The NIFTY 500 represents the top 500 companies based on full market capitalisation and average daily turnover from the eligible universe.
It represents about 94% of the free float market capitalization of the stocks listed on NSE as on March 31, 2016.
The total traded value for the last six months ending March 2016, of all Index constituents is approximately 87% of the traded value of all stocks on NSE.