Sector weights
NSE's factsheet, 30 Sept 2026. % of the index.
How to read it. Sectors as NSE classifies them. A sector index of one industry has no split to show.
Sector weights. Bar chart of 19 items. Weight, %: highest Financial Services at 26.8%, lowest Diversified at 0.1%.
NSE's factsheet, 30 Sept 2026. NSE publishes the weights of the ten largest members only.
| Largest holdings | Weight | |
|---|---|---|
| 1 | Multi Commodity Exchange of India Ltd. | 2.07% |
| 2 | Federal Bank Ltd. | 1.93% |
| 3 | Laurus Labs Ltd. | 1.90% |
| 4 | One 97 Communications Ltd. | 1.78% |
| 5 | Hero MotoCorp Ltd. | 1.68% |
| 6 | Indian Hotels Co. Ltd. | 1.58% |
| 7 | Coforge Ltd. | 1.50% |
| 8 | Bharat Heavy Electricals Ltd. | 1.49% |
| 9 | IndusInd Bank Ltd. | 1.46% |
| 10 | AU Small Finance Bank Ltd. | 1.45% |
NSE's constituent list for Nifty Midcap 150, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| 360 ONE WAM Ltd. | Financial Services | 360ONE | |
| AIA Engineering Ltd. | Capital Goods | AIAENG | |
| APL Apollo Tubes Ltd. | Capital Goods | APLAPOLLO | |
| AU Small Finance Bank Ltd. | Financial Services | AUBANK | |
| Abbott India Ltd. | Healthcare | ABBOTINDIA | |
| Adani Total Gas Ltd. | Oil Gas & Consumable Fuels | ATGL | |
| Aditya Birla Capital Ltd. | Financial Services | ABCAPITAL | |
| Ajanta Pharmaceuticals Ltd. | Healthcare | AJANTPHARM | |
| Alkem Laboratories Ltd. | Healthcare | ALKEM | |
| Anthem Biosciences Ltd. | Healthcare | ANTHEM | |
| Apar Industries Ltd. | Capital Goods | APARINDS | |
| Ashok Leyland Ltd. | Capital Goods | ASHOKLEY | |
| Aster DM Quality Care Ltd. | Healthcare | ASTERDM | |
| Astral Ltd. | Capital Goods | ASTRAL | |
| Aurobindo Pharma Ltd. | Healthcare | AUROPHARMA | |
| Authum Investment & Infrastructure Ltd. | Financial Services | AIIL | |
| Bajaj Housing Finance Ltd. | Financial Services | BAJAJHFL | |
| Balkrishna Industries Ltd. | Automobile and Auto Components | BALKRISIND | |
| Bank of India | Financial Services | BANKINDIA | |
| Bank of Maharashtra | Financial Services | MAHABANK | |
| Berger Paints India Ltd. | Consumer Durables | BERGEPAINT | |
| Bharat Dynamics Ltd. | Capital Goods | BDL | |
| Bharat Forge Ltd. | Automobile and Auto Components | BHARATFORG | |
| Bharat Heavy Electricals Ltd. | Capital Goods | BHEL | |
| Bharti Hexacom Ltd. | Telecommunication | BHARTIHEXA | |
| Billionbrains Garage Ventures Ltd. | Financial Services | GROWW | |
| Biocon Ltd. | Healthcare | BIOCON | |
| Blue Star Ltd. | Consumer Durables | BLUESTARCO | |
| CRISIL Ltd. | Financial Services | CRISIL | |
| Cochin Shipyard Ltd. | Capital Goods | COCHINSHIP | |
| Coforge Ltd. | Information Technology | COFORGE | |
| Colgate Palmolive (India) Ltd. | Fast Moving Consumer Goods | COLPAL | |
| Container Corporation of India Ltd. | Services | CONCOR | |
| Coromandel International Ltd. | Chemicals | COROMANDEL | |
| Dabur India Ltd. | Fast Moving Consumer Goods | DABUR | |
| Dalmia Bharat Ltd. | Construction Materials | DALBHARAT | |
| Dixon Technologies (India) Ltd. | Consumer Durables | DIXON | |
| EMBASSY OFFICE PARKS REIT | Realty | EMBASSY | |
| Endurance Technologies Ltd. | Automobile and Auto Components | ENDURANCE | |
| Escorts Kubota Ltd. | Capital Goods | ESCORTS | |
| Exide Industries Ltd. | Automobile and Auto Components | EXIDEIND | |
| FSN E-Commerce Ventures Ltd. | Consumer Services | NYKAA | |
| Federal Bank Ltd. | Financial Services | FEDERALBNK | |
| Fertilisers and Chemicals Travancore Ltd. | Chemicals | FACT | |
