Nifty LargeMidcap 250 Index

The Nifty Large Midcap 250 index brings together 250 companies that represent India’s large and mid-sized businesses in one single benchmark. It includes all constituents of the Nifty 100, which covers large cap companies, and the Nifty Midcap 150, which tracks mid cap companies, as defined by NSE Indices.

What makes this index distinctive is its balanced structure. It maintains a 50 percent weight to large caps and 50 percent to mid caps, reset on a quarterly basis. This ensures that both segments have equal representation.

In simple terms, the index is designed to measure the combined performance of established industry leaders and emerging growth companies within India’s equity market.

The Nifty Large Midcap 250 index works by combining two well-defined segments of the market. It includes all companies from the Nifty 100, representing large caps, and the Nifty Midcap 150, representing mid caps. Together, these 250 stocks form the index.

The index follows a free-float market capitalisation weighted methodology, which means companies with a larger publicly available market value have a higher weight within their segment. Importantly, the overall weight is balanced at 50 percent for large caps and 50 percent for mid caps, and this allocation is reset every quarter.

The index is reviewed semi-annually, and any changes are implemented in line with NSE’s eligibility and rebalancing rules.

To understand how the index maintains balance and relevance over time, here is a clear look at its methodology and rebalancing framework:

• The index includes all constituents of the Nifty 100 and the Nifty Midcap 150.
• It follows a free-float market capitalisation weighted methodology within each segment.
• The aggregate weight of large cap stocks and mid cap stocks is maintained at 50 percent each.
• The 50:50 allocation between large and mid caps is reset on a quarterly basis.
• The review of the underlying broad market indices is undertaken semi-annually using six months of data ending January and July.
• Any constituent changes are implemented in line with NSE Indices’ eligibility criteria and reconstitution rules.
• Rebalancing may also occur due to corporate actions such as mergers, demergers, or delistings.

The Nifty Large Midcap 250 index draws its companies from two well-known parent indices, the Nifty 100 and the Nifty Midcap 150. These indices in turn are built from the broader Nifty 500 universe and include companies that meet NSE’s eligibility requirements relating to listing, liquidity, trading frequency, impact cost and minimum free-float standards.

The index maintains an equal 50% allocation to large cap and 50% to mid cap stocks, with this balance restored every quarter. It is reviewed semi-annually in line with NSE’s prescribed methodology.

The tables below highlight the latest sector representation and top constituents by weightage as per the March 30, 2026 factsheet:

Sector representation

Top constituents by weightage

Source: Nifty LargeMidcap 250 Index Factsheet (March 30, 2026) and NSE Indices Methodology Document (March 2026); data is subject to change as per periodic review.

To understand where the Nifty Large Midcap 250 index fits in, it helps to see how it compares with the large cap focused Nifty 100 and the mid cap focused Nifty Midcap 150:

If you are evaluating this index, here are some structural features that define how it is designed and what it represents:

Balanced segment exposure
The index maintains a 50% allocation each to large cap and mid cap companies, with the balance restored quarterly.

Broad market representation
It covers 250 companies ranked 1 to 250 by market capitalisation within the Nifty 500 universe.

Rules-based methodology
Constituents are selected and reviewed as per NSE’s defined eligibility and rebalancing framework.

Free-float weighting
Stocks are weighted based on free-float market capitalisation, reflecting only publicly available shares.

Benchmark suitability
The Total Return Index variant is commonly used for benchmarking large and mid cap mutual funds in line with regulatory norms.

Before considering exposure to any equity index, it is important to understand the key risks that may influence its performance over time:

Market risk
The index is fully exposed to equity market movements, which can fluctuate due to economic conditions, interest rates, and investor sentiment.

Mid cap volatility
Mid cap stocks may experience sharper price swings compared to large caps, especially during uncertain or stressed market phases.

Liquidity risk
Certain mid cap stocks may have relatively lower trading volumes, which can impact price movements during periods of volatility.

Sector concentration risk
At times, higher weights in specific sectors such as financial services may influence overall index performance.

Economic and earnings risk
Changes in corporate earnings, regulatory developments, or macroeconomic trends can affect the companies within the index.

If you are evaluating whether this index aligns with your financial goals, here are some situations where it may be relevant:

• Investors with a long-term investment horizon who can stay invested through market cycles
• Individuals comfortable with equity market fluctuations, including short-term volatility
• Those seeking exposure to both established large cap companies and emerging mid cap businesses
• Investors looking for diversified participation across multiple sectors of the Indian economy
• Individuals who prefer a structured and rules-based index framework
• Those evaluating benchmarks used by large and mid cap mutual funds

You cannot invest directly in the index itself, but you can gain exposure to it through investment products designed to track or benchmark it:

• Index funds: Asset Management Companies may offer index funds that aim to replicate the Nifty LargeMidcap 250 or its Total Return Index (TRI) variant, subject to tracking error.
• ETFs (Exchange-Traded Funds): ETFs tracking the index are listed on stock exchanges and can be bought and sold like shares, reflecting index performance subject to market risks.
• Actively managed large and mid cap funds: Some mutual funds use the Nifty LargeMidcap 250 TRI as a benchmark while following their own investment strategy.
• SIP or lump sum investing: If investing through a mutual fund, you may choose to invest regularly through a Systematic Investment Plan or make a lump sum investment based on your financial plan.

Before investing, it is important to review scheme documents carefully and ensure the investment aligns with your risk appetite and time horizon, as returns are subject to market fluctuations.

Bajaj Finserv Large and Mid Cap Fund uses the Nifty LargeMidcap 250 TRI as its benchmark, meaning the index serves as a reference point to evaluate the fund’s performance and overall portfolio positioning. Since the TRI variant reflects total returns including reinvested dividends, it provides a broader comparison framework.

However, the fund does not simply replicate the index. It is actively managed and may differ from the benchmark in stock selection, sector allocation and weight distribution, while investing predominantly in large and mid cap companies in line with SEBI regulations.

The fund follows a megatrend investing approach that focuses on identifying long-term structural shifts that could influence future growth, rather than reacting to short-term market trends. By looking ahead to emerging themes that may cut across sectors, the strategy seeks to position the portfolio beyond conventional classifications while also reducing behavioural biases such as recency bias.

For you as an investor, this means access to a professionally managed portfolio that combines benchmark awareness with a forward-looking perspective within the framework of the scheme’s investment objective. For detailed scheme information, click here.