Nifty 50 rejig today: Bajaj Finance, HDFC Bank, Reliance among stocks to see weight rebalancing
The National Stock Exchange of India (NSE) is set to rejig its equity indices, including the benchmark Nifty 50 and Bank Nifty, by the close of today’s trading session. Under the quarterly index rebalancing, the weightage of nine stocks in the Nifty 50 index will be altered.
As a part of weightage changes in Nifty 50 index, HDFC Bank’s weightage will rise to 13.5% from 13.4%, while the weightage of Bajaj Finance will rise to 2.1% from 2% earlier. Reliance Industries and ICICI Bank will see a minor addition of 0.03% in their weightage.
According Nuvama Alternative and Quantitative Research, Bajaj Finance is likely to see inflows of up to $32 million, while HDFC Bank and ICICI Bank will receive inflows of $19 million and $11 million, respectively, on the back of index rebalancing.
Reliance Industries and JSW Steel will see inflows of $9 million each, as per the brokerage estimates.
On the contrary, the weightage of Adani Enterprises in Nifty 50 will reduce to 0.8% from 1%, while that of Larsen & Toubro (L&T) will also fall to 4.4% from 4.5%. Adani Ports & SEZ will see its weightage falling to 0.8% from 0.9%.
Adani Enterprises is expected to see outflows to the tune of $71 million, while L&T may see an outflow of $30 million.
Adani Ports and Tata Consultancy Services (TCS) are likely to witness outflows worth $24 million and $12 million, respectively.
(To be updated)
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Published: 28 Dec 2023, 08:47 AM IST
