Markets
Nifty Smallcap 50
Nifty Smallcap 50 is an NSE broad market index of 50 stocks. Since 2005 it has compounded 12.3% a year with dividends reinvested; over the past year it rose 12.9%. Its deepest fall was 79%, from Jan 2008 to Mar 2009, and it took 9.2 years from that high to a new one.
Written for anyone who holds, tracks or is thinking of buying Nifty Smallcap 50. Data to 14 Oct 2026.
- Trend
- Uptrend since Apr 2026
- Momentum
- 9th of 133 markets, by rank
- Below its high
- 3.7% total return
- 1 year
- +12.9% total return
- 5 years
- 12.0% a year
- 10 years
- 11.8% a year
- Since 2005
- 12.3% a year
- Volatility
- 18.4% past year; usual 22%
NSE launched Nifty Smallcap 50 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 1.2 percentage points a year. Returns over more than a year are a year, compounded.
Nifty Smallcap 50: 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 | −2.7% | −2.7% | 0.0 pts | |
| 3 months | +1.8% | +1.5% | +0.3 pts | |
| 6 months | +19.0% | +18.5% | +0.5 pts | |
| This year | +13.1% | +12.5% | +0.6 pts | |
| 1 year | +12.9% | +12.2% | +0.7 pts | |
| 3 years, a year | +18.4% | +17.6% | +0.8 pts | |
| 5 years, a year | +12.0% | +11.1% | +0.9 pts | |
| 10 years, a year | +11.8% | +10.8% | +0.9 pts | |
| 15 years, a year | +12.2% | +11.1% | +1.1 pts | |
| 20 years, a year | +10.3% | +9.2% | +1.1 pts | |
| Since Apr 2005, a year | +12.3% | +11.1% | +1.2 pts |
Year by year
13 of the 20 full calendar years since 2006 ended higher. 19 of them had a fall of 10% or more from a peak somewhere inside the year, so even good years are rarely smooth.
Nifty Smallcap 50: 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 | +13.1% | +12.5% | +0.6 pts | −15.6% | |
| 2025 | −3.1% | −3.7% | +0.6 pts | −21.7% | |
| 2024 | +26.4% | +25.3% | +1.1 pts | −13.8% | |
| 2023 | +65.5% | +64.3% | +1.2 pts | −9.1% | |
| 2022 | −17.6% | −18.6% | +0.9 pts | −34.7% | |
| 2021 | +52.0% | +50.8% | +1.2 pts | −14.2% | |
| 2020 | +27.0% | +25.7% | +1.4 pts | −47.6% | |
| 2019 | −10.4% | −11.3% | +0.9 pts | −23.7% | |
| 2018 | −32.3% | −33.0% | +0.7 pts | −43.9% | |
| 2017 | +55.3% | +54.4% | +1.0 pts | −10.2% | |
| 2016 | +0.2% | −0.8% | +1.0 pts | −26.0% | |
| 2015 | +4.8% | +3.8% | +1.0 pts | −19.0% | |
| 2014 | +65.3% | +63.0% | +2.3 pts | −10.1% | |
| 2013 | −9.0% | −10.6% | +1.6 pts | −38.6% | |
| 2012 | +36.2% | +34.3% | +1.9 pts | −17.3% | |
| 2011 | −39.5% | −40.1% | +0.6 pts | −40.2% | |
| 2010 | +8.7% | +7.8% | +1.0 pts | −20.7% | |
| 2009 | +119.4% | +117.3% | +2.1 pts | −27.0% | |
| 2008 | −72.2% | −72.5% | +0.4 pts | −75.5% | |
| 2007 | +122.1% | +120.0% | +2.1 pts | −17.7% | |
| 2006 | +24.4% | +22.9% | +1.5 pts | −42.3% |
The falls
Every fall of 10% or more from a high, deepest first. The worst, 79%, took 14 months to reach bottom and 8.0 years more to climb back. Today it is 3.7% below its high.
