The Bombay Stock Exchange (BSE) announced a reshuffle of its key indices on Friday, May 24, 2024, as part of its semi-annual review process. This update will be effective from June 24, 2024.

The most notable change involves Adani Ports replacing Wipro in the benchmark Sensex index. This marks the inclusion of the first Adani Group company in the Sensex, a prestigious index that tracks the performance of the 30 largest and most actively traded companies in India. Notably, Adani Enterprises and Adani Ports are already constituents of the Nifty 50 index.

On the day of the announcement, Adani Ports’ share price witnessed a decline of 1.8%, closing at ₹1,416.90. Wipro’s share price also dipped slightly by 0.78%, settling at ₹462.15.

The BSE rejig goes beyond the Sensex. The S&P BSE 100 index, which tracks the performance of the top 100 companies by market capitalization, will also see some changes. REC Ltd, HDFC AMC, Canara Bank, Cummins India, and Punjab National Bank will be entering the S&P BSE 100, while Page Industries, SBI Cards, ICICI Prudential Life Insurance, Jubilant FoodWorks, and Zee Entertainment Enterprises will be excluded.

Similarly, the Sensex 50 index, a broader version of the Sensex, will see Tata Group’s Trent Ltd replacing Divi’s Laboratories Ltd. In the BSE Bankex index, focused on banking sector stocks, Yes Bank and Canara Bank will replace AU Small Finance Bank and IDFC First Bank.

These changes to the composition of the indices aim to reflect the evolving Indian economy and ensure the indices accurately represent the country’s corporate landscape. The inclusion and exclusion of companies are based on factors such as market capitalization, liquidity, and financial performance.

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