Apollo Hospitals will replace Indian Oil Corporation (IOC) in the Nifty 50 index, while Bank of Baroda will be included in the Nifty Bank as RBL Bank was last month. Banking is excluded from the index as per the circular of the stock exchange issued.The circular of the stock exchange will come into effect from March 31, 2022.
These changes in the index will be effective from Thursday, March 31, 2022, while adjustments will be made on March 30, 2021 (Wednesday).
Edelweiss Alternative & Quantitative Research has analyzed the flow impacts caused by the entry, exit or realization of stocks in the major Nifty indices (Nifty 50, Nifty Bank, CPSE Index and Next 50).
According to the brokerage, these stocks will see a meaningful impact in the last thirty to forty minutes on March 30: Apollo Hospitals, Bank of Baroda, Power Grid, NTPC, SRF, Mindtree will see a positive impact while Indian Oil (IOC), RBL Bank , IndusInd Bank, AU Bank, ONGC, Aurobindo Pharma and Hindustan Petroleum (HPCL) will see negative impact.
What are the ranges of Nifty and Bank Nifty Writers are seeing in the week of Monthly Expiry, know the strong picks of Motilal Oswal
Abhilash Pagaria of Edelweiss Alternative & Quantitative Research said, “In domestic rebalances unlike global index rebalances, we look at the volume and its accompanying price impact over the last thirty to forty minutes on the adjustment day. According to our calculations, these are the top performing stocks. Meaningful effect will be seen in last thirty to forty minutes on 30th March. APHS, BOB, PWGR, NTPC, SRF, MINDTREE will see positive effect while IOCL, RBK, IIB, AUBANK, ONGC, ARBP and HPCL will see negative effect.
As per the NSE circular, the Index Maintenance Sub-Committee – Equity (IMSC) of NSE Index Limited has decided to modify the eligibility criteria of Nifty Equity Index and swap shares in various indices as part of its periodic review.
Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Money can be transferred from Moneycontrol to anyone. It is never advised to apply here.)
,