Nifty Smallcap 50: 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 |
|---|---|---|---|---|---|---|
| −78.8% | 4 Jan 2008 | 9 Mar 2009 | 14 months | 8.0 years | 16 Mar 2017 | 9.2 years |
| −66.7% | 15 Jan 2018 | 24 Mar 2020 | 2.2 years | 14 months | 7 Jun 2021 | 3.4 years |
| −42.3% | 10 May 2006 | 14 Jun 2006 | 35 days | 7 months | 12 Jan 2007 | 8 months |
| −36.7% | 18 Oct 2021 | 20 Jun 2022 | 8 months | 14 months | 1 Sept 2023 | 22 months |
| −25.0% | 11 Dec 2024 | 28 Feb 2025 | 3 months | 16 months | 2 Jul 2026 | 19 months |
| −19.9% | 20 Sept 2005 | 28 Oct 2005 | 38 days | 2 months | 3 Jan 2006 | 3 months |
| −17.7% | 8 Feb 2007 | 7 Mar 2007 | 27 days | 49 days | 25 Apr 2007 | 3 months |
| −13.8% | 7 Feb 2024 | 13 Mar 2024 | 35 days | 41 days | 23 Apr 2024 | 3 months |
| −12.0% | 16 Jul 2007 | 23 Aug 2007 | 38 days | 14 days | 6 Sept 2007 | 52 days |
| −10.4% | 23 Sept 2024 | 13 Nov 2024 | 51 days | 23 days | 6 Dec 2024 | 2 months |
What holding it was like
From every day in its history, what holding Nifty Smallcap 50 for a fixed span would have returned a year. Over five years the middle outcome was 9.9% a year; the worst −11.4% and the best 38.5%; 17% 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 | −73.3% | −24.7% | +8.2% | +80.6% | +181.6% | 40% | 21.5 |
| 3 years | −24.7% | −9.8% | +13.5% | +27.2% | +44.6% | 27% | 7.2 |
| 5 years | −11.4% | −4.0% | +9.9% | +22.3% | +38.5% | 17% | 4.3 |
| 7 years | −3.2% | +2.3% | +8.7% | +14.9% | +22.9% | 3% | 3.1 |
| 10 years | −2.6% | +3.4% | +9.8% | +13.9% | +17.0% | 2% | 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 2006 (+11.9% a year).
| Started in January | Months | Put in | Worth now | Multiple | Return a year (XIRR) | More |
|---|---|---|---|---|---|---|
| 2025 | 22 | ₹2,20,000 | ₹2,50,466 | 1.14× | +15.0% | |
| 2024 | 34 | ₹3,40,000 | ₹3,94,770 | 1.16× | +10.9% | |
| 2023 | 46 | ₹4,60,000 | ₹6,36,609 | 1.38× | +17.6% | |
| 2022 | 58 | ₹5,80,000 | ₹9,03,211 | 1.56× | +18.8% | |
| 2021 | 70 | ₹7,00,000 | ₹11,69,566 | 1.67× | +17.8% | |
| 2020 | 82 | ₹8,20,000 | ₹16,72,694 | 2.04× | +20.8% | |
| 2019 | 94 | ₹9,40,000 | ₹20,98,850 | 2.23× | +20.2% | |
| 2018 | 106 | ₹10,60,000 | ₹24,30,865 | 2.29× | +18.3% | |
| 2017 | 118 | ₹11,80,000 | ₹27,48,090 | 2.33× | +16.6% | |
| 2016 | 130 | ₹13,00,000 | ₹31,71,262 | 2.44× | +15.7% | |
| 2015 | 142 | ₹14,20,000 | ₹35,91,657 | 2.53× | +14.9% | |
| 2014 | 154 | ₹15,40,000 | ₹41,46,639 | 2.69× | +14.5% | |
| 2013 | 166 | ₹16,60,000 | ₹49,53,867 | 2.98× | +14.7% | |
| 2012 | 178 | ₹17,80,000 | ₹56,86,034 | 3.19× | +14.5% | |
| 2011 | 190 | ₹19,00,000 | ₹63,25,577 | 3.33× | +13.9% | |
| 2010 | 202 | ₹20,20,000 | ₹68,83,592 | 3.41× | +13.3% | |
| 2009 | 214 | ₹21,40,000 | ₹78,35,733 | 3.66× | +13.2% | |
| 2008 | 226 | ₹22,60,000 | ₹85,28,947 | 3.77× | +12.7% | |
| 2007 | 238 | ₹23,80,000 | ₹91,56,749 | 3.85× | +12.2% | |
| 2006 | 250 | ₹25,00,000 | ₹1,00,73,622 | 4.03× | +11.9% |
How bumpy
Volatility is how widely daily returns swing, scaled to a year. Over the past year it was 18.4%, against a usual 22.1% for this index. 59% of months ended higher, and 299 days moved 3% or more either way.
