NIFTY Midcap 150 Stocks — 150 Companies

The NIFTY Midcap 150 tracks the 150 companies ranked 101st to 250th by full market capitalisation on the NSE — the complete mid-cap segment of the Indian market. It sits directly between the NIFTY 100 (large caps) and the NIFTY Smallcap 250, and has become the default benchmark for mid-cap investing in India.

Mid-caps occupy an interesting position: these are established businesses that have outgrown the small-cap stage but have not yet reached large-cap scale. That combination has historically produced higher long-run returns than large caps, along with noticeably deeper drawdowns during market corrections.

The index is free-float market-capitalisation weighted and drawn from the NIFTY Midcap 150 eligible universe, which is defined by market-cap rank (101–250) within the NIFTY 500. Compared with the NIFTY 100, no single stock dominates — weights are far more evenly distributed, which is why the index is genuinely diversified across roughly 150 businesses.

NSE Indices rebalances semi-annually. Companies that grow into the top 100 by market cap graduate out of the mid-cap index into the large-cap indices, while shrinking large caps drop in — so the index continuously refreshes itself with the market's upward and downward mobility.

The NIFTY Midcap 150 suits investors with a long horizon — typically seven years or more — and the tolerance to sit through sharper falls than a large-cap index would deliver. In severe corrections mid-caps have historically fallen considerably more than the NIFTY 50, and recovery periods can be long.

Most investors access it through a NIFTY Midcap 150 index fund or a Midcap 150 ETF, often as a satellite allocation alongside a large-cap core rather than as an entire portfolio. A SIP is particularly well suited here, because rupee-cost averaging smooths out the segment's volatility.