Markets
Nifty MidSmallcap 400
Nifty MidSmallcap 400 is an NSE broad market index of 401 stocks. Since 2005 it has compounded 16.4% a year with dividends reinvested; over the past year it rose 3.1%. Its deepest fall was 74%, 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 MidSmallcap 400. Data to 14 Oct 2026.
- Trend
- Downtrend since Oct 2026
- Momentum
- 38th of 133 markets, by rank
- Below its high
- 5.9% total return
- P/E
- 30.2 46th percentile since 2021
- 1 year
- +3.1% total return
- 5 years
- 13.3% a year
- 10 years
- 15.6% a year
- Since 2005
- 16.4% a year
- Volatility
- 16.4% past year; usual 18%
NSE launched Nifty MidSmallcap 400 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 MidSmallcap 400: 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 | −3.9% | −3.9% | 0.0 pts | |
| 3 months | −3.6% | −3.8% | +0.2 pts | |
| 6 months | +6.9% | +6.6% | +0.4 pts | |
| This year | +1.4% | +0.9% | +0.5 pts | |
| 1 year | +3.1% | +2.5% | +0.6 pts | |
| 3 years, a year | +13.6% | +12.9% | +0.7 pts | |
| 5 years, a year | +13.3% | +12.5% | +0.8 pts | |
| 10 years, a year | +15.6% | +14.7% | +0.9 pts | |
| 15 years, a year | +17.0% | +15.8% | +1.2 pts | |
| 20 years, a year | +14.4% | +13.1% | +1.3 pts | |
| Since Apr 2005, a year | +16.4% | +15.0% | +1.3 pts |
Year by year
15 of the 20 full calendar years since 2006 ended higher. 16 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty MidSmallcap 400: 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 | +1.4% | +0.9% | +0.5 pts | −14.3% | |
| 2025 | +1.8% | +1.2% | +0.6 pts | −19.5% | |
| 2024 | +25.5% | +24.7% | +0.7 pts | −10.7% | |
| 2023 | +46.2% | +45.3% | +1.0 pts | −8.7% | |
| 2022 | +1.9% | +0.9% | +1.0 pts | −22.3% | |
| 2021 | +52.6% | +51.3% | +1.4 pts | −9.6% | |
| 2020 | +25.9% | +24.6% | +1.2 pts | −39.8% | |
| 2019 | −2.0% | −2.9% | +0.9 pts | −16.6% | |
| 2018 | −17.3% | −18.0% | +0.7 pts | −27.7% | |
| 2017 | +56.6% | +55.3% | +1.3 pts | −7.2% | |
| 2016 | +4.9% | +3.8% | +1.1 pts | −18.8% | |
| 2015 | +10.3% | +9.0% | +1.2 pts | −12.8% | |
| 2014 | +65.5% | +63.2% | +2.3 pts | −7.8% | |
| 2013 | −3.0% | −4.7% | +1.7 pts | −26.3% | |
| 2012 | +44.6% | +42.2% | +2.3 pts | −12.8% | |
| 2011 | −32.4% | −33.5% | +1.0 pts | −33.7% | |
| 2010 | +19.3% | +17.8% | +1.5 pts | −17.5% | |
| 2009 | +115.0% | +111.6% | +3.4 pts | −23.9% | |
| 2008 | −66.2% | −66.7% | +0.5 pts | −72.1% | |
| 2007 | +84.3% | +82.1% | +2.2 pts | −16.7% | |
| 2006 | +29.8% | +28.2% | +1.6 pts | −37.9% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 74%, took 14 months to reach bottom and 5.2 years more to climb back. Today it is 5.9% below its high.