| Fortis Healthcare Ltd. | Healthcare | FORTIS | |
| GE Vernova T&D India Ltd. | Capital Goods | GVT&D | |
| GMR Airports Ltd. | Services | GMRAIRPORT | |
| General Insurance Corporation of India | Financial Services | GICRE | |
| Glaxosmithkline Pharmaceuticals Ltd. | Healthcare | GLAXO | |
| Glenmark Pharmaceuticals Ltd. | Healthcare | GLENMARK | |
| Global Health Ltd. | Healthcare | MEDANTA | |
| Godfrey Phillips India Ltd. | Fast Moving Consumer Goods | GODFRYPHLP | |
| Godrej Industries Ltd. | Diversified | GODREJIND | |
| Godrej Properties Ltd. | Realty | GODREJPROP | |
| Gujarat Fluorochemicals Ltd. | Chemicals | FLUOROCHEM | |
| HDB Financial Services Ltd. | Financial Services | HDBFS | |
| Havells India Ltd. | Consumer Durables | HAVELLS | |
| Hero MotoCorp Ltd. | Automobile and Auto Components | HEROMOTOCO | |
| Hexaware Technologies Ltd. | Information Technology | HEXT | |
| Hindustan Copper Ltd. | Metals & Mining | HINDCOPPER | |
| Hindustan Petroleum Corporation Ltd. | Oil Gas & Consumable Fuels | HINDPETRO | |
| Housing & Urban Development Corporation Ltd. | Financial Services | HUDCO | |
| ICICI Lombard General Insurance Company Ltd. | Financial Services | ICICIGI | |
| ICICI Prudential Asset Management Company Ltd. | Financial Services | ICICIAMC | |
| ICICI Prudential Life Insurance Company Ltd. | Financial Services | ICICIPRULI | |
| IDFC First Bank Ltd. | Financial Services | IDFCFIRSTB | |
| ITC Hotels Ltd. | Consumer Services | ITCHOTELS | |
| Indian Bank | Financial Services | INDIANB | |
| Indian Hotels Co. Ltd. | Consumer Services | INDHOTEL | |
| Indian Overseas Bank | Financial Services | IOB | |
| Indian Railway Catering And Tourism Corporation Ltd. | Consumer Services | IRCTC | |
| Indian Renewable Energy Development Agency Ltd. | Financial Services | IREDA | |
| Indus Towers Ltd. | Telecommunication | INDUSTOWER | |
| IndusInd Bank Ltd. | Financial Services | INDUSINDBK | |
| Info Edge (India) Ltd. | Consumer Services | NAUKRI | |
| Ipca Laboratories Ltd. | Healthcare | IPCALAB | |
| J.K. Cement Ltd. | Construction Materials | JKCEMENT | |
| JSW Energy Ltd. | Power | JSWENERGY | |
| JSW Infrastructure Ltd. | Services | JSWINFRA | |
| Jindal Stainless Ltd. | Metals & Mining | JSL | |
| Jubilant Foodworks Ltd. | Consumer Services | JUBLFOOD | |
| K.P.R. Mill Ltd. | Textiles | KPRMILL | |
| KEI Industries Ltd. | Capital Goods | KEI | |
| Kalyan Jewellers India Ltd. | Consumer Durables | KALYANKJIL | |
| L&T Finance Ltd. | Financial Services | LTF | |
| L&T Technology Services Ltd. | Information Technology | LTTS | |
| LG Electronics India Ltd. | Consumer Durables | LGEINDIA | |
| LIC Housing Finance Ltd. | Financial Services | LICHSGFIN | |
| Laurus Labs Ltd. | Healthcare | LAURUSLABS | |
| Lenskart Solutions Ltd. | Consumer Services | LENSKART | |
| Life Insurance Corporation of India | Financial Services | LICI | |
| Linde India Ltd. | Chemicals | LINDEINDIA | |
| Lloyds Metals And Energy Ltd. | Metals & Mining | LLOYDSME | |
| Lodha Developers Ltd. | Realty | LODHA | |
| Lupin Ltd. | Healthcare | LUPIN | |
| MRF Ltd. | Automobile and Auto Components | MRF | |
| Mahindra & Mahindra Financial Services Ltd. | Financial Services | M&MFIN | |
| Mankind Pharma Ltd. | Healthcare | MANKIND | |
| Marico Ltd. | Fast Moving Consumer Goods | MARICO | |
| Max Financial Services Ltd. | Financial Services | MFSL | |
| Meesho Ltd. | Consumer Services | MEESHO | |
