On the BSE 100 and BSE Sensex Next 50, Adani Transmission, Adani Total Gas, SRF and Max Financial Services will replace Biocon, Power Finance Corp, Torrent Pharma and REC.
The semi-annual rebalance of BSE Sensex will come into effect on December 20, which will see Wipro, the country’s third-largest IT services company by market cap, replace two-wheeler major Bajaj Auto, BSE said in a statement.
This would lead to inflows of $ 154.3 million into Wipro, while Bajaj Auto could see outflows of $ 69.1 million, Edelweiss Alternative Research said as several passive funds that track the index would automatically invest in Wipro.
Catch all the live market action here
Meanwhile, Bank of Baroda will replace City Union Bank on the BSE Bankex index, the BSE had said.
On the BSE 100 and BSE Sensex Next 50, Adani Transmission, Adani Total Gas, SRF and Max Financial Services will replace Biocon, Power Finance Corp, Torrent Pharma and REC.
With Wipro’s weightage of 1.5 percent on the BSE Sensex, there will be other weight changes on the index, noted Edelweiss Alternative Research.
Also read: Market declines 3% amid weak cues but these 31 smallcap stocks gain 10-40%
While Infosys will see its weight reduce by 0.2 percent to 10 percent, Reliance Industries, HDFC Bank, ICICI Bank and HDFC will see their weightage reduce by 0.1 percent each. The new weightages of these stocks will be 12 percent, 10.1 percent, 7.9 percent and 7.5 percent, respectively.
