The only halal stocks list for India that is published, dated and screened by a named Shariah body is the constituent set of the Nifty50 Shariah index, which NSE Indices Limited maintains with Taqwaa Advisory and Shariah Investment Solutions (TASIS) as screening partner. The 30 September 2026 factsheet shows 18 constituents, led by Infosys (14.86%), Eternal (9.81%), Tata Consultancy Services (8.86%), Sun Pharmaceutical Industries (8.14%) and Hindustan Unilever (7.06%), with information technology at 33.30% of the index. Any 'top 100 halal stocks' list you find online is somebody's screen on an unstated date. This page gives the official list, explains the tilt it carries, shows why an app's verdict can differ, and tells you how to buy it through the halal stocks hub in one trade or name by name.
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Where the list comes from and how often it changes
NSE Indices Limited calculates three Shariah indices: Nifty50 Shariah, Nifty500 Shariah and Nifty Shariah 25. Nifty50 Shariah is the Nifty 50 with the non-compliant names removed, so it has no fixed count; the factsheet dated 30 September 2026 shows 18. Its base date is 29 December 2006 with a base value of 1,000, it launched on 19 February 2008, and the methodology document states that TASIS screens the constituents monthly. Weights are free-float market capitalisation with a cap: no single stock above 33% and the top three together no more than 62% at rebalancing.
That monthly screening is why the list has a date on it. A company that borrows past the threshold or whose interest income rises can drop out at the next review, and a company that cleans up can come in. India's Shariah indices explained covers all three indices and their construction; this page is only about what is in the flagship one right now.
The Nifty50 Shariah list as published on 30 September 2026
The factsheet publishes the ten largest weights. The full set of 18 names is on the index page at niftyindices.com; the constituent download was unavailable when we checked, so we have cross-checked against the portfolio of Nippon India ETF Nifty 50 Shariah BeES, which replicates the index and disclosed its complete holdings as on 31 August 2026 in the September product note. The table gives the factsheet's top ten with their weights.
| Rank | Company | Weight (%) | Sector (per factsheet classification) |
|---|---|---|---|
| 1 | Infosys | 14.86 | Information technology |
| 2 | Eternal | 9.81 | Consumer services |
| 3 | Tata Consultancy Services | 8.86 | Information technology |
| 4 | Sun Pharmaceutical Industries | 8.14 | Healthcare |
| 5 | Hindustan Unilever | 7.06 | Fast moving consumer goods |
| 6 | Hindalco Industries | 5.77 | Metals and mining |
| 7 | UltraTech Cement | 5.49 | Construction materials |
| 8 | HCL Technologies | 5.49 | Information technology |
Asian Paints (4.60%) and Tech Mahindra (4.10%) complete the factsheet's top ten. The ETF's 31 August 2026 portfolio names the rest of the set: Nestle India, Trent, Oil and Natural Gas Corporation, Cipla, Max Healthcare Institute, Dr. Reddy's Laboratories, Tata Consumer Products and Tata Motors Passenger Vehicles. One discrepancy is worth stating plainly. Eternal appears at 9.81% in the 30 September index factsheet but was not in the ETF's 31 August portfolio of 17 stocks, which implies it entered the index at a monthly review in between. Treat the factsheet as current and the ETF portfolio as a month behind, and check both before you act.
The sector tilt you are buying with it
Screening out banks, insurers and NBFCs removes the largest sector of the Nifty 50 and leaves what remains. The factsheet's sector weights are information technology 33.30%, healthcare 17.46%, fast moving consumer goods 13.65%, consumer services 13.51%, metals and mining 5.77%, construction materials 5.49%, consumer durables 4.60%, oil, gas and consumable fuels 3.71%, and automobiles and auto components 2.51%. Four IT companies (Infosys, TCS, HCL Technologies, Tech Mahindra) make up roughly a third of the list on their own.
This tilt is the reason the index can move very differently from the Nifty 50 in a given year. Nippon India's scheme page shows the Nifty50 Shariah TRI at minus 5.96% for the year to 31 August 2026 against minus 0.35% for the Nifty 50 TRI, and over three years at 3.60% against 8.99%; that gap is mostly the absence of banks and the weight of IT. The concentration problem in Indian halal portfolios works through what that means for position sizing; the short answer is that a halal Indian equity portfolio is a bet on IT and pharma whether you intend it or not.
Why an app's verdict can differ from index membership
Readers regularly find a stock in the Nifty50 Shariah list marked non-compliant on a screening app, or the reverse, and assume one of them is wrong. Usually neither is. TASIS applies its own thresholds, printed in the NSE methodology document: interest-based debt at or below 25% of total assets, interest income plus returns from interest-based investments at or below 3% of total income, and receivables plus cash and bank balances at or below 90% of total assets. Apps that follow the AAOIFI approach use different ratios; an AAOIFI presentation to the OIC Exchanges Forum summarises the standard screen as debt below 33% of market capitalisation and impermissible income below 5%.
Debt measured against total assets and debt measured against market capitalisation give different answers for the same company, and a 3% income ceiling is tighter than 5%. So a company can pass TASIS and fail AAOIFI, or pass AAOIFI and fail TASIS. Islamicly, Musaffa and IslamicTijarat each publish which methodology they follow; IslamicTijarat is TASIS-supervised, so its verdicts align most closely with the index, while Musaffa grades on AAOIFI ratios. What makes a stock halal for Indian investors sets out the two rulebooks side by side. Pick one methodology and stay with it; mixing them is how people end up re-screening the same stock three times.
