11 Jan 2022, 09:00 AM

NSE introduces F&O contracts on Nifty Midcap Select Index

NSE will be introducing Futures and Options contracts on the Nifty Midcap Select Index w.e.f. January 24, 2022. Nifty Midcap Select index aims to track the performance of the focused portfolio of 25 stocks within the Nifty Midcap 150 index.

The stocks in the index are selected from the Nifty Midcap 150 index based on availability for trading in the F&O segment, market cap, and average daily turnover. Stock weights are based on free-float market capitalization.

If you have any questions about the index, post them here on TradingQ&A.

Top constituents in the index

Company’s Name Weight(%)
Tata Power Co. Ltd. 7.52
SRF Ltd. 7.07
Zee Entertainment Enterprises Ltd. 5.95
Voltas Ltd. 5.68
Bharat Electronics Ltd. 5.04
Shriram Transport Finance Co. Ltd. 4.90
Trent Ltd. 4.79
Page Industries Ltd. 4.71
AU Small Finance Bank Ltd. 4.58
Godrej Properties Ltd. 4.39

Sectoral representation

Sector Weight(%)
FINANCIAL SERVICES 26.63
AUTOMOBILE 13.21
INDUSTRIAL MANUFACTURING 8.63
POWER 7.52
CHEMICALS 7.07
MEDIA, ENTERTAINMENT & 5.95
CONSUMER GOODS 5.68
OIL & GAS 5.46
CONSUMER SERVICES 4.79
TEXTILES 4.71
CONSTRUCTION 4.39
SERVICES 3.39
CEMENT & CEMENT PRODUCTS 2.57

Contract specifications

Particulars Futures Options
Symbol MIDCPNIFTY MIDCPNIFTY
Instrument FUTIDX OPTIDX
Tick Size Re 0.05 Re 0.05
Lot Size 75 75
Trading Cycle 7 serial weekly contracts (excluding monthly expiry) and 3 serial monthly contracts
Expiry Day Last Tuesday of the expiry month for the monthly contracts and Tuesday of the expiry week for the weekly expiry contracts, excluding the expiry week of the monthly contracts. If Tuesday is a trading holiday, the expiry day will be on the previous trading day.
Strike Scheme - 30-1-30
Strike Interval - 50
Option Type - Call European (CE) and Put European (PE)
Settlement Cash Settled Cash Settled
Daily Settlement Price Closing price of the futures contract. If illiquid, then theoretical price will be considered -
Final Settlement Price Index closing value on the last trading day Index closing value on the last trading day
Quantity Freeze 5500 5500
Price Band Operating range of 10% of the base price A contract specific price range based on its delta value is computed and updated on a daily basis
Spread Contracts M1-M2; M1-M3; M2-M3 / W1-W2; W1-W3; W1-W4; W2-W3; W2- W4; W2-W5; W3-W4; W3-W5; W3-W6 -

For more details, you can check the circular here and the factsheet here.

Note: The Nifty Midcap Select index is currently not available on Kite. This will be available soon.