BSE replaces Wipro in Nifty 50: What changes for investors?
What's the story
NSE has announced major changes to its indices as part of a semi-annual review. The changes will be effective from September 30, after market hours on September 29. The most significant change is the inclusion of BSE Ltd in the Nifty 50 index, replacing Wipro Ltd. This will make BSE a part of India's benchmark equity index starting September 30.
Index impact
Wipro's removal will also affect Nifty Next 50
Wipro's removal from the Nifty 50 will also affect the Nifty Next 50 index.
This is because stocks in this index are selected from a reconstituted version of the Nifty 100.
The Nifty 100 index will see five stocks exit and an equal number enter. Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits will be excluded from the index.
They will be replaced by BSE, Hitachi Energy India, Polycab India, Vedanta Aluminium Metal, and Vodafone Idea.
Index reshuffle
Changes in Nifty Next 50
The Nifty Next 50 index will also see five changes. Indian Hotels, Lodha Developers, REC, Shree Cement and United Spirits will exit the index.
They will be replaced by Hitachi Energy India, Polycab India, Vedanta Aluminium Metal, Vodafone Idea, and Wipro.
This change comes after Wipro's removal from the Nifty 50 index.
Index overhaul
Major reshuffle in Nifty 500
The Nifty 500 index will witness a major reshuffle with 27 stocks being removed and an equal number added.
Among those exiting are 3M India, Aditya Birla Fashion and Retail, Bayer Cropscience, Bikaji Foods International, and Blue Dart Express, among others.
New entrants include Aether Industries, Avanti Feeds, Azad Engineering, Bagmane Prime Office REIT, Bharat Coking Coal, Black Box, Brookfield India Real Estate Trust, Clean Max Enviro Energy Solutions, Vedanta Iron and Steel, Vedanta Oil and Gas, and Vedanta Power.