Nifty MidSmallcap 400: 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 |
|---|---|---|---|---|---|---|
| −73.8% | 7 Jan 2008 | 9 Mar 2009 | 14 months | 5.2 years | 20 May 2014 | 6.4 years |
| −48.9% | 11 Jan 2018 | 23 Mar 2020 | 2.2 years | 9 months | 1 Jan 2021 | 3.0 years |
| −37.9% | 10 May 2006 | 14 Jun 2006 | 35 days | 7 months | 12 Jan 2007 | 8 months |
| −22.6% | 24 Sept 2024 | 3 Mar 2025 | 5 months | 16 months | 18 Jun 2026 | 21 months |
| −22.3% | 17 Jan 2022 | 20 Jun 2022 | 5 months | 6 months | 5 Dec 2022 | 11 months |
| −20.0% | 6 Aug 2015 | 26 Feb 2016 | 7 months | 4 months | 1 Jul 2016 | 11 months |
| −16.7% | 7 Feb 2007 | 7 Mar 2007 | 28 days | 2 months | 21 May 2007 | 3 months |
| −15.1% | 19 Sept 2005 | 28 Oct 2005 | 39 days | 45 days | 12 Dec 2005 | 3 months |
| −14.8% | 30 Oct 2016 | 26 Dec 2016 | 57 days | 42 days | 6 Feb 2017 | 3 months |
| −11.4% | 14 Dec 2022 | 28 Mar 2023 | 3 months | 58 days | 25 May 2023 | 5 months |
What holding it was like
From every day in its history, what holding Nifty MidSmallcap 400 for a fixed span would have returned a year. Over five years the middle outcome was 15.9% a year; the worst −3.6% and the best 37.9%; 2% 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 | −68.1% | −13.5% | +12.1% | +69.2% | +171.3% | 27% | 21.5 |
| 3 years | −16.7% | −1.5% | +17.9% | +29.9% | +41.8% | 12% | 7.2 |
| 5 years | −3.6% | +4.1% | +15.9% | +25.7% | +37.9% | 2% | 4.3 |
| 7 years | +3.7% | +8.4% | +15.5% | +20.0% | +26.2% | 0% | 3.1 |
| 10 years | +5.8% | +10.6% | +16.2% | +20.1% | +22.9% | 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 (+15.3% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,31,222 | 1.05× | +5.6% | |
| 2024 | 34 | ₹3,40,000 | ₹3,64,734 | 1.07× | +5.1% | |
| 2023 | 46 | ₹4,60,000 | ₹5,70,258 | 1.24× | +11.5% | |
| 2022 | 58 | ₹5,80,000 | ₹8,08,785 | 1.39× | +14.0% | |
| 2021 | 70 | ₹7,00,000 | ₹10,88,826 | 1.56× | +15.3% | |
| 2020 | 82 | ₹8,20,000 | ₹15,68,222 | 1.91× | +18.9% | |
| 2019 | 94 | ₹9,40,000 | ₹20,21,026 | 2.15× | +19.2% | |
| 2018 | 106 | ₹10,60,000 | ₹24,27,127 | 2.29× | +18.2% | |
| 2017 | 118 | ₹11,80,000 | ₹28,76,596 | 2.44× | +17.4% | |
| 2016 | 130 | ₹13,00,000 | ₹34,61,745 | 2.66× | +17.2% | |
| 2015 | 142 | ₹14,20,000 | ₹40,81,969 | 2.87× | +16.8% | |
| 2014 | 154 | ₹15,40,000 | ₹49,45,737 | 3.21× | +17.0% | |
| 2013 | 166 | ₹16,60,000 | ₹61,33,047 | 3.69× | +17.4% | |
| 2012 | 178 | ₹17,80,000 | ₹73,76,087 | 4.14× | +17.5% | |
| 2011 | 190 | ₹19,00,000 | ₹85,57,911 | 4.50× | +17.2% | |
| 2010 | 202 | ₹20,20,000 | ₹96,63,384 | 4.78× | +16.7% | |
| 2009 | 214 | ₹21,40,000 | ₹1,16,42,506 | 5.44× | +16.9% | |
| 2008 | 226 | ₹22,60,000 | ₹1,32,62,775 | 5.87× | +16.6% | |
| 2007 | 238 | ₹23,80,000 | ₹1,47,08,033 | 6.18× | +16.1% | |
| 2006 | 250 | ₹25,00,000 | ₹1,66,06,889 | 6.64× | +15.8% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 16.4%, against a usual 17.8% for this index. 63% of months ended higher, and 180 days moved 3% or more either way.
Nifty MidSmallcap 400: 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 | −12.8% |
| 21 Jan 2008 | −12.4% |
| 24 Aug 2015 | −8.8% |
| 22 Jan 2008 | −8.8% |
| 24 Oct 2008 | −8.2% |
| Best days | Return |
|---|---|
| 18 May 2009 | +10.7% |
| 23 Jan 2008 | +8.2% |
| 20 May 2009 | +7.1% |
| 25 Jan 2008 | +6.6% |
| 28 Oct 2008 | +6.3% |
| Worst months | Return |
|---|---|
| Oct 2008 | −31.6% |
| Mar 2020 | −29.8% |
| Jan 2008 | −22.3% |
| Jun 2008 | −20.3% |
| Sept 2008 | −17.1% |
| Best months | Return |
|---|---|
| May 2009 | +46.5% |
| May 2014 | +18.0% |
| Apr 2009 | +17.6% |
| Dec 2007 | +16.6% |
| Jan 2012 | +15.6% |
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 30.2 is in the middle of its range since NSE moved to consolidated earnings in March 2021. Price to book, 3.67, is in the middle of its range over the full history.
Price to earnings
Month-ends, as NSE publishes them. 1 month-ends above 101 are left out (highest 458): 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 30.2×, range 20.8× to 85.6×.
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 3.67×, range 1.69× to 5.21×.
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 | 30.22 | 27 | 28 | 46 | 33.80 | 20.79 | 457.89 |
| Price to book | 3.67 | 65 | 63 | – | 3.20 | 1.69 | 5.21 |
| Dividend yield, % | 0.89 | 50 | 52 | – | 0.89 | 0.43 | 1.88 |
What it holds
401 stocks as NSE lists them today. The ten largest make up 10.9% of the index. It is weighted by free float market capitalization and rebalanced twice a year.
