The National Stock Exchange announced on February 17 that it is replacing some stocks in the Nifty 50, Nifty 500, Nifty 200, Nifty 200, Midcap 150, Smallcap 100, Smallcap 50 and 35 other indices.
The indexes will consist of the updated list of stocks from March 31, 2023.
Changes in the Nifty Next 50 index include removing One 97 Communications Ltd. (Paytm), Mphasis Ltd., Biocon Ltd, Bandhan Bank Ltd., and Gland Pharma Ltd. Stocks to be added to the index are Adani Wilmar Ltd, Canara Bank, ABB India Ltd, Page Industries, and Varun Beverages Ltd.
The Nifty 500 index will see a rejig of 20 stocks including the exclusion of AstraZeneca Pharma India Ltd, Tata Coffee Ltd, Aditya Birla Sun Life AMC Ltd, and Hatsun Agro Product Ltd. The index will include Adani Power Ltd, Piramal Enterprises Ltd, NMDC Ltd, and Jindal Worldwide Ltd.
The NSE index change brings some good news for Adani Group as two of its companies, Adani Wilmar Ltd. and Adani Power Ltd. have been upgraded.
Nifty Next 50 index closed 0.62% lower at 38,439.40, the Nifty 100 index closed 0.53% lower at 17,721.05, and the Nifty 500 index closed 0.53% lower at 15,003.95 on Friday’s closing bell.
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