| Motilal Oswal Financial Services Ltd. | Financial Services | MOTILALOFS | |
| MphasiS Ltd. | Information Technology | MPHASIS | |
| Multi Commodity Exchange of India Ltd. | Financial Services | MCX | |
| NHPC Ltd. | Power | NHPC | |
| NLC India Ltd. | Power | NLCINDIA | |
| NMDC Ltd. | Metals & Mining | NMDC | |
| NTPC Green Energy Ltd. | Power | NTPCGREEN | |
| Narayana Hrudayalaya Ltd. | Healthcare | NH | |
| National Aluminium Co. Ltd. | Metals & Mining | NATIONALUM | |
| Nippon Life India Asset Management Ltd. | Financial Services | NAM-INDIA | |
| Oberoi Realty Ltd. | Realty | OBEROIRLTY | |
| Oil India Ltd. | Oil Gas & Consumable Fuels | OIL | |
| One 97 Communications Ltd. | Financial Services | PAYTM | |
| Oracle Financial Services Software Ltd. | Information Technology | OFSS | |
| PB Fintech Ltd. | Financial Services | POLICYBZR | |
| PI Industries Ltd. | Chemicals | PIIND | |
| Page Industries Ltd. | Textiles | PAGEIND | |
| Patanjali Foods Ltd. | Fast Moving Consumer Goods | PATANJALI | |
| Persistent Systems Ltd. | Information Technology | PERSISTENT | |
| Petronet LNG Ltd. | Oil Gas & Consumable Fuels | PETRONET | |
| Phoenix Mills Ltd. | Realty | PHOENIXLTD | |
| Piramal Finance Ltd. | Financial Services | PIRAMALFIN | |
| Premier Energies Ltd. | Capital Goods | PREMIERENE | |
| Prestige Estates Projects Ltd. | Realty | PRESTIGE | |
| REC Ltd. | Financial Services | RECLTD | |
| Radico Khaitan Ltd | Fast Moving Consumer Goods | RADICO | |
| Rail Vikas Nigam Ltd. | Construction | RVNL | |
| SBI Cards and Payment Services Ltd. | Financial Services | SBICARD | |
| SRF Ltd. | Chemicals | SRF | |
| Schaeffler India Ltd. | Automobile and Auto Components | SCHAEFFLER | |
| Shree Cement Ltd. | Construction Materials | SHREECEM | |
| Steel Authority of India Ltd. | Metals & Mining | SAIL | |
| Sundaram Finance Ltd. | Financial Services | SUNDARMFIN | |
| Supreme Industries Ltd. | Capital Goods | SUPREMEIND | |
| Suzlon Energy Ltd. | Capital Goods | SUZLON | |
| Swiggy Ltd. | Consumer Services | SWIGGY | |
| Tata Communications Ltd. | Telecommunication | TATACOMM | |
| Tata Investment Corporation Ltd. | Financial Services | TATAINVEST | |
| Thermax Ltd. | Capital Goods | THERMAX | |
| Torrent Power Ltd. | Power | TORNTPOWER | |
| Tube Investments of India Ltd. | Automobile and Auto Components | TIINDIA | |
| UNO Minda Ltd. | Automobile and Auto Components | UNOMINDA | |
| UPL Ltd. | Chemicals | UPL | |
| United Breweries Ltd. | Fast Moving Consumer Goods | UBL | |
| United Spirits Ltd. | Fast Moving Consumer Goods | UNITDSPR | |
| Vishal Mega Mart Ltd. | Consumer Services | VMM | |
| Voltas Ltd. | Consumer Durables | VOLTAS | |
| Waaree Energies Ltd. | Capital Goods | WAAREEENER | |
| Yes Bank Ltd. | Financial Services | YESBANK |
Against the Nifty 50
Smaller companies against the largest: the question for anyone choosing between Nifty Midcap 150 and the Nifty 50. Over 21 years it beat the Nifty 50 by 3.3 percentage points a year, and was ahead in 12 of 20 calendar years.
Relative strength
Weekly: Nifty Midcap 150's total return divided by the Nifty 50's, 100 at the start of the range shown.
How to read it. Rising: Nifty Midcap 150 is outrunning the Nifty 50. Falling: it is lagging. The level means nothing; the direction is the reading.
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Three-year lead or lag
Weekly: Nifty Midcap 150's return a year over the past three years minus the Nifty 50's, percentage points.
