BSE To Enter Nifty 50, Replace Wipro From Sep 30

New Delhi: Leading stock exchange BSE Ltd will be included in the benchmark Nifty 50 index, replacing IT major Wipro Ltd, as part of the periodic review of the index by NSE Indices Ltd.

The changes will come into effect from September 30, with September 29 being the last trading day before the rejig, NSE Indices said in a notice on Monday.

BSE has been included in the Nifty 50 after its six-month average free-float market capitalisation stood at Rs 1,40,879 crore, more than 1.5 times the corresponding market capitalisation of Wipro, the smallest constituent being excluded from the index.

Wipro’s six-month average free-float market capitalisation stood at Rs 55,930 crore.

The next two eligible stocks — TVS Motor Company and Divi’s Laboratories — were not considered for inclusion, as the average free-float market capitalisation of the two Nifty 50 constituents with the lowest market capitalisation, HDFC Life Insurance Company and Tata Consumer Products, did not meet the required 1.5 times threshold.

TVS Motor’s average free-float market capitalisation stood at Rs 84,566 crore, while that of Divi’s Laboratories was Rs 82,930 crore.

HDFC Life Insurance Company’s average free-float market capitalisation was Rs 65,666 crore, and that of Tata Consumer Products was Rs 73,054 crore.

NSE Indices also clarified that only stocks available for trading in the NSE’s Futures and Options segment are eligible for inclusion in the Nifty 50.

The replacement of Wipro with BSE will also be applicable to the Nifty50 Equal Weight index.

Additionally, NSE Indices has rejigged several indices, including Nifty 100, Nifty 500, Nifty SmallCap 250, Nifty MidCap 150 and Nifty Next 50.

BSE, Hitachi Energy India, Polycab India, Vedanta Aluminium Metal and Vodafone Idea will be included in the Nifty 100 index.

Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits will be excluded from the Nifty 100 index as part of the periodic review.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)