--- title: "Nifty 200: Methodology" description: "Nifty 200 is maintained by NSE Indices / Asia Index and covers Indian large and mid-cap equity benchmark. How the index selects and weights its constituents." canonical: https://www.getswoopr.com/stocks/indexes/nifty-200/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Nifty 200: What It Measures and How It Is Built ## Direct Answer > The Nifty 200 is a rule-based measurement of Indian large and mid-cap equity benchmark, maintained by NSE Indices / Asia Index. Like every index it owns nothing: it is a number produced by applying a published weighting formula to a selected list of companies, revised on a schedule the provider sets. ## What this index covers The Nifty 200 covers Indian large and mid-cap equity benchmark, within the India market. NSE Indices / Asia Index defines which securities are eligible, how they are selected from that pool, and how much each one contributes to the published number. The name states a target of 200 companies. A target is not a guarantee of the exact count on any given day: corporate actions, dual share classes and pending additions all move the real number around it. ## How constituents are weighted Free float market capitalization weighted with no capping and a fixed number of stocks. The weighting method is the single biggest driver of how an index behaves. Two indexes covering the same market can diverge for years purely because they weight differently, which is why comparing index levels without knowing the method tells you very little. ## What qualifies for inclusion Contains every company in the Nifty 100 and the Nifty Midcap 100, so membership is inherited from those two indices and no separate screens apply. Eligibility rules are the part of an index most readers never look at and the part that decides what it can possibly measure. A screen that excludes a whole sector, or admits only one listing venue, shapes the result far more than any day of trading does. ## When the membership is revised Broad indices are reviewed semi-annually on six months of data ending January and July. Nifty 200 has no replacement limit of its own and is rebuilt from the latest Nifty 100 and Nifty Midcap 100 composition, including announced changes. Reconstitution is the one date an index changes shape by design rather than by price. Funds tracking it have to trade toward the new membership, which is why the schedule matters to anyone holding the tracker rather than only to the provider. ## The rule that surprises people There is no selection step of its own: the index is simply the union of the Nifty 100 and Nifty Midcap 100, so it changes only when one of those two changes. ## References - [NSE Indices / Asia Index: NSE Indices Limited, Methodology Document for Equity Indices (September 2026)](https://www.niftyindices.com/Methodology/Method_NIFTY_Equity_Indices.pdf), as published 2026. Every rule described on this page is taken from this document. ## Current Nifty 200 constituents NSE Indices / Asia Index publishes and licenses the Nifty 200 constituent list. Swoopr does not republish it here. The provider's own page is the authoritative source for current membership and weights. [NSE Indices / Asia Index: official Nifty 200 page](https://www.niftyindices.com/indices/equity/broad-based-indices) ## Related reading - [All stock market indexes](https://www.getswoopr.com/stocks/indexes/): how indexes are built, weighted and revised. - [Emerging Markets indexes](https://www.getswoopr.com/stocks/indexes/emerging-markets/): others covering the same region. - [Index concentration](https://www.getswoopr.com/technical-analysis/market-concentration/index-concentration/): measuring how much of an index sits in its largest holdings. - [Index rebalancing and inclusion effects](https://www.getswoopr.com/stocks/corporate-actions-catalysts/index-rebalancing-and-inclusion-effects/): what happens to a stock when index membership changes. ## Frequently Asked Questions ### Who maintains the Nifty 200? NSE Indices / Asia Index maintains the Nifty 200 and publishes the methodology document that defines its eligibility and weighting rules. ### What does the Nifty 200 measure? It measures Indian large and mid-cap equity benchmark. The index is a calculated number applying a weighting formula to a selected list of companies, and it holds nothing itself. ### Where can I see the current Nifty 200 constituents? NSE Indices / Asia Index publishes the current constituent list. Swoopr does not republish it, because index providers license constituent data and Swoopr holds no such licence. ## About the author The [Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/) writes Swoopr Investment's educational library, covering market structure, analysis methods and the mechanics behind the numbers investors read every day. Our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/) set out how this content is produced, reviewed and fixed when it is wrong.