The National Stock Exchange (NSE) added a new index to its broad market indices — Nifty Mid Smallcap 400 — to represent the mid and small market capitalisation segments.

• The new index will comprise of 400 companies which are the constituents of Nifty Midcap 150 and Nifty Smallcap 250 indices.
• The Nifty MidSmallcap 400 is a well-representative index consisting of 150 midcap and 250 smallcap stocks across 18 sectors.
• The new index joins the family of restructured broad-based Nifty indices, which will facilitate introduction of investment products.
• IISL will initially publish value of the Nifty MidSmallcap 400 at end of the day’s trade and subsequently disseminate it online along with existing indices.

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Nifty MidSmallcap 400 index would be an appropriate benchmark for mutual fund schemes which predominantly invests in small-cap and mid-cap companies equity stocks.