The Nifty Top 10 Equal Weight Index aims to track the performance of the top 10 companies selected based on their free-float market capitalization from the Nifty 50 index. Unlike the Nifty 50, which weights companies based on their market capitalization, all stocks in the new index have an equal weight of 10%. This provides a more equal representation of the top companies and potentially reduces the influence of large-cap stocks.

The index has a base date of 2 March 2006, with a base value of 1000. It will be reconstituted semi-annually to reflect changes in the underlying companies' market capitalization. Additionally, rebalancing will occur quarterly to maintain equal weighting of all constituents.

The Nifty Top 10 Equal Weight Index is anticipated to serve as a valuable tool for various market participants. Asset managers can utilize it as a benchmark for performance evaluation, while passive investment vehicles like Exchange Traded Funds (ETFs), index funds, and structured products could track the index to offer investors exposure to the top 10 Indian companies with equal weighting.

As of 31 May 2024, the Nifty Top 10 Equal Weight Index's total return is reported to be 12.47% in the past year, 13.32% over the past five years, and 14.07% since its inception on 2 March 2006.

As of launch, the Financial Services sector holds the highest weight (41.33%) within the index, followed by FMCG (20.29%) and IT (18.97%).