NSE announces stock rejig in various Nifty indices except for Nifty50 and Nifty50 Equal weight index

The Index Maintenance Sub-Committee (Equity) of NSE Indices Limited has recently unveiled its plan to introduce changes across various Nifty equity indices, with the adjustments set to come into effect starting from September 29, 2023 (close of September 28, 2023).

In a significant alteration, companies including ACC, Nykaa, HDFC AMC, Indus Tower, and Page Industries are poised to be removed from the Nifty Next 50 index. Simultaneously, Punjab National Bank, Shriram Finance, Trent, TVS Motors, and Zydus Lifesciences will step in to take their places in the same index.

Transitioning to the Nifty 500 index, a notable reshuffle is on the horizon. Godrej Agrovet, IFB Industries, Indiabulls Real Estate, and 15 other stocks are slated for exclusion from the index. Meanwhile, Gillette India, Minda Corporation, Safari Industries, and an additional 15 stocks are primed to join the Nifty 500 index, with these changes taking effect from September 29, 2023 (at the close of September 28, 2023) as per the NSE circular.

Beyond these adjustments, NSE has also reported revisions in various other indices including Nifty 100, Nifty Midcap 15, Nifty Smallcap 250, Midcap Select, Midcap 50, Midcap 100, Smallcap 50, Small Cap 100, Nifty 200, Nifty Largemidcap 250, Nifty Microcap 250, and more.

A blend of sentiments emerges as several stocks get prepared for inclusion and exclusion within NSE’s diverse indices.

Furthermore, NSE has confirmed that there will be no modifications introduced to the Nifty 50 and Nifty 50 Equal Weight indices.

Shifting focus to NSE’s broader indices, the Nifty commenced the day at 19,301.75, experiencing a decline of 64 points compared to its previous close of 19,365.25. Presently, it hovers around the 19,300 mark, demonstrating efforts to find support and stage a recovery. Conversely, the Nifty Bank Index managed to rebound from its initial levels, briefly entering positive territory, and is currently trading near the 43,880 level.

Meanwhile, the Nifty IT index remains in the red zone, trading around the 30,765 mark.