Adani Ports & SEZ will replace Wipro in the 30-share Sensex from June 24. The replacement is part of the semi-annual rejig of indices carried out by the exchange.
The stock is expected to have a weightage of 1.2 per cent in the index. The inclusion is expected to bring in flows of $252 million, according to Nuvama Alternative & Quantitative Research.
Adani Ports will be the first Adani Group company to be included in the benchmark index. Two Adani Group firms, Adani Enterprises and Adani Ports, are part of the Nifty 50 index.
Shares of Adani Ports fell 1.8 per cent to close at ₹1,416 on the NSE. The stock has gained 6.2 per cent in the past five sessions. Wipro shares were down 0.8 per cent apiece.
AU Small Finance Bank and IDFC First Bank will be replaced by Yes Bank and Canara Bank in BSE Bankex. Trent will replace Divi’s Laboratories in Sensex 50.
REC, HDFC Asset Management, Canara Bank, Cummins, and Punjab National Bank will replace Page Industries, SBI Cards and Payment Services, ICICI Prudential Life Insurance, Jubilant Foodworks and Zee Entertainment in BSE 100.