Nifty Smallcap 50: 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 | −13.7% |
| 21 Jan 2008 | −12.9% |
| 24 Aug 2015 | −11.1% |
| 8 Jun 2006 | −9.8% |
| 24 Oct 2008 | −9.8% |
| Best days | Return |
|---|---|
| 18 May 2009 | +11.3% |
| 20 May 2009 | +10.4% |
| 23 Jan 2008 | +9.2% |
| 25 Mar 2008 | +8.2% |
| 28 Oct 2008 | +8.2% |
| Worst months | Return |
|---|---|
| Oct 2008 | −35.4% |
| Mar 2020 | −35.2% |
| Jan 2008 | −24.5% |
| Sept 2018 | −23.1% |
| Sept 2008 | −19.3% |
| Best months | Return |
|---|---|
| May 2009 | +51.7% |
| May 2014 | +21.7% |
| Apr 2009 | +20.8% |
| Aug 2005 | +19.4% |
| Apr 2026 | +17.7% |
What it holds
50 stocks as NSE lists them today. The ten largest make up 33.0% 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 11 items. Weight, %: highest Financial Services at 29.4%, lowest Construction at 1.0%.
NSE's factsheet, 30 Sept 2026. NSE publishes the weights of the ten largest members only.
| Largest holdings | Weight | |
|---|---|---|
| 1 | Sona BLW Precision Forgings Ltd. | 4.38% |
| 2 | Welspun Corp Ltd. | 4.18% |
| 3 | Karur Vysya Bank Ltd. | 3.60% |
| 4 | Navin Fluorine International Ltd. | 3.56% |
| 5 | Ather Energy Ltd. | 3.18% |
| 6 | RBL Bank Ltd. | 2.93% |
| 7 | Delhivery Ltd. | 2.89% |
| 8 | Redington Ltd. | 2.84% |
| 9 | HFCL Ltd. | 2.73% |
| 10 | Gland Pharma Ltd. | 2.71% |
NSE's constituent list for Nifty Smallcap 50, as seen on 14 Oct 2026. NSE changes members at each rebalance.
