NSE index rebalancing: Weightage of Axis Bank, Bharti Airtel to increase in Nifty50; Bajaj Finserv, Kotak Bank set to decrease — Check details

Nifty rebalancing: As a part of routine rebalancing of NSE indices, Nifty and Nifty Bank will see changes in the weightage of the stocks effective from December 30, while adjustment will take place from Thursday - December 29.

Nifty50

Individually, weightage of Axis Bank on Nifty50 which was 3.1 per cent will be increased to 3.2 per cent, Bharti Airtel will increase to 2.6 per cent and Adani Ports will be at 0.8 per cent.

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On the flipside, the weightage of Bajaj Finserv will decrease from 1.2 per cent to 1 per cent, Bajaj Auto will decrease to 0.5 per cent and Kotak Bank will be reduced to 3.3 per cent.

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Nifty Bank

On Nifty Bank the weightage of HDFC Bank stock will increase the most from 26.9 per cent to 27.7 per cent, ICICI Bank weightage will stand at 24.2 per cent and Kotak Bank at 10.2 per cent.

In other bank stocks, IndusInd Bank’s weightage will increase to 6.2 per cent, Federal Bank to 2.2 per cent and Bank of Baroda to 2.6 per cent.

Conversely, the weightage of State Bank of India (SBI) will reduce to 10.2 per cent from 11.1 per cent and Axis Bank will be cut to 10.2 per cent from 12.5 per cent.

In Nifty Bank almost 2.3 per cent weightage will be reduced.

CPSE index

Further, there will be changes in the CPSE index as well. The weightage of Power Grid will increase from 19.5 per cent to 20 per cent and NTPC will increase to 20 per cent from 19.5 per cent.

On the flipside, ONGC’s weightage will reduce to 20 per cent, Coal India to 17.1 per cent and BEL to 13.2 per cent.

According to Zee Business research, $ 2 to $ 2.5 crore inflows could be seen in ICICI Bank and HDFC Bank.

The rebalancing of NSE indices is done on a quarterly basis from the last trading day of March, June, September and December by considering closing prices as on a T-3 basis, where ‘T’ is the last trading day for these months. These changes shall become effective from December 30.

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