How to read it. Above zero, someone who bought three years earlier was ahead of the broad index; below, behind.
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Monthly total returns. Up capture: how much of the Nifty 50's gain in its rising months this index caught (100 is all of it); down capture: the same for falling months. Beta above 1 means bigger swings than the Nifty 50.
| Ahead by, a year | Up capture | Down capture | Beta | Correlation | Tracking error | |
|---|---|---|---|---|---|---|
| Full history, from May 2005 | +3.3 pts | 112 | 104 | 1.13 | 0.90 | 11.8% |
| Last 5 years, from Oct 2021 | +8.4 pts | 131 | 93 | 1.12 | 0.88 | 8.5% |
Models and ETFs
8 of the Tipsheet models hold Nifty Midcap 150 today. 10 ETFs track it. Its trend and momentum have a page of their own.
Model holdings on 14 Oct 2026. Rule-based models, not advice; each page has the rule and its record after costs and tax.
| Model | Weight in Nifty Midcap 150 today |
|---|---|
| Adaptive asset allocation | 40% |
| 1/N, India | 20% |
| 1/N, with global | 17% |
| Endowment-style (Indian approximation) | 10% |
| Trend, India only | 3% |
| Trend, India only (first version, with the Nifty 50) | 3% |
| Trend, with global (first version, with the Nifty 50) | 3% |
| Trend, with global | 3% |
| Midcap 150, 200-day rule | 0% |
| Robust equity momentum | 0% |
| Robust trend | 0% |
| Size rotation (first version, with the Nifty 50) | 0% |
| Size rotation | 0% |
From the ETF desk. Tracking difference: what a holder buying and selling on the exchange got, minus the index's total return, over the past year. Tracking error: how much that gap wobbled week to week.
| ETF | NSE symbol | Expense ratio | Assets | Tracking difference, 1 year | Tracking error, 1 year | Daily traded value (median) | More |
|---|---|---|---|---|---|---|---|
| Nippon India ETF Nifty Midcap 150 | MID150BEES | 0.18% | ₹3,850 cr | +0.46 pts | 1.48% | ₹14.0 cr | |
| Mirae Asset Nifty Midcap 150 ETF | MIDCAPETF | 0.05% | ₹1,848 cr | −0.11 pts | 1.00% | ₹5.3 cr | |
| ICICI Prudential Nifty Midcap 150 ETF | MIDCAPIETF | 0.13% | ₹776 cr | −0.13 pts | 1.47% | ₹2.1 cr | |
| Zerodha Nifty Midcap 150 ETF | MID150CASE | 0.18% | ₹266 cr | +0.20 pts | 1.35% | ₹1.3 cr | |
| HDFC NIFTY Midcap 150 ETF - Growth Option | HDFCMID150 | 0.17% | ₹159 cr | −0.28 pts | 1.83% | ₹0.9 cr | |
| Kotak Nifty Midcap 150 ETF | MID150 | 0.08% | ₹13.9 cr | −0.52 pts | 6.06% | ₹0.1 cr | |
| UTI Nifty Midcap 150 Exchange Traded Fund | MIDCAPBETA | 0.24% | ₹13.4 cr | −0.65 pts | 3.91% | ₹0.0 cr | |
| SBI Nifty Midcap 150 ETF | SBINMID150 | 0.17% | ₹13.3 cr | – | – | ₹0.0 cr | |
| DSP Nifty Midcap 150 ETF | MIDCAPADD | 0.17% | ₹8.2 cr | – | 20.17% | ₹0.0 cr | |
| Groww Nifty Midcap 150 ETF | GROWWMC150 | 0.21% | ₹6.3 cr | – | 4.43% | ₹0.0 cr |
Data and sources
Nifty Midcap 150 is computed and published by NSE Indices. History here starts 1 Apr 2005; NSE launched the index on 1 Apr 2016, from a base date of April 01, 2005. All returns are on NSE's total-return index unless marked as price return.
Historical index data. NSE publishes daily index values, total-return values and P/E, P/B and dividend yield for every index on niftyindices.com: historical data. Pick Nifty Midcap 150 there to download its full series.
- Nifty Midcap 150 on niftyindices.com: description and methodology
- NSE's monthly factsheet (PDF)
- Current constituents (CSV)
- The weekly series on this page (JSON): growth of 100, drawdown, volatility and rolling returns
Index values themselves are NSE's and are not republished here; the charts show growth of 100 and other figures computed from them.
The workings
The question
Data
Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.