How to buy the list: one trade or stock by stock
The one-trade route is Nippon India Mutual Fund's ETF, Nifty 50 Shariah BeES, listed on NSE under the symbol SHARIABEES. Nippon's page states the minimum purchase through the exchange is one unit, the exit load is nil, the unit is priced at about one-tenth of the index, and the NAV on 5 October 2026 was ₹425.44. The September 2026 factsheet shows an expense ratio of 0.96%, assets of ₹59.65 crore and a one-year tracking error of 0.06%. You need a demat and trading account, and you buy and sell at market prices during NSE hours like any share.
The stock-by-stock route gives you the same 18 names with no expense ratio and full control of weights, at the cost of 18 orders and 18 corporate actions to track. It makes sense above a few lakh rupees, where the 0.96% a year on the ETF becomes real money, or when you want to underweight IT deliberately. Below that, the ETF is cheaper in time than in fees. Either way, every purchase is a delivery order from your own funds, no margin and no derivatives; our article on intraday, F&O and MTF explains why.
- Decide the methodology first: TASIS for index-aligned verdicts, AAOIFI if you use Musaffa or Zoya, and do not switch mid-portfolio
- For the ETF, buy SHARIABEES on NSE in delivery mode; the ETF holds the index, so you do not screen the names yourself
- For direct stocks, buy the factsheet's constituents in delivery mode and record the date of the list you used
- Set a calendar reminder for the monthly review and compare your holdings with the current factsheet
- Track dividends per stock, because purification is calculated per company, not per portfolio
- Count the market value in zakat each year if you hold for resale, and the dividend income if you hold for income
What the ETF route does not do for you
Nippon India's scheme documents are unusually frank. The product note states that the ETF does not represent itself to be a Shariah compliant scheme, that it has not appointed a Shariah board, and that it currently does not follow any Shariah dividend purification process. The screening belongs to the index, not the fund. In practice that means the ETF gives you the TASIS-screened basket with no certification wrapper and leaves purification to you. Our review of Nippon India Shariah BeES goes through what that disclaimer means for a conservative investor; the methodology document's own line is that investors are required to purge the pro rata portion of interest income accrued on their holding of shares in a company.
Why no 'top 100 halal stocks' list stays valid
The query people type most is for a top 100, and no such list can be honest for more than a month. TASIS re-screens monthly. Ratios move with every quarterly result and every borrowing. Nifty500 Shariah, the broader index, is the closest thing to a long list, and even it has no fixed count. Any page that names 100 halal Indian stocks without a date and a methodology is a snapshot that has already drifted. Use the index factsheets for the names, an app for the ratios on the day you buy, and a review habit for everything after.
Verdict: which list for which investor
If you are starting out or investing under ₹5 lakh, buy the list in one trade through SHARIABEES, accept the 0.96% expense ratio and the IT weight, and purify dividends yourself. If you are investing more, or you want less IT, buy the constituents directly from the factsheet, in delivery mode, and re-check monthly. If you want a broader net than 18 names, use Nifty500 Shariah as the universe and an app as the daily check, but do not expect a fixed count. How to invest halal takes the mechanics from account opening to the first order.
Whatever route you take, write down the date of the list you used. The Nifty50 Shariah set of 30 September 2026 had 18 names; the ETF's 31 August portfolio had 17. That difference, in one month, is the whole argument for dating your list. Facts checked against niftyindices.com, mf.nipponindiaim.com, oicexchanges.org on 5 October 2026.
Frequently asked questions
Which are the best halal stocks in India?
The only published, dated and Shariah-screened list is the Nifty50 Shariah index, which had 18 constituents on 30 September 2026, led by Infosys at 14.86%, Eternal at 9.81%, TCS at 8.86%, Sun Pharma at 8.14% and Hindustan Unilever at 7.06%. 'Best' is a returns judgement no screen makes. The index gives you the compliant large caps; which of them is best for you depends on how much IT exposure you want.
Is there a top 100 halal stocks list for India?
Not one that stays correct. TASIS screens monthly and companies move in and out as debt and interest income change, so any 100-name list without a date and a methodology is already stale. The broader official index, Nifty500 Shariah, is the closest published long list and has no fixed count. Use the factsheets for names and a screening app for the ratios on the day you buy.
How do I buy all the halal stocks in one go?
Buy Nippon India ETF Nifty 50 Shariah BeES on NSE, symbol SHARIABEES, in delivery mode through any SEBI-registered broker. The minimum is one unit, priced at about one-tenth of the index (NAV ₹425.44 on 5 October 2026), there is no exit load, and the expense ratio in the September 2026 factsheet is 0.96%. You need a demat account. The ETF tracks the index but has no Shariah board and does no purification.
Why does my app say a Nifty50 Shariah stock is not halal?
Because the index uses TASIS thresholds (debt at or below 25% of total assets, interest income at or below 3% of total income) while AAOIFI-based apps measure debt against market capitalisation with a 33% ceiling and allow impermissible income up to 5%. The same company can pass one test and fail the other. Pick a methodology, use an app that follows it, and stop cross-checking between rulebooks.
Do I need to purify dividends from Nifty50 Shariah stocks?
Yes. The index methodology states that investors are required to purge the pro rata portion of interest income accrued on their holding of shares, and Nippon's ETF documents say the scheme does not run any purification process. Screening apps report a purification ratio per company. Multiply your dividend by that ratio and give the result away without expecting reward. Our dividend purification guide explains the arithmetic.
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See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
How often should I re-screen my halal stocks?
Monthly, to match the index. TASIS carries out monthly compliance screening for NSE Indices, and changes take effect from the last working day of the month. Compare your holdings against the current factsheet each month, and re-check a stock on your app before adding to it, since a quarterly result can push a ratio past the limit between reviews. Selling a stock that has turned non-compliant is the normal course.