| Member | Industry | NSE symbol | More |
|---|---|---|---|
| Acutaas Chemicals Ltd. | Healthcare | ACUTAAS | |
| Aegis Logistics Ltd. | Oil Gas & Consumable Fuels | AEGISLOG | |
| Affle 3i Ltd. | Information Technology | AFFLE | |
| 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 | |
| Angel One Ltd. | Financial Services | ANGELONE | |
| Apollo Tyres Ltd. | Automobile and Auto Components | APOLLOTYRE | |
| Ather Energy Ltd. | Automobile and Auto Components | ATHERENERG | |
| Bandhan Bank Ltd. | Financial Services | BANDHANBNK | |
| Central Depository Services (India) Ltd. | Financial Services | CDSL | |
| City Union Bank Ltd. | Financial Services | CUB | |
| Computer Age Management Services Ltd. | Financial Services | CAMS | |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Durables | CROMPTON | |
| Delhivery Ltd. | Services | DELHIVERY | |
| Dr. Lal Path Labs Ltd. | Healthcare | LALPATHLAB | |
| Gland Pharma Ltd. | Healthcare | GLAND | |
| Great Eastern Shipping Co. Ltd. | Services | GESHIP | |
| HFCL Ltd. | Telecommunication | HFCL | |
| Himadri Speciality Chemical Ltd. | Chemicals | HSCL | |
| IIFL Finance Ltd. | Financial Services | IIFL | |
| Indraprastha Gas Ltd. | Oil Gas & Consumable Fuels | IGL | |
| Inox Wind Ltd. | Capital Goods | INOXWIND | |
| KPIT Technologies Ltd. | Information Technology | KPITTECH | |
| Karur Vysya Bank Ltd. | Financial Services | KARURVYSYA | |
| Kaynes Technology India Ltd. | Capital Goods | KAYNES | |
| Kfin Technologies Ltd. | Financial Services | KFINTECH | |
| Kirloskar Oil Eng Ltd. | Capital Goods | KIRLOSENG | |
| MTAR Technologies Ltd. | Capital Goods | MTARTECH | |
| Manappuram Finance Ltd. | Financial Services | MANAPPURAM | |
| NATCO Pharma Ltd. | Healthcare | NATCOPHARM | |
| NBCC (India) Ltd. | Construction | NBCC | |
| Navin Fluorine International Ltd. | Chemicals | NAVINFLUOR | |
| Neuland Laboratories Ltd. | Healthcare | NEULANDLAB | |
| Onesource Specialty Pharma Ltd. | Healthcare | ONESOURCE | |
| PG Electroplast Ltd. | Consumer Durables | PGEL | |
| PNB Housing Finance Ltd. | Financial Services | PNBHOUSING | |
| Piramal Pharma Ltd. | Healthcare | PPLPHARMA | |
| Poonawalla Fincorp Ltd. | Financial Services | POONAWALLA | |
| RBL Bank Ltd. | Financial Services | RBLBANK | |
| Redington Ltd. | Services | REDINGTON | |
| Sai Life Sciences Ltd. | Healthcare | SAILIFE | |
| Sona BLW Precision Forgings Ltd. | Automobile and Auto Components | SONACOMS | |
| Syngene International Ltd. | Healthcare | SYNGENE | |
| TD Power Systems Ltd. | Capital Goods | TDPOWERSYS | |
| Tata Chemicals Ltd. | Chemicals | TATACHEM | |
| Tata Elxsi Ltd. | Information Technology | TATAELXSI | |
| Tata Technologies Ltd. | Information Technology | TATATECH | |
| Welspun Corp Ltd. | Capital Goods | WELCORP | |
| Wockhardt Ltd. | Healthcare | WOCKPHARMA |
Against the Nifty 50
Smaller companies against the largest: the question for anyone choosing between Nifty Smallcap 50 and the Nifty 50. Over 21 years it trailed the Nifty 50 by 1.1 percentage points a year, and was ahead in 10 of 20 calendar years.
Relative strength
Weekly: Nifty Smallcap 50's total return divided by the Nifty 50's, 100 at the start of the range shown.
How to read it. Rising: Nifty Smallcap 50 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 Smallcap 50'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 | −1.1 pts | 119 | 134 | 1.28 | 0.84 | 17.8% |
| Last 5 years, from Oct 2021 | +7.0 pts | 148 | 124 | 1.27 | 0.78 | 14.1% |
Models and ETFs
No Tipsheet model uses Nifty Smallcap 50. No ETF listed on NSE tracks it. Its trend and momentum have a page of their own.
Data and sources
Nifty Smallcap 50 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 Smallcap 50 there to download its full series.
- Nifty Smallcap 50 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.