Jio Financial Services share exclusion from Sensex, other indices postponed by another 3 days to August 31
JFSL shares were listed on stock exchanges on Monday, August 21, after a demerger from its Reliance Industries (RIL). However, JFSL share price have been hitting lower circuits since listing weighed down by heavy selling from institutional investors.
On Friday, JFSL shares hit lower circuit for the fifth straight day. However, the stock recovered from day's and was last trading in the green.
Also Read: Why Jio Financial Services shares are hitting lower circuit everyday; Deepak Shenoy explains As Jio Financial Services will be removed from all indices, the index funds which received JFSL shares upon demerger, will now be forced to sell JFSL shares before it gets removed from the index. Analysts expect roughly around 12 crore JFSL shares need to be sold by index funds as they adjust their portfolios.
At 12:10 pm, JFSL shares were trading 3.52% higher at ₹223.50 apiece on the BSE. Catch Live Market Updates hereGet the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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