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The NIFTY Midcap 100 is a stock market index that represents the performance of the top 100 mid-sized companies listed on the National Stock Exchange (NSE) of India. It consists of 100 stocks, with half sourced from the NIFTY Midcap 50 and the rest selected based on daily turnover from the NIFTY Midcap 150. These stocks represent various sectors like Financial Services, Capital goods, and Healthcare.
Launched in 2005, it is reevaluated semi-annually to stay aligned with market changes. The Nifty Midcap 100 index provides investors with a benchmark to track the performance of mid-cap stocks, which are often considered to have growth potential and may offer higher returns compared to larger, more established companies.
The calculation of the Nifty Midcap 100 index is based on the free-float market capitalisation-weighted method. This means that the index value is determined by considering the total market value of all constituent stocks adjusted for their free-float market capitalization. The weight of each stock is proportional to its free-float market capitalisation, ensuring that larger companies have a greater impact on the index value.
The Nifty Midcap 100 stock list is evaluated twice each year. The criteria requires stocks to be listed on the NSE, with all companies listed in the Nifty Midcap 50 getting automatically included. Securities from the NIFTY Midcap 150 are considered if they rank among the top 70 constituents based on average daily turnover. Securities ranking below 130 in the NIFTY Midcap 150 are excluded from consideration.