Yes Bank, IndusInd Bank correct 1-2% on inclusion in BSE Sensex; Cipla, Lupin weak
Yes Bank gained 2.2 percent intraday and IndusInd Bank added over a percent after the Asia Index decided to add both stocks into BSE Sensex 30.
Drug makers Cipla (down 1.9 percent) and Lupin (down 0.7 percent) were under pressure as both will be dropped from the index.
The changes, announced by Asia Index (a joint venture between S&P Dow Jones Indices LLC and BSE), will be effective from December 18. The move is a part of Asia Index’s semi-annual reconstitution results.
The exchange also decided to add Federal Bank, Grasim Industries, Vakrangee and Bajaj Holdings & Investment into the BSE-100, an index of the top 100 listed companies in the country.
However, United Breweries, Steel Authority of India (SAIL), Canara Bank and Reliance Infrastructure will be excluded from the BSE-100 index.
The Asia Index also announced in changes in Sensex 50, Sensex Next 50, BSE 200 and BSE 500, among others.
Grasim Industries, Hindalco Industries, Hindustan Petroleum Corp (HPCL) will join the Sensex 50 index, replacing Ambuja Cements, Aurobindo Pharma and Bosch.
At 10:48 hours IST, the stock price Yes Bank was quoting at Rs 312.10, up 1.84 percent and IndusInd Bank was up 1.17 percent at Rs 1,649.95 while Cipla was down 1.7 percent at Rs 598.30 and Lupin down 0.25 percent at Rs 827.35 on the BSE.