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 20 items. Weight, %: highest Financial Services at 24.2%, 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. | 1.34% |
| 2 | Federal Bank Ltd. | 1.25% |
| 3 | Laurus Labs Ltd. | 1.23% |
| 4 | One 97 Communications Ltd. | 1.15% |
| 5 | Hero MotoCorp Ltd. | 1.08% |
| 6 | Indian Hotels Co. Ltd. | 1.02% |
| 7 | Coforge Ltd. | 0.97% |
| 8 | Bharat Heavy Electricals Ltd. | 0.96% |
| 9 | IndusInd Bank Ltd. | 0.94% |
| 10 | AU Small Finance Bank Ltd. | 0.93% |
NSE's constituent list for Nifty MidSmallcap 400, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| 360 ONE WAM Ltd. | Financial Services | 360ONE | |
| ACC Ltd. | Construction Materials | ACC | |
| ACME Solar Holdings Ltd. | Power | ACMESOLAR | |
| AIA Engineering Ltd. | Capital Goods | AIAENG | |
| APL Apollo Tubes Ltd. | Capital Goods | APLAPOLLO | |
| AU Small Finance Bank Ltd. | Financial Services | AUBANK | |
| AWL Agri Business Ltd. | Fast Moving Consumer Goods | AWL | |
| Aadhar Housing Finance Ltd. | Financial Services | AADHARHFC | |
| Aarti Industries Ltd. | Chemicals | AARTIIND | |
| Aavas Financiers Ltd. | Financial Services | AAVAS | |
| Abbott India Ltd. | Healthcare | ABBOTINDIA | |
| Action Construction Equipment Ltd. | Capital Goods | ACE | |
| Acutaas Chemicals Ltd. | Healthcare | ACUTAAS | |
| Adani Total Gas Ltd. | Oil Gas & Consumable Fuels | ATGL | |
| Aditya Birla Capital Ltd. | Financial Services | ABCAPITAL | |
| Aditya Birla Real Estate Ltd. | Realty | ABREL | |
| Aditya Birla Sun Life AMC Ltd. | Financial Services | ABSLAMC | |
| Aditya Infotech Ltd. | Capital Goods | CPPLUS | |
| Aegis Logistics Ltd. | Oil Gas & Consumable Fuels | AEGISLOG | |
| Aegis Vopak Terminals Ltd. | Oil Gas & Consumable Fuels | AEGISVOPAK | |
| Aether Industries Ltd. | Chemicals | AETHER | |
| Afcons Infrastructure Ltd. | Construction | AFCONS | |
| Affle 3i Ltd. | Information Technology | AFFLE | |
| Ajanta Pharmaceuticals Ltd. | Healthcare | AJANTPHARM | |
| Alkem Laboratories Ltd. | Healthcare | ALKEM | |
| Allied Blenders and Distillers Ltd. | Fast Moving Consumer Goods | ABDL | |
| Amara Raja Energy & Mobility Ltd. | Automobile and Auto Components | ARE&M | |
| Amber Enterprises India Ltd. | Consumer Durables | AMBER | |
| Anand Rathi Wealth Ltd. | Financial Services | ANANDRATHI | |
| Anant Raj Ltd. | Realty | ANANTRAJ | |
| Angel One Ltd. | Financial Services | ANGELONE | |
| Anthem Biosciences Ltd. | Healthcare | ANTHEM | |
| Anupam Rasayan India Ltd. | Chemicals | ANURAS | |
| Apar Industries Ltd. | Capital Goods | APARINDS | |
| Apollo Tyres Ltd. | Automobile and Auto Components | APOLLOTYRE | |
| Aptus Value Housing Finance India Ltd. | Financial Services | APTUS | |
| Asahi India Glass Ltd. | Automobile and Auto Components | ASAHIINDIA | |
| Ashok Leyland Ltd. | Capital Goods | ASHOKLEY | |
| Aster DM Quality Care Ltd. | Healthcare | ASTERDM | |
| Astral Ltd. | Capital Goods | ASTRAL | |
| Ather Energy Ltd. | Automobile and Auto Components | ATHERENERG | |
| Atul Ltd. | Chemicals | ATUL | |
| Aurobindo Pharma Ltd. | Healthcare | AUROPHARMA | |
| Authum Investment & Infrastructure Ltd. | Financial Services | AIIL | |
| Avanti Feeds Ltd. | Fast Moving Consumer Goods | AVANTIFEED | |
| Azad Engineering Ltd. | Capital Goods | AZAD | |
| BEML Ltd. | Capital Goods | BEML | |
| BLS International Services Ltd. | Consumer Services | BLS | |
| Bagmane Prime Office REIT | Realty | BAGMANE | |
| Bajaj Housing Finance Ltd. | Financial Services | BAJAJHFL | |
| Balkrishna Industries Ltd. | Automobile and Auto Components | BALKRISIND | |
| Balrampur Chini Mills Ltd. | Fast Moving Consumer Goods | BALRAMCHIN | |
| Bandhan Bank Ltd. | Financial Services | BANDHANBNK | |
| Bank of India | Financial Services | BANKINDIA | |
| Bank of Maharashtra | Financial Services | MAHABANK | |
| Bata India Ltd. | Consumer Durables | BATAINDIA | |
| Belrise Industries Ltd. | Automobile and Auto Components | BELRISE | |
