Nifty Midcap 150

The Nifty Midcap 150 is a stock market index in India comprising 150 companies that rank between 101 and 250 in terms of market capitalization within the Nifty 500 Index. As of 29 September 2023, this index accounts for around 15% of the total market capitalization of publicly traded stocks on the NSE. Over the past six months up till September 2023, the combined trading activity of the NIFTY Midcap 150 companies makes up approximately 21.1% of the total trading volume of all stocks listed on the NSE.

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What is the Nifty Midcap 150?

The Nifty Midcap 150 Index is a benchmark index that tracks the performance of the 150 largest mid-cap companies listed on the National Stock Exchange (NSE) of India. This index falls within the broader NIFTY 500 Index of NSE. The Nifty Midcap 150 Index was launched on 01 April 2005 with a base value of 1,000.

Mid-cap companies are those with market capitalizations that fall between those of large-cap and small-cap companies. 

The Nifty Midcap 150 index represents a wide range of sectors, including financial services, technology, consumer goods, and industrials.

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Objective of NIFTY Midcap 150 Index

The Nifty Midcap 150 Index aims to fulfil the following purposes: 

  • Benchmark the Nifty Midcap 150 Index fund portfolios

  • Facilitate the creation of index funds, ETFs, futures contracts, and structured products

  • Provide investors with a transparent and unbiased measure of the performance of the mid-cap of mid-cap Indian Companies

Highlights of Nifty Midcap 150

Particulars Details
Index Name NIFTY Midcap 150 Index
Index Variant Nifty Midcap 150 Total Returns Index
Benchmarking Method Free Float Market Capitalization
No. of Constituent Companies 150
Rank of Companies on Index 101 – 250 on Nifty 500 index
Launched On 01 April 2016
Base Date 01 April 2005
Frequency of Calculation Real-time calculation
Index Rebalance Period Half - Yearly

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Performance of Nifty Midcap 150 vs Other Indices

Following is the performance of total returns of Nifty MidCap 150 over the years with other indices: 

As of 31st July 2023 3 Years* 5 Years* 10 Years*
Nifty MidCap 150 31.19% 21.29% 21.15%
NSE MidCap 100 31.78% 19.92% 19.22%
Nifty Small Cap 100 31.78% 19.92% 19.22%
Nifty 50 18.43% 14.91% 13.39%

*Total Returns as of 26 October 2023
# Source: NSE Indices

The Nifty Midcap 150 is poised to outperform established benchmarks, promising superior returns that will significantly contribute to wealth creation.

Performance of Nifty Midcap 150 During Bull Market Years (in % p.a.)

Index CY 2007 CY 2009 CY 2014 CY 2017 CY 2021 CY 2023
Nifty MidCap 150 76.1 110.6 60.3 54.3 46.8 33.4
Nifty 50 54.8 75.8 31.4 28.6 24.1 8.50

Source: NSE, Morningstar Direct

  • During strong market periods, the Nifty Mid-cap 150 index has significantly outperformed the Nifty 50 index (comprising large-cap businesses).

  • In the year-to-date for 2023, mid-cap companies have considerably outperformed their large-cap counterparts.

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Performance of Nifty Midcap 150 During Bear Market Years (in % p.a.)

Index CY 2008 CY 2011 CY 2018 CY 2019 1 Feb 2020 to 23 Feb 2020 
COVID Market Correction
Nifty MidCap 150 -65.5 -32.1 -13.3 -0.3 -37.5
Nifty 50 -51.8 -24.6 3.2 12.0 -36.40

Source: NSE, Morningstar Direct

  • In bear markets, the Nifty Mid-cap 150 index has lagged behind the Nifty 50 index (large-cap).

  • Mid-cap stocks tend to face greater downside risk in market downturns due to their higher-risk nature.

Which are the Constituent Stocks of the Nifty Midcap 150 by Weightage?

The top 10 stocks as of 26 October 2023, for the Nifty MidCap 150 Index are as follows:

Name of Company Weight (%)
Max Healthcare Institute Ltd.  1.85%
Power Finance Corporation Ltd.  1.61%
Indian Hotels Co. Ltd.  1.60%
REC Ltd.  1.57%
Federal Bank Ltd.  1.53%
AU Small Finance Bank Ltd.  1.51%
Tube Investments of India Ltd.  1.38%
Coforge Ltd.  1.37%
Yes Bank Ltd.  1.33%
IDFC First Bank Ltd.  1.33%
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Sectoral Representation of Nifty Midcap 150 Index by Weightage

Here is the sectoral representation of the Nifty Midcap 150 Index as of 26 October 2023, by weightage:

Sector Weightage (%)
Financial Services 21.74%
Capital Goods  14.33%
Healthcare 10.78%
Automobile and Auto Components 7.52%
Information Technology 6.45%
Chemicals 5.95%
Consumer Durables  4.79%
Consumer Services  4.46%
Realty  3.34%
Power 3.26%
Oil, Gas & Consumable Fuels 3.01%
Construction Materials 2.54%
Metals & Mining 2.42%
Services 2.35%
Telecommunication 1.94%
Textiles 1.52%
Fast Moving Consumer Goods 1.33%
Media, Entertainment & Publication  1.30%
Diversified 0.56%
Construction 0.42%
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The maximum weightage of about 21.74% of the index is distributed towards the Financial Services sector, as of October 26, 2023. The minimum exposure of the Nifty Midcap 150 Index is towards Construction companies that accounted for only around 0.42% of the index.

