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Adani Ports enters Sensex today, Wipro exits as part of semi-annual rejig
Adani Ports stock will start trading as