| Berger Paints India Ltd. | Consumer Durables | BERGEPAINT | |
| Bharat Coking Coal Ltd. | Oil Gas & Consumable Fuels | BHARATCOAL | |
| 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 | |
| Birlasoft Ltd. | Information Technology | BSOFT | |
| Black Box Ltd. | Information Technology | BBOX | |
| Blue Star Ltd. | Consumer Durables | BLUESTARCO | |
| Brainbees Solutions Ltd. | Consumer Services | FIRSTCRY | |
| Brigade Enterprises Ltd. | Realty | BRIGADE | |
| Brookfield India Real Estate Trust | Realty | BIRET | |
| CCL Products (I) Ltd. | Fast Moving Consumer Goods | CCL | |
| CESC Ltd. | Power | CESC | |
| CIE Automotive India Ltd. | Automobile and Auto Components | CIEINDIA | |
| CRISIL Ltd. | Financial Services | CRISIL | |
| Can Fin Homes Ltd. | Financial Services | CANFINHOME | |
| Canara HSBC Life Insurance Company Ltd. | Financial Services | CANHLIFE | |
| Caplin Point Laboratories Ltd. | Healthcare | CAPLIPOINT | |
| Capri Global Capital Ltd. | Financial Services | CGCL | |
| Carborundum Universal Ltd. | Capital Goods | CARBORUNIV | |
| Cartrade Tech Ltd. | Consumer Services | CARTRADE | |
| Castrol India Ltd. | Oil Gas & Consumable Fuels | CASTROLIND | |
| Ceat Ltd. | Automobile and Auto Components | CEATLTD | |
| Cemindia Projects Ltd. | Construction | CEMPRO | |
| Central Bank of India | Financial Services | CENTRALBK | |
| Central Depository Services (India) Ltd. | Financial Services | CDSL | |
| Central Mine Planning & Design Institute Ltd. | Services | CMPDI | |
| Chambal Fertilizers & Chemicals Ltd. | Chemicals | CHAMBLFERT | |
| Chennai Petroleum Corporation Ltd. | Oil Gas & Consumable Fuels | CHENNPETRO | |
| Choice International Ltd. | Financial Services | CHOICEIN | |
| Cholamandalam Financial Holdings Ltd. | Financial Services | CHOLAHLDNG | |
| City Union Bank Ltd. | Financial Services | CUB | |
| Clean Max Enviro Energy Solutions Ltd. | Power | CLEANMAX | |
| Clean Science and Technology Ltd. | Chemicals | CLEAN | |
| Cochin Shipyard Ltd. | Capital Goods | COCHINSHIP | |
| Coforge Ltd. | Information Technology | COFORGE | |
| Cohance Lifesciences Ltd. | Healthcare | COHANCE | |
| Colgate Palmolive (India) Ltd. | Fast Moving Consumer Goods | COLPAL | |
| Computer Age Management Services Ltd. | Financial Services | CAMS | |
| Concord Biotech Ltd. | Healthcare | CONCORDBIO | |
| Container Corporation of India Ltd. | Services | CONCOR | |
| Coromandel International Ltd. | Chemicals | COROMANDEL | |
| Craftsman Automation Ltd. | Automobile and Auto Components | CRAFTSMAN | |
| CreditAccess Grameen Ltd. | Financial Services | CREDITACC | |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Durables | CROMPTON | |
| Cupid Ltd. | Fast Moving Consumer Goods | CUPID | |
| Cyient Ltd. | Information Technology | CYIENT | |
| DOMS Industries Ltd. | Fast Moving Consumer Goods | DOMS | |
| Dabur India Ltd. | Fast Moving Consumer Goods | DABUR | |
| Dalmia Bharat Ltd. | Construction Materials | DALBHARAT | |
| Data Patterns (India) Ltd. | Capital Goods | DATAPATTNS | |
| Deepak Fertilisers & Petrochemicals Corp. Ltd. | Chemicals | DEEPAKFERT | |
| Deepak Nitrite Ltd. | Chemicals | DEEPAKNTR | |
| Delhivery Ltd. | Services | DELHIVERY | |
| Devyani International Ltd. | Consumer Services | DEVYANI | |
| Dixon Technologies (India) Ltd. | Consumer Durables | DIXON | |
| Dr. Lal Path Labs Ltd. | Healthcare | LALPATHLAB | |
| Dummy HEG Ltd. | Capital Goods | DUMMYHEG | |
| E.I.D. Parry (India) Ltd. | Fast Moving Consumer Goods | EIDPARRY | |
| EIH Ltd. | Consumer Services | EIHOTEL | |
| EMBASSY OFFICE PARKS REIT | Realty | EMBASSY | |
| Elecon Engineering Co. Ltd. | Capital Goods | ELECON | |
| Elgi Equipments Ltd. | Capital Goods | ELGIEQUIP | |
| Emami Ltd. | Fast Moving Consumer Goods | EMAMILTD | |
| Emcure Pharmaceuticals Ltd. | Healthcare | EMCURE | |
| Emmvee Photovoltaic Power Ltd. | Capital Goods | EMMVEE | |
