Shares of retail giant Trent Ltd. and PSU firm Bharat Electronics Ltd. (BEL) will added to the 30-pack benchmark index Sensex on June 20. On the flip side, FMCG major Nestle India Ltd. and IndusInd Bank Ltd. are slated to be deleted from the index.
The inclusion of Trent and BEL are likely to lead to inflows of $330 million and $378 million, respectively. On the flip side, the exclusion of Nestle India and IndusInd Bank will result in outflows of $230 million and $145 million, according to Nuvama Alternative & Quantitative Research.
"Historically, Sensex inclusions tend to see intraday upmoves, supported by stronger volumes, and a similar trend could play out this time as well," said the research firm.
Further, UltraTech Cement is the sole counter likely to see its weightage in the index rise, leading to inflows of $4 million. On the flip side, heavyweights such as HDFC Bank, Bharti Airtel, Reliance Industries, ICICI Bank, Infosys, Sun Pharma, L&T, ITC, TCS, Axis Bank, Kotak Mahindra Bank an SBI are likely to see their weightage reduce, leading to cumulative outflows of $249 million in passive flows.
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The BSE 100 will see three additions, namely Dixon Technologies (India) Ltd, Coforge Ltd, and Indus Towers Ltd. These companies will replace Bharat Forge Ltd, Dabur India Ltd, and Siemens Ltd in the index.
In the BSE Sensex 50, InterGlobe Aviation Ltd and Shriram Finance Ltd will be added, while Britannia Industries Ltd and Hero MotoCorp Ltd will be excluded. Correspondingly, Britannia, Dixon Technologies, Coforge, Hero MotoCorp, and Indus Towers will be added to the BSE Sensex Next 50 index. These additions will replace InterGlobe Aviation, Shriram Finance, Bharat Forge, Dabur India, and Siemens, which are being moved out.
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