Kotak Mahindra Bank hits record high on inclusion in S&P BSE Sensex
With this addition of Kotak Mahindra Bank, weightage of banking sector in the benchmark index will increase significantly.
Kotak Mahindra Bank shares touched a life-time high of Rs 993 on Monday, up as much as 0.75 percent on addition in the BSE benchmark index.
The exchange, on May 19, had decided to add Kotak Bank (weight 3.5 percent) as well as Tata Motors DVR in the S&P BSE Sensex.
With this addition, weightage of banking sector in the benchmark index will increase significantly.
The exchange, however, excluded GAIL from the Sensex index.
Asia index also made changes in BSE 100, Sensex Next 50, BSE 200, BSE 500, BSE TECK and BSE CARBONEX.
In Sensex Next 50, It added Bharat Electronics, IDFC Bank, ABB India, SAIL and Canara Bank while excluded Oil India, GlaxoSmithKline Consumer Healthcare, Oracle Financial Services Software, Bajaj Holdings and Investment and Reliance Communications.
At 11:55 hours IST, the stock price was quoting at Rs 987.00, up Rs 1.45, or 0.15 percent on the BSE.Posted by Sunil Shankar Matkar