The National Stock Exchange on Thursday announced ACC, HDFC AMC, and Nykaa will be excluded from the Nifty Next 50 index in the latest rejig. Indus Towers and Page Industries will also be removed from the index from 29 September onwards. In their steed, PNB, Shriram Finance, Trent, TVS Motor, and Zydus Lifesciences will be included in the Nifty Junior index, said NSE Indices.
Indices being rejigged
These changes will also occur in the Nifty 100 index, which is a combination of the blue-chip Nifty 50 and Nifty Next 50. No changes are being made in NSE’s benchmark Nifty 50 index. Other indices that will see a change in their constituents are Nifty Realty, Nifty Media, Nifty Smallcap 100, Nifty Smallcap 50, Nifty Midcap Select, Nifty Midcap 50, Nifty Midcap 100, Nifty 500, Nifty Smallcap 250, Nifty 200 and others.
NSE also announced changes to the expansive Nifty 500 index, scheduling the exclusion of 18 firms on September 29. This list featured companies such as Indiabulls Real Estate, Mahindra Logistics, Hinduja Global Solutions, Jindal Worldwide, and Godrej Agrovet. On the other hand, 18 new entities will be introduced, with names like Ujjivan Small Finance Bank, Gillette India, Glenmark Life Sciences, Alok Industries, Procter & Gamble Health, and Kirloskar Ferrous Industries leading the pack, among others.
Share reaction
Following the news, most of the scrips being included or excluded in the Nifty 100 index traded in the red. Page Industries tanked 3.7%, HDFC AMC slipped 2.7%, Nykaa was 1.7% lower, ACC fell in trade but pared its losses to jump 2.04% while Indus Towers dropped 2.8% intraday.