Nifty 50 rejig today: Bajaj Finance, HDFC Bank, Reliance among stocks to see weight rebalancing
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.
Also Read: Day trading guide for stock market today: Six stocks to buy or sell on Thursday — December 28 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%.
(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) 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.
Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — December 28 In the Nifty Bank index, IDFC Bank, ICICI Bank, Kotak Mahindra Bank, SBI, Axis Bank and Bandhan Bank will see a rise in their weights, while HDFC Bank, Federal Bank, Bank of Baroda, AU Small Finance Bank, IndusInd Bank and Punjab National Bank (PNB) will see a decline in their weights. Moreover, in the CPSE Index, PowerGrid Corporation of India’s weight will rise to 20% from 19% earlier, while that of NTPC will fall to 20% from
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