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Posted on  May 24, 2024 under  by Ayush Maurya

Adani Ports to Join BSE Sensex, Wipro to Exit on June 24

In a significant reshuffle, Adani Ports and Special Economic Zone Ltd (APSEZ) will be included in the BSE Sensex, replacing Wipro Ltd, starting June 24, 2024. This change is part of the Bombay Stock Exchange's (BSE) semi-annual review, which aims to ensure the index remains representative of the market's top companies.

Adani Ports, a key player in India's port infrastructure sector, will become the first company from the Adani Group to join the Sensex. This inclusion is expected to bring increased visibility and investment to the company, with estimates suggesting an inflow of $118 million. The Sensex is a critical benchmark for the Indian stock market, comprising 30 prominent companies across various sectors.

This update will remove Wipro, a leading IT services company, from the Sensex. The exclusion will likely lead to an estimated outflow of $56 million from Wipro's stock. Despite this, Wipro remains a significant player in the IT sector and continues to be a part of other indices, including the Nifty 50.

The BSE's review also includes changes to other indices. For example, Page Industries, SBI Cards, ICICI Prudential Life Insurance, Jubilant FoodWorks, and Zee Entertainment Enterprises will be replaced in the BSE 100 index by REC Ltd, HDFC AMC, Canara Bank, Cummins India, and Punjab National Bank. Additionally, Trent will replace Divi's Laboratories in the Sensex 50.

These adjustments are part of the BSE's efforts to ensure the indices accurately reflect the evolving market conditions and the performance of the leading companies.

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Ayush Maurya

Written by Ayush Maurya

Ayush is a seasoned financial markets expert with over 3years of experience. He has a passion for breaking down complex financial concepts into simple, digestible terms. Through his 50+ articles, Ayush has helped countless individuals navigate the often intimidating world of finance.

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