JM Financial expects Jio Financial Services, Zomato, Trent to join Nifty in Sep rebalancing

If Jio Financials and Zomato aren't added to F&O, the brokerage foresees Trent and Bharat Electronics joining Nifty, with LTI Mindtree and Divis Laboratories likely excluded.

JM Financial predicts Jio Financial Services and Zomato might join the Nifty if added to futures and options. Trent Ltd is also anticipated to be included in the Nifty, according to the brokerage.

If Jio Financials and Zomato are not added to F&O, the brokerage foresees Trent and Bharat Electronics joining the Nifty, with LTI Mindtree and Divis Laboratories likely to be excluded.

The rebalancing of NSE Indices will be announced in August, and take effect in September. The process considers the average free float market cap from February 1 to July 31 for September's adjustments.

Interestingly, Jio Financial Services and Zomato have an average free float market cap higher than Trent and Bharat Electronics.

Analysts estimate that around 25 stocks may be excluded from the futures and options segment, while approximately 78 could be added, as per the proposed changes in eligibility criteria.

Sebi's proposed adjustments involve higher thresholds for order size and marketwide position limits, along with a Product Success Framework introduction for single-stock derivatives after six months.

Nuvama Alternative & Quantitative Research has identified 78 potential stocks for inclusion, featuring names such as Zomato, YES Bank, Jio Financial, NHPC, Adani Green, and more.

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