| Endurance Technologies Ltd. | Automobile and Auto Components | ENDURANCE | |
| Engineers India Ltd. | Construction | ENGINERSIN | |
| 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 | |
| Finolex Cables Ltd. | Capital Goods | FINCABLES | |
| Firstsource Solutions Ltd. | Services | FSL | |
| Five-Star Business Finance Ltd. | Financial Services | FIVESTAR | |
| Force Motors Ltd. | Automobile and Auto Components | FORCEMOT | |
| Fortis Healthcare Ltd. | Healthcare | FORTIS | |
| Fractal Analytics Ltd. | Information Technology | FRACTAL | |
| GE Vernova T&D India Ltd. | Capital Goods | GVT&D | |
| GMR Airports Ltd. | Services | GMRAIRPORT | |
| Gabriel India Ltd. | Automobile and Auto Components | GABRIEL | |
| Gallantt Ispat Ltd. | Capital Goods | GALLANTT | |
| Garden Reach Shipbuilders & Engineers Ltd. | Capital Goods | GRSE | |
| General Insurance Corporation of India | Financial Services | GICRE | |
| Gillette India Ltd. | Fast Moving Consumer Goods | GILLETTE | |
| Gland Pharma Ltd. | Healthcare | GLAND | |
| Glaxosmithkline Pharmaceuticals Ltd. | Healthcare | GLAXO | |
| Glenmark Pharmaceuticals Ltd. | Healthcare | GLENMARK | |
| Global Health Ltd. | Healthcare | MEDANTA | |
| Godawari Power & Ispat Ltd. | Capital Goods | GPIL | |
| Godfrey Phillips India Ltd. | Fast Moving Consumer Goods | GODFRYPHLP | |
| Godrej Industries Ltd. | Diversified | GODREJIND | |
| Godrej Properties Ltd. | Realty | GODREJPROP | |
| Granules India Ltd. | Healthcare | GRANULES | |
| Graphite India Ltd. | Capital Goods | GRAPHITE | |
| Gravita India Ltd. | Metals & Mining | GRAVITA | |
| Great Eastern Shipping Co. Ltd. | Services | GESHIP | |
| Gujarat Fluorochemicals Ltd. | Chemicals | FLUOROCHEM | |
| Gujarat Mineral Development Corporation Ltd. | Metals & Mining | GMDCLTD | |
| HBL Engineering Ltd. | Capital Goods | HBLENGINE | |
| HDB Financial Services Ltd. | Financial Services | HDBFS | |
| HEG Advanced Materials Ltd. | Capital Goods | HEGAM | |
| HFCL Ltd. | Telecommunication | HFCL | |
| Havells India Ltd. | Consumer Durables | HAVELLS | |
| Hero MotoCorp Ltd. | Automobile and Auto Components | HEROMOTOCO | |
| Hexaware Technologies Ltd. | Information Technology | HEXT | |
| Himadri Speciality Chemical Ltd. | Chemicals | HSCL | |
| Hindustan Copper Ltd. | Metals & Mining | HINDCOPPER | |
| Hindustan Petroleum Corporation Ltd. | Oil Gas & Consumable Fuels | HINDPETRO | |
| Home First Finance Company India Ltd. | Financial Services | HOMEFIRST | |
| Honasa Consumer Ltd. | Fast Moving Consumer Goods | HONASA | |
| Honeywell Automation India Ltd. | Capital Goods | HONAUT | |
| 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 | |
| IDBI Bank Ltd. | Financial Services | IDBI | |
| IDFC First Bank Ltd. | Financial Services | IDFCFIRSTB | |
| IFCI Ltd. | Financial Services | IFCI | |
| IIFL Finance Ltd. | Financial Services | IIFL | |
| INOX India Ltd. | Capital Goods | INOXINDIA | |
| IRB Infrastructure Developers Ltd. | Construction | IRB | |
| IRCON International Ltd. | Construction | IRCON | |
| ITC Hotels Ltd. | Consumer Services | ITCHOTELS | |
| ITI Ltd. | Telecommunication | ITI | |
| India Cements Ltd. | Construction Materials | INDIACEM | |
| Indiamart Intermesh Ltd. | Consumer Services | INDIAMART | |
| Indian Bank | Financial Services | INDIANB | |
| Indian Energy Exchange Ltd. | Financial Services | IEX | |
| 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 | |
| Indraprastha Gas Ltd. | Oil Gas & Consumable Fuels | IGL | |
| Indus Towers Ltd. | Telecommunication | INDUSTOWER | |
| IndusInd Bank Ltd. | Financial Services | INDUSINDBK | |
| Info Edge (India) Ltd. | Consumer Services | NAUKRI | |
| Inox Wind Ltd. | Capital Goods | INOXWIND | |
| Intellect Design Arena Ltd. | Information Technology | INTELLECT | |
| International Gemological Institute Ltd. | Services | IGIL | |
| Inventurus Knowledge Solutions Ltd. | Information Technology | IKS | |
| Ipca Laboratories Ltd. | Healthcare | IPCALAB | |
