Nifty India FPI 150 Derivatives: Contract Details, Expiry Dates And Index Composition

The National Stock Exchange (NSE) has launched futures and options contracts on the Nifty India FPI 150 Index, adding a new index derivative to its equity derivatives portfolio. The cash-settled contracts come with a lot size of 1,100, a tick size of ₹0.05 and three serial monthly expiry cycles. The new contracts were introduced on 12 August 2026.

Designed around foreign investor accessibility, the Nifty India FPI 150 Index tracks 150 stocks selected from the Nifty 500 based on six-month average foreign-investible free-float market capitalisation. The index aims to capture liquid companies where foreign investors have relatively greater room to invest.

What Is The Nifty India FPI 150 Index?

Launched in August 2025, the Nifty India FPI 150 Index has a base date of 3 October 2022 and a base value of 1,000. Unlike a conventional index that primarily focuses on company size or broad market representation, this index also considers how much equity is actually available for foreign investors.

The index does not track foreign portfolio investor (FPI) buying or selling activity. Instead, it looks at the portion of a company's free-float shares that foreign investors can purchase within regulatory ownership limits.

Stocks with foreign investment room of less than 10% are excluded. Companies appearing on the FPI Red Flag or Breach List maintained through depositories are also kept out. Liquidity is another consideration, with stocks generally required to rank among the top 350 on measures including average daily turnover and market capitalisation.

The index is reconstituted twice a year, in March and September, using data from the preceding six months.

How Is The Index Positioned?

Financial services is the largest sector in the index, accounting for 25.59% as of 31 July 2026. Oil, gas and consumable fuels had a 9.84% weight, followed by information technology at 8.43%, healthcare at 7.73%, and automobiles and auto components at 7.70%.

Reliance Industries was the largest constituent with a 6.66% weight. HDFC Bank, Bharti Airtel, ICICI Bank and Infosys followed with weights of 4.83%, 4.52%, 4.32%, and 2.99%, respectively.

NSE said the new Nifty India FPI 150 futures and options will provide another tool for hedging and portfolio diversification. The contracts will expire on the last Tuesday of the relevant month. If that day is a trading holiday, the previous trading day will be used.

The initial contracts cover August, September, and October 2026, with expiries on 25 August, 29 September, and 27 October, respectively.

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