BSE, IndiGo shares jump up to 3% on likely inclusion into Nifty 50

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The shares of Bombay Stock Exchange (BSE) and IndiGo made sharp recovery from their respective day's lows and jumped significantly higher in the green in the second half of June 23. This came after a report said that the two stocks are likely to be added to the benchmark index Nifty 50 during its next review.

BSE shares surged over 3 percent to trade at Rs 2,772 apiece. The shares of Asia's oldest bourse have now snapped a two-day losing streak, over hopes of higher inflows following inclusion into the benchmark index. IndiGo shares meanwhile jumped over 1 percent to trade at Rs 5,447 apiece, recovering all losses after opening in the deep red.

BSE and IndiGo-parent InterGlobe Aviation are likely to replace IndusInd Bank and Hero MotoCorp on the index during the upcoming Nifty 50 index review, which is expected to be conducted in August and take effect from September, CNBC-TV18 reported citing sources.

Moneycontrol couldn't independently verify the report.

BSE shares have rallied over 50 percent in the past six months, and over 13 percent in the past one month, despite being put under the Additional Surveillance Measure (ASM) framework. The stock currently has a P/E ratio of over 88.

IndiGo shares have gained nearly 23 percent in the past six months, but have fallen over 1 percent in the past one month. The shares of the airline currently have a P/E ratio of 28.70.

Hero Motocorp shares dropped around 1.6 percent to trade at Rs 4,269 apiece. This came after the transport ministry made anti-lock braking systems (ABS) mandatory for all new scooters and motorcycles, which may push up prices by around Rs 3,000 per unit, or a 3–5 percent increase in vehicle costs.

IndusInd Bank shares meanwhile were trading in the green with marginal gains.

Also read: Our LIVE blog on stock market updates