| J.K. Cement Ltd. | Construction Materials | JKCEMENT | |
| JBM Auto Ltd. | Automobile and Auto Components | JBMA | |
| JK Tyre & Industries Ltd. | Automobile and Auto Components | JKTYRE | |
| JM Financial Ltd. | Financial Services | JMFINANCIL | |
| JSW Cement Ltd. | Construction Materials | JSWCEMENT | |
| JSW Energy Ltd. | Power | JSWENERGY | |
| JSW Infrastructure Ltd. | Services | JSWINFRA | |
| Jain Resource Recycling Ltd. | Metals & Mining | JAINREC | |
| Jaiprakash Power Ventures Ltd. | Power | JPPOWER | |
| Jammu & Kashmir Bank Ltd. | Financial Services | J&KBANK | |
| Jindal Saw Ltd. | Capital Goods | JINDALSAW | |
| Jindal Stainless Ltd. | Metals & Mining | JSL | |
| Jubilant Foodworks Ltd. | Consumer Services | JUBLFOOD | |
| Jubilant Ingrevia Ltd. | Chemicals | JUBLINGREA | |
| Jupiter Wagons Ltd. | Capital Goods | JWL | |
| Jyoti CNC Automation Ltd. | Capital Goods | JYOTICNC | |
| K.P.R. Mill Ltd. | Textiles | KPRMILL | |
| KEI Industries Ltd. | Capital Goods | KEI | |
| KPIT Technologies Ltd. | Information Technology | KPITTECH | |
| KSB Ltd. | Capital Goods | KSB | |
| Kajaria Ceramics Ltd. | Consumer Durables | KAJARIACER | |
| Kalpataru Projects International Ltd. | Construction | KPIL | |
| Kalyan Jewellers India Ltd. | Consumer Durables | KALYANKJIL | |
| Karur Vysya Bank Ltd. | Financial Services | KARURVYSYA | |
| Kaynes Technology India Ltd. | Capital Goods | KAYNES | |
| Kec International Ltd. | Construction | KEC | |
| Kfin Technologies Ltd. | Financial Services | KFINTECH | |
| Kirloskar Brothers Ltd. | Capital Goods | KIRLOSBROS | |
| Kirloskar Oil Eng Ltd. | Capital Goods | KIRLOSENG | |
| Krishna Institute of Medical Sciences Ltd. | Healthcare | KIMS | |
| 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 | |
| LT Foods Ltd. | Fast Moving Consumer Goods | LTFOODS | |
| Laurus Labs Ltd. | Healthcare | LAURUSLABS | |
| Lemon Tree Hotels Ltd. | Consumer Services | LEMONTREE | |
| 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 | |
| MMTC Ltd. | Services | MMTC | |
| MRF Ltd. | Automobile and Auto Components | MRF | |
| MTAR Technologies Ltd. | Capital Goods | MTARTECH | |
| Mahanagar Gas Ltd. | Oil Gas & Consumable Fuels | MGL | |
| Mahindra & Mahindra Financial Services Ltd. | Financial Services | M&MFIN | |
| Manappuram Finance Ltd. | Financial Services | MANAPPURAM | |
| Mangalore Refinery & Petrochemicals Ltd. | Oil Gas & Consumable Fuels | MRPL | |
| Mankind Pharma Ltd. | Healthcare | MANKIND | |
| Marico Ltd. | Fast Moving Consumer Goods | MARICO | |
| Max Financial Services Ltd. | Financial Services | MFSL | |
| Meesho Ltd. | Consumer Services | MEESHO | |
| Minda Corporation Ltd. | Automobile and Auto Components | MINDACORP | |
| Motherson Sumi Wiring India Ltd. | Automobile and Auto Components | MSUMI | |
| Motilal Oswal Financial Services Ltd. | Financial Services | MOTILALOFS | |
| MphasiS Ltd. | Information Technology | MPHASIS | |
| Multi Commodity Exchange of India Ltd. | Financial Services | MCX | |
| NATCO Pharma Ltd. | Healthcare | NATCOPHARM | |
| NBCC (India) Ltd. | Construction | NBCC | |
| NCC Ltd. | Construction | NCC | |
| NHPC Ltd. | Power | NHPC | |
| NLC India Ltd. | Power | NLCINDIA | |
| NMDC Ltd. | Metals & Mining | NMDC | |
| NMDC Steel Ltd. | Metals & Mining | NSLNISP | |
| NTPC Green Energy Ltd. | Power | NTPCGREEN | |
| Narayana Hrudayalaya Ltd. | Healthcare | NH | |
| National Aluminium Co. Ltd. | Metals & Mining | NATIONALUM | |
| Nava Ltd. | Power | NAVA | |
| Navin Fluorine International Ltd. | Chemicals | NAVINFLUOR | |
| Netweb Technologies India Ltd. | Information Technology | NETWEB | |
| Neuland Laboratories Ltd. | Healthcare | NEULANDLAB | |
| Nippon Life India Asset Management Ltd. | Financial Services | NAM-INDIA | |
| Nuvama Wealth Management Ltd. | Financial Services | NUVAMA | |
| Nuvoco Vistas Corporation Ltd. | Construction Materials | NUVOCO | |
| Oberoi Realty Ltd. | Realty | OBEROIRLTY | |
