Nifty 200

The Nifty 200 is a diversified equity index maintained by NSE Indices Limited comprising the top 200 companies by free-float market capitalisation listed on NSE — covering the large-cap and upper mid-cap segments of the Indian equity market and representing approximately 85% to 88% of total NSE market capitalisation. The index includes all Nifty 100 constituents plus an additional 100 companies that bridge the gap between established large-caps and the broader mid-cap universe — providing significantly more sectoral and company diversity than the Nifty 50 or Nifty 100. The Nifty 200 is calculated using free-float market capitalisation weighting and is reviewed semi-annually by NSE Indices. It serves as the underlying index for several factor-based Smart Beta indices — most notably the Nifty 200 Momentum 30 (selecting the 30 highest-momentum stocks from the Nifty 200 universe, which has historically outperformed the parent index significantly) and the Nifty 200 Alpha 30. For passive investors seeking broad market exposure across large-cap and large-mid-cap companies, Nifty 200 index funds and ETFs provide a more diversified alternative to Nifty 50-based products — capturing the growth potential of companies positioned to graduate from mid-cap to large-cap status. The Nifty 200's broader constituent base makes it particularly useful for factor-based investment strategies where a larger universe improves the quality and diversification of factor portfolio construction.