NSE Indices Rejig on Sept 30: Hefty Inflows Likely in Nifty50, Nifty Bank & More

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NSE Indices Rejig on Sept 30: Hefty Inflows Likely in Nifty50, Nifty Bank & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The flagship company of Adani (NS: APSE ) Group, Adani Enterprises (NS: ADEL ) will make its way into one of the most-tracked benchmark equity indices Nifty50 from Friday, Sept 30, as part of NSE’s semi-annual rejig.

According to a National Stock Exchange (NSE) announcement earlier this month, Adani Enterprises will join the elite headline index Nifty50, replacing the cement manufacturer Shree Cement, starting Sept 30.

The leading stock exchange will also rebalance several of its other key indices, including Nifty Next 50 or Junior Nifty, Nifty Bank , Nifty 500 , Nifty 200 and Nifty 100.

Adani Total Gas (NS: ADAG ), Bharat Electronics (NS: BAJE ), Hindustan Aeronautics (NS: HIAE ), IRCTC (NS: INIR ), Mphasis (NS: MBFL ), Samvardhana Motherson International and Shree Cements (NS: SHCM ) will be the new entrants of Nifty Next 50, while Adani Enterprises, Jubilant Foodworks (NS: JUBI ), Lupin (NS: LUPN ), MindTree (NS: MINT ), PNB (NS: PNBK ), SAIL (NS: SAIL ) and Zydus Lifesciences (NS: ZYDU ) will be removed from the index.

Some more entrant stocks in the NSE indices’ rejig include PowerGrid (NS: PGRD ), HDFC Bank (NS: HDBK ) and Persistent, while the exiting ones include, SBI (NS: SBI ), Infosys (NS: INFY ), TCS (NS: TCS ), Axis Bank (NS: AXBK ) and Reliance Industries (NS: RELI ), among others.

The entry of Adani Enterprises into Nifty 50 could lead to a net inflow of around $189 million into the stock, while Shree Cement’s stock is expected to see an outflow of $56 million, as per Edelweiss (NS: EDEL ) Alternative and Quantitative Research.

According to Edelweiss, the new entrant stocks will witness fund inflows ranging from $16-189 million on Friday, while the ones replaced will see net outflows of $17-56 million.

The stock exchange reviews any rejig in the indices on a semi-annual basis after looking at multiple criteria and six-month data ending January and July.

Read Also: Nifty50 Rejig: Adani Enterprises to Replace Shree Cement; Nifty Next 50 Rejig

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