| Oil India Ltd. | Oil Gas & Consumable Fuels | OIL | |
| Ola Electric Mobility Ltd. | Automobile and Auto Components | OLAELEC | |
| Olectra Greentech Ltd. | Automobile and Auto Components | OLECTRA | |
| One 97 Communications Ltd. | Financial Services | PAYTM | |
| Onesource Specialty Pharma Ltd. | Healthcare | ONESOURCE | |
| Oracle Financial Services Software Ltd. | Information Technology | OFSS | |
| PB Fintech Ltd. | Financial Services | POLICYBZR | |
| PCBL Chemical Ltd. | Chemicals | PCBL | |
| PG Electroplast Ltd. | Consumer Durables | PGEL | |
| PI Industries Ltd. | Chemicals | PIIND | |
| PNB Housing Finance Ltd. | Financial Services | PNBHOUSING | |
| PTC Industries Ltd. | Capital Goods | PTCIL | |
| PVR INOX Ltd. | Media Entertainment & Publication | PVRINOX | |
| Page Industries Ltd. | Textiles | PAGEIND | |
| Paradeep Phosphates Ltd. | Chemicals | PARADEEP | |
| 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 | |
| Physicswallah Ltd. | Consumer Services | PWL | |
| Pine Labs Ltd. | Financial Services | PINELABS | |
| Piramal Finance Ltd. | Financial Services | PIRAMALFIN | |
| Piramal Pharma Ltd. | Healthcare | PPLPHARMA | |
| Poly Medicure Ltd. | Healthcare | POLYMED | |
| Poonawalla Fincorp Ltd. | Financial Services | POONAWALLA | |
| Premier Energies Ltd. | Capital Goods | PREMIERENE | |
| Prestige Estates Projects Ltd. | Realty | PRESTIGE | |
| Prime Focus Ltd. | Media Entertainment & Publication | PFOCUS | |
| Privi Speciality Chemicals Ltd. | Chemicals | PRIVISCL | |
| R R Kabel Ltd. | Capital Goods | RRKABEL | |
| RBL Bank Ltd. | Financial Services | RBLBANK | |
| REC Ltd. | Financial Services | RECLTD | |
| RHI MAGNESITA INDIA LTD. | Capital Goods | RHIM | |
| RITES Ltd. | Construction | RITES | |
| Radico Khaitan Ltd | Fast Moving Consumer Goods | RADICO | |
| Rail Vikas Nigam Ltd. | Construction | RVNL | |
| Railtel Corporation Of India Ltd. | Telecommunication | RAILTEL | |
| Rainbow Childrens Medicare Ltd. | Healthcare | RAINBOW | |
| Ramkrishna Forgings Ltd. | Automobile and Auto Components | RKFORGE | |
| Redington Ltd. | Services | REDINGTON | |
| Reliance Power Ltd. | Power | RPOWER | |
| Rubicon Research Ltd. | Healthcare | RUBICON | |
| SBI Cards and Payment Services Ltd. | Financial Services | SBICARD | |
| SJVN Ltd. | Power | SJVN | |
| SPR Auto Technologies Ltd. | Automobile and Auto Components | SHRIPISTON | |
| SRF Ltd. | Chemicals | SRF | |
| Sagility Ltd. | Information Technology | SAGILITY | |
| Sai Life Sciences Ltd. | Healthcare | SAILIFE | |
| Sammaan Capital Ltd. | Financial Services | SAMMAANCAP | |
| Sansera Engineering Ltd. | Automobile and Auto Components | SANSERA | |
| Sarda Energy and Minerals Ltd. | Metals & Mining | SARDAEN | |
| Schaeffler India Ltd. | Automobile and Auto Components | SCHAEFFLER | |
| Schneider Electric Infrastructure Ltd. | Capital Goods | SCHNEIDER | |
| Shipping Corporation of India Ltd. | Services | SCI | |
| Shree Cement Ltd. | Construction Materials | SHREECEM | |
| Shyam Metalics and Energy Ltd. | Capital Goods | SHYAMMETL | |
| Signatureglobal (India) Ltd. | Realty | SIGNATURE | |
| Sobha Ltd. | Realty | SOBHA | |
| Sona BLW Precision Forgings Ltd. | Automobile and Auto Components | SONACOMS | |
| Star Health and Allied Insurance Company Ltd. | Financial Services | STARHEALTH | |
| Steel Authority of India Ltd. | Metals & Mining | SAIL | |
| Sterlite Technologies Ltd. | Telecommunication | STLTECH | |
| Sumitomo Chemical India Ltd. | Chemicals | SUMICHEM | |
| Sun TV Network Ltd. | Media Entertainment & Publication | SUNTV | |
| Sundaram Finance Ltd. | Financial Services | SUNDARMFIN | |
| Supreme Industries Ltd. | Capital Goods | SUPREMEIND | |
| Suzlon Energy Ltd. | Capital Goods | SUZLON | |
| Swan Corp Ltd. | Chemicals | SWANCORP | |
| Swiggy Ltd. | Consumer Services | SWIGGY | |
| Syngene International Ltd. | Healthcare | SYNGENE | |
| Syrma SGS Technology Ltd. | Capital Goods | SYRMA | |
| TBO Tek Ltd. | Consumer Services | TBOTEK | |
