BSE to replace Wipro in Nifty 50 index

In a notable change effective September 30, BSE shares will enter the Nifty 50 index, taking over Wipro's longstanding position since January 2002. This decision comes on the heels of BSE's impressive growth this year, while Wipro's market performance has waned. The adjustments by NSE aim to enhance broader representation across the market indices.

economictimes.indiatimes.com ·1h ago

BSE shares will join the Nifty 50 index on September 30, replacing Wipro which has been part of the index since January 2002. According to the National Stock Exchange of India, BSE's six-month average free-float market capitalization stood at ₹1,40,879 crore, significantly higher than Wipro's ₹55,930 crore. This change is part of a semi-annual index review aimed at enhancing representation across market indices.

The NSE stated that BSE's inclusion is due to its market capitalization being at least 1.5 times that of the index's smallest constituent, Wipro. This move reflects the current market performance, with BSE's shares up 37% so far this year, while Wipro has declined 29.5%. The change may impact passive funds tracking the Nifty 50 index, which has around $97 billion in assets under management.

The Nifty 50 index represents the 50 largest companies in India based on average free-float market capitalization over six months, with liquidity criteria also applied. Business Recorder reported that investors are weighing AI-related risks to Indian IT service exporters, while Indian households are increasingly moving their savings into financial markets.

Brief written by urgent.news from The Economic Times - Top News, Hindu BusinessLine, Business Recorder — 3 reports on this story. Machine-written — it may contain errors, so check the original before relying on it.