The Nifty Next 50 TRI consists of the remaining 50 companies after the Nifty 50, within the top-100 companies forming the large-cap universe in India. While Nifty Next 50 TRI tends to outperform the Nifty 50 over longer holding periods, it is important to note that it is also more volatile. Since 2018, the Nifty Next 50 has been underperforming the Nifty 50, which became evident in its five-year rolling returns in 2020. Over the past year, the Nifty Next 50 TRI has failed to meet its expectation of outperforming its senior index, the Nifty 50, or even an average active large-cap peer. The primary reason for this lacklustre performance can be attributed to the Adani-Hindenburg saga. The Adani-Hindenburg saga The passive nature of the Nifty Next 50 index has had an impact on its performance in the past year. Due to a massive price correction, six of the Adani group's stocks, which accounted for approximately 10.8 per cent of the junior Nifty at the end of December 2022, dropped to around 3.7 per cent in subsequent months. As the weightages of the index constituents are more evenly balanced compared to the Nifty, a significant change in the price of any one constituent reflects in the overall index performance. This also contributes to the index's higher volatility. Change in constituents and top & bottom performers In March 2023 Entry Exit ABB India Bandhan Bank Adani Wilmar Biocon Canara Bank Gland Pharma Page Industries
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