| TD Power Systems Ltd. | Capital Goods | TDPOWERSYS | |
| Tata Chemicals Ltd. | Chemicals | TATACHEM | |
| Tata Communications Ltd. | Telecommunication | TATACOMM | |
| Tata Elxsi Ltd. | Information Technology | TATAELXSI | |
| Tata Investment Corporation Ltd. | Financial Services | TATAINVEST | |
| Tata Technologies Ltd. | Information Technology | TATATECH | |
| Tata Teleservices (Maharashtra) Ltd. | Telecommunication | TTML | |
| Techno Electric & Engineering Company Ltd. | Construction | TECHNOE | |
| Tega Industries Ltd. | Capital Goods | TEGA | |
| Tejas Networks Ltd. | Telecommunication | TEJASNET | |
| Tenneco Clean Air India Ltd. | Automobile and Auto Components | TENNIND | |
| Thangamayil Jewellery Ltd. | Consumer Durables | THANGAMAYL | |
| The New India Assurance Company Ltd. | Financial Services | NIACL | |
| The Ramco Cements Ltd. | Construction Materials | RAMCOCEM | |
| Thermax Ltd. | Capital Goods | THERMAX | |
| Timken India Ltd. | Capital Goods | TIMKEN | |
| Titagarh Rail Systems Ltd. | Capital Goods | TITAGARH | |
| Torrent Power Ltd. | Power | TORNTPOWER | |
| Transformers And Rectifiers (India) Ltd. | Capital Goods | TARIL | |
| Trident Ltd. | Textiles | TRIDENT | |
| Triveni Turbine Ltd. | Capital Goods | TRITURBINE | |
| Tube Investments of India Ltd. | Automobile and Auto Components | TIINDIA | |
| UCO Bank | Financial Services | UCOBANK | |
| UNO Minda Ltd. | Automobile and Auto Components | UNOMINDA | |
| UPL Ltd. | Chemicals | UPL | |
| UTI Asset Management Company Ltd. | Financial Services | UTIAMC | |
| United Breweries Ltd. | Fast Moving Consumer Goods | UBL | |
| United Spirits Ltd. | Fast Moving Consumer Goods | UNITDSPR | |
| Urban Company Ltd. | Consumer Services | URBANCO | |
| Usha Martin Ltd. | Capital Goods | USHAMART | |
| Vardhman Textiles Ltd. | Textiles | VTL | |
| Vedanta Iron and Steel Ltd. | Metals & Mining | VISL | |
| Vedanta Oil and Gas Ltd. | Oil Gas & Consumable Fuels | VOGL | |
| Vedanta Power Ltd. | Power | VEDPOWER | |
| Vijaya Diagnostic Centre Ltd. | Healthcare | VIJAYA | |
| Vishal Mega Mart Ltd. | Consumer Services | VMM | |
| Voltas Ltd. | Consumer Durables | VOLTAS | |
| Waaree Energies Ltd. | Capital Goods | WAAREEENER | |
| Welspun Corp Ltd. | Capital Goods | WELCORP | |
| Welspun Living Ltd. | Textiles | WELSPUNLIV | |
| Whirlpool of India Ltd. | Consumer Durables | WHIRLPOOL | |
| Wockhardt Ltd. | Healthcare | WOCKPHARMA | |
| Yes Bank Ltd. | Financial Services | YESBANK | |
| ZF Commercial Vehicle Control Systems India Ltd. | Automobile and Auto Components | ZFCVINDIA | |
| Zee Entertainment Enterprises Ltd. | Media Entertainment & Publication | ZEEL | |
| Zen Technologies Ltd. | Capital Goods | ZENTEC | |
| Zensar Technolgies Ltd. | Information Technology | ZENSARTECH | |
| Zydus Wellness Ltd. | Fast Moving Consumer Goods | ZYDUSWELL | |
| eClerx Services Ltd. | Services | ECLERX |
Against the Nifty 50
Smaller companies against the largest: the question for anyone choosing between Nifty MidSmallcap 400 and the Nifty 50. Over 21 years it beat the Nifty 50 by 2.9 percentage points a year, and was ahead in 12 of 20 calendar years.
Relative strength
Weekly: Nifty MidSmallcap 400's total return divided by the Nifty 50's, 100 at the start of the range shown.
How to read it. Rising: Nifty MidSmallcap 400 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 MidSmallcap 400'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 | +2.9 pts | 113 | 108 | 1.14 | 0.88 | 12.8% |
| Last 5 years, from Oct 2021 | +8.3 pts | 133 | 97 | 1.13 | 0.84 | 9.8% |
Models and ETFs
No Tipsheet model uses Nifty MidSmallcap 400. No ETF listed on NSE tracks it. Its trend and momentum have a page of their own.
Data and sources
Nifty MidSmallcap 400 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 MidSmallcap 400 there to download its full series.
- Nifty MidSmallcap 400 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.