What Are the Returns of Nifty Midcap 150 Index Over the Years?

Below are the returns of Nifty Midcap 150 index as of October 26, 2023:

Investment Period Price Returns (%) Total Returns (%)
1 Years 22.07% 22.78%
3 Years 30.25% 31.33%
5 Years 20.00% 21.03%
10 Years 19.84% 21.02%
Since Inception 15.82% 17.25%

[Source: nseindia.com]

Is the Nifty Midcap Index Fund a Smart Investment?

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The Nifty Midcap Index Fund can be a smart investment for investors who are looking for growth, diversification, and exposure to high-growth companies. 

  • Mid-cap companies are typically growing faster than large-cap companies. This is because they are newer and have more room to expand. In the last 10 years, the Nifty Midcap 150 index has delivered average total returns of 21.15%, compared to 13.39% for the Nifty 50 index.

  • The Nifty Midcap 150 index is a diversified index, which means that it is composed of a wide range of companies from different sectors. This helps to reduce risk, as not all of the companies in the index will be affected by the same economic factors.

  • Mid-cap companies are more focused on the Indian economy than large-cap companies. This means that they are less susceptible to the volatility of the global economy.

  • The power of compounding can help investors to grow their wealth over the long term. By investing in a Nifty Midcap Index Fund, investors can take advantage of the power of compounding.

This index can be particularly appealing for investors seeking to capitalize on India's economic growth story while minimizing exposure to global economic fluctuations. 

However, as with any investment, it's essential to conduct thorough research and consider your financial goals and risk tolerance before making any investments.

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Nifty Midcap 150 Index Methodology

The Nifty Midcap 150 Index Methodology outlines how the index is constructed and maintained. It follows a transparent and rules-based approach to represent the performance of mid-sized companies listed on the NSE. Here is an overview of the methodology:

  • Criteria:

    • Companies must be a part of the Nifty 500 to be considered for the Nifty Midcap 150 index.

    • Companies will be included if their rank based on full market capitalization is within the top 225.

    • The company's market capitalization should be at least 1.50 times that of the last company in the Nifty Midcap 150 index.

    • Newly listed securities are evaluated based on three months of data rather than the usual six-month period.

  • Exclusion Criteria: The company will be excluded if its market capitalization rank falls below 275 or if it is excluded from the Nifty 500 index.

  • Index Re-Balancing:

    • The index is re-balanced twice a year.

    • Re-balancing is based on data from the six months ending January 31 and July 31 of each year.

    • A four-week notice is provided to the market before any changes take effect.

  • Index Governance:

    • NSE Indices Limited manages all NSE indices using a professional team.

    • The governance structure consists of three tiers:

      • Board of Directors: Oversees NSE Indices Limited.

      • Index Advisory Committee (Equity): Provides advisory insights.

      • Index Maintenance Sub-Committee: Manages index maintenance processes.

    Many believe that investing in large-cap funds is better than mid-cap funds, but let's explore the truth behind this idea.

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Why are Midcap Funds Better than Large Cap Funds?

Mid-cap funds offer advantages over large-cap funds for several reasons:

  • Diversified Sector Exposure: Mid-cap funds typically provide more diversified sector exposure compared to large-cap funds. This diversification can reduce risk by minimizing the impact of poor performance in any single sector.

  • Domestic Growth Focus: Mid-cap funds often have greater exposure to sectors that are oriented towards domestic growth. This positions investors to benefit from India's expanding economy without being overly reliant on global market trends.

  • Consumption and Investment Cycle: Investing in mid-cap funds can be a better way to tap into India's consumption and investment cycles. These funds tend to include companies that are well-positioned to benefit from increased consumer spending and government-led infrastructure initiatives.

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Midcaps have significantly outperformed large caps over the last 15 years

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How to Take Advantage of the Nifty Midcap 150 Index?

You can invest wisely with the Nifty Midcap 150 Index to earn big profits. The index has yielded a 21.15% return over the past ten years, demonstrating its promise. Explore easy investment options through Bajaj Allianz Unit Linked Insurance Plans (ULIP) like Smart Capital Assure Goal, Invest Protect Goal, Smart Wealth Goal II, and Goal Assure II. 

Invest in the Bajaj Allianz Midcap Index Fund available under these best ULIP plans to grab this opportunity to build your wealth with a reliable partner.

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How to Buy a Midcap Fund from Policybazaar?

Follow the steps mentioned below to purchase the best NIFTY Midcap 150 Index Fund from Policybazaar: 

Step 1: Start by visiting the Policybazaar website or app. Log in to the website or create an account if you don't have one.

Step 2: Go to the investments section within the platform.

Step 3: Enter essential information such as your city, age, and name.

Step 4: Compare various plans using criteria like their performance, ratings, and other relevant information.

Step 5: Select from the Bajaj Allianz Investment Plans from the following investment options to take advantage of the Nifty Midcap Fund Index Fund.

  • Bajaj Allianz Capital Guarantee Plan

  • Invest Protect Goal

  • Smart Wealth Goal II

  • Goal Assure II

Step 6: Select "Invest Now" and proceed by following the prompts displayed on the screen to finalize your purchase.

Step 7: Provide the required KYC details and complete the payment procedure.

Step 8: Upon successful payment, you will receive confirmation of your purchase.

FAQs on Nifty Midcap 150 Index

  • What is the Nifty Midcap 150 Index?

    The Nifty Midcap 150 Index is a stock market index of the National Stock Exchange of India. It benchmarks the performance of the top 101-250 companies that fall within the mid-cap category based on the NIFTY 500 index based on their market capitalization. This index serves as a benchmark to track the performance of mid-sized companies in the Indian stock market. 
  • When was Nifty Midcap 150 started?

    Launch Date 1 April 2016
    Base Date 1 April 2005
    Base Value 1,000
    Number of Constituents/Companies 150
    Methodology Free Float Market Capitalization
  • Is it good to invest in Nifty Midcap 150?

    If you are a risk-tolerant investor and you are looking for the potential for higher returns, then investing in the Nifty Midcap 150 Index may be a good option for you. However, it is important to be aware of the risks involved before investing. Whether or not it is good to invest in the Nifty Midcap 150 depends on your individual circumstances and investment goals. 
  • Which is the best midcap 150 index fund?

    Some of the most popular and highly rated midcap 150 index funds in India in 2023 include
    • Bajaj Allianz Midcap Index Fund

    • Motilal Oswal Nifty Midcap 150 Index Fund

    • ICICI Prudential Nifty Midcap 150 Index Fund

    • Nippon India Nifty Midcap 150 Index Fund

    • HDFC Nifty Midcap 150 Index Fund

  • What is the market capital of Midcap companies?

    The market capitalization of the Nifty Midcap 150 Index is around ₹500 Cr to ₹50,000 Cr. However, there is no fixed definition of market capitalization for mid-cap companies.
  • Which investment plan includes the midcap index fund?

    Bajaj Allianz investment plans like Invest Protect Goal, Smart Capital Assure Goal, Goal Assure II, and Smart Wealth Goal II. With a remarkable 21% return over the past 10 years (as of July 27th, 2023), Bajaj Allianz Investment Plans has the potential to significantly boost the growth of your portfolio.
  • How is the Nifty Midcap 150 Index different from other indices?

    The Nifty Midcap 150 Index is a vital tool to measure the performance of the mid-cap segment, offering insights to investors and analysts about trends, strengths, and weaknesses. It distinguishes itself from larger and smaller counterparts, making it a valuable tool to assess mid-cap company performance in the Indian stock market.
  • What is the return of the Nifty Midcap 150 Index?

    The Nifty Midcap 150 Index has outperformed the Nifty 50 Index over the long term. In the past 5 years, the Nifty Midcap 150 Index has returned an average of 21.29% per year, while the Nifty 50 Index has returned an average of 14.91% per year.
  • What are the popular midcap indices in India in 2023?

    Popular Midcap indices in India in 2023 are as follows: 
    • Nifty MidCap 150

    • Nifty 50

    • Nifty MidCap 100

    • Nifty Small Cap 250

  • What is the difference between an index fund and an actively managed fund?

    Parameters Index Funds Actively Managed Funds
    Definition Index funds are passively managed investment vehicles that aim to replicate the performance of a specific market index, such as the Nifty 50 or Sensex Actively managed funds are investment funds where portfolio managers make active decisions about which securities to buy and sell in order to outperform the market.
    Performance Mimic Benchmark May or may not beat benchmark
    Risk Profile No Added Risk Might have risk depending on the performance
    Underperforming in the market No Yes
    Bias investing No Yes
    Charges Low charges Very high charges as a fund manager handles the funds
  • How can I invest in the Nifty Midcap 150 Index?

    You can invest in the Nifty Midcap 150 Index through a variety of investment products, such as index funds, like the one offered by Bajaj Allianz Investment Plans, exchange-traded funds (ETFs), and structured products.
  • What are the benefits of investing during an NFO (New Fund Offer)? 

    Investing during an NFO can offer the following advantages:
    • Lower Price: During an NFO, you can buy the fund's units at a fixed price, usually Rs 10 each. This could be great because if the price goes up later, you'll make more money.

    • Smaller Fund Size/AUM (Assets Under Management): Since the fund is new, it doesn't have a lot of money to manage yet. This can make it easier to handle and might help you make more money in the first few years.

    • Start Early: Investing in an NFO means you're there from the beginning. This could be a good thing because as the fund grows, you could get better returns.

  • Who should invest in the Nifty Midcap 150 Index?

    The Nifty Midcap 150 Index is a good investment for investors who are looking for growth potential. The index is also a good option for investors who want to diversify their portfolio beyond the Nifty 50 Index.

*Past 5 Year annualised returns as on 01-06-2024
*All savings plans are provided by the insurer as per the IRDAI approved insurance plan. Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.

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