Nifty 200 Stocks List — All 200 Constituents

What is the Nifty 200?

The Nifty 200 is a broad index of the 200 largest Indian companies listed on the NSE by full market capitalisation — effectively the Nifty 100 (large-cap) plus the top 100 mid-caps. It is free-float market-capitalisation weighted and maintained by NSE Indices Limited. By spanning both the large-cap and the upper mid-cap segments, it offers a fuller picture of the investable market than the Nifty 100 while still excluding the smaller, less liquid tail.

How investors use the Nifty 200

The Nifty 200 is used as a benchmark for strategies that deliberately blend large- and mid-caps — large-and-midcap funds, many flexi-cap funds and factor indices (such as Nifty 200 Momentum and Quality strategies) are built on it. Investors use it to gauge how the broader market beyond the mega-caps is performing, and passive exposure is available through Nifty 200-based index funds and ETFs.

• Read it as large-cap + upper mid-cap coverage in one benchmark.
• Broader than the Nifty 100 but still excludes small-caps.
• It is the base universe for popular momentum / quality factor indices.
• The large-cap heavyweights still dominate the market-cap weighting.
• Good reference for large-and-midcap and flexi-cap fund comparisons.

What to keep in mind

Because these indices are weighted by free-float market capitalisation, the largest few constituents carry a disproportionate share of the index — so the headline level can be driven by a handful of heavyweight names rather than the average stock. Membership is a size-and-liquidity outcome, not a quality rating or an endorsement: a company is included because it is large and heavily traded, not because it is a good investment. The index itself is a number, not something you can buy directly — you gain exposure through an index fund or ETF that tracks it, which carries its own tracking error and expense ratio.

Frequently asked

What is the Nifty 200?

It is the index of the 200 largest NSE-listed companies by market cap — the Nifty 100 large-caps plus the top 100 mid-caps — giving combined large- and mid-cap coverage.

How is the Nifty 200 different from the Nifty 100?

The Nifty 100 is large-cap only (top 100 companies); the Nifty 200 adds the next 100 companies, extending into the mid-cap segment for broader coverage.

What are Nifty 200 Momentum and Quality indices?

They are factor indices that select and weight a subset of Nifty 200 constituents by momentum or quality scores. The Nifty 200 is their starting universe. This is informational only, not investment advice.

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