Index Shuffle
The National Stock Exchange’s (NSE) semi-annual Nifty index rejig will take effect on September 30, with Nuvama Alternative & Quantitative Research identifying the stocks likely to see the biggest inflows and outflows.The brokerage expects BSE to attract the highest inflows of $594 million across passive indices, followed by Vedanta Aluminium, Adani Enterprises, Polycab and Power India. Wipro, IHCL, Reliance Industries, Shree Cement and United Spirits are expected to see the highest outflows.Here are the key additions and exclusions from major indices, along with the stocks expected to see the biggest flows.
Nifty 50 rejig
Inclusion: BSE shares will replace Wipro in the NSE’s benchmark Nifty 50 index. Nuvama Institutional Equities expects the inclusion to attract $668 million in inflows. BSE shares have gained 50% in a year and 19% in 2026 so far, despite falling over 8% in the past month.
Exclusion: Wipro, meanwhile, is expected to see outflows worth $230 million as a result of its exclusion from Nifty 50. The stock has fallen more than 40% in 2026 and 22% in three years.
Also read | BSE set to enter Nifty 50 from tomorrow, IT major Wipro to exit. What shareholders must know?
Nifty Next 50 rejig
Inclusions: Wipro shares, meanwhile, will be added to the Nifty Next 50 index, with the inclusion expected to attract $89 million in inflows, according to Nuvama Institutional Equities.
Vedanta Aluminium Metal is estimated to see the highest inflows at $144 million, followed by Polycab at $90 million. Other additions to the Nifty Next 50 include Power India ($79 million) and Vodafone Idea ($78 million).
Exclusions: Meanwhile, the stocks that are being excluded from the index and their expected outflows are Indian Hotels Company ($129 million), United Spirits ($85 million), REC ($79 million), Lodha ($66 million) and Shree Cement ($61 million).
Nifty Midcap 150
Inclusions: Indian Hotels Company is expected to see the highest inflows at $31 million following its inclusion in the Nifty Midcap 150 index, according to Nuvama. United Spirits ($20 million), REC ($19 million), Embassy Office Parks REIT ($19 million) and Lodha ($17 million) are next.
Other additions to the index include Hindustan Copper, Meesho, Narayana Hrudayalaya, Piramal Finance, Fertilisers and Chemicals Travancore (FACT), Indian Overseas Bank and Shree Cement.
Exclusions: Stocks facing the highest outflows following their exclusion from the index include BSE ($65 million), Polycab ($22 million), Power India ($20 million), Vodafone Idea ($19 million) and Apollo Tyres ($6 million).
Other stocks being removed from the Nifty Midcap 150 index include 3M India, ACC, AWL Agri Business, Honeywell Automation India, KPIT Technologies, SJVN, Tata Elxsi and NIACL.
Also read |Why is market crashing today?
Nifty Smallcap 250
Inclusions: Sterlite Technologies, Brookfield India Real Estate Trust, Sansera Engineering, Cupid and TD Power Systems are expected to see the highest inflows after joining the Nifty Smallcap 250, according to Nuvama. Other additions include ACC, Avanti Feeds, AWL Agri Business, Bharat Coking Coal, Fractal Analytics, Inox India, MTAR Tech and Vedanta group companies.
Exclusions: Meesho, Piramal Finance, Aster DM, Hindustan Copper and Narayana Hrudayalaya are expected to see the biggest outflows following their removal from the index. Other exclusions include Bayer Cropscience, Bikaji Foods International, FACT, Leela Palaces Hotels & Resorts, Niva Bupa Health Insurance Company, Sapphire Foods India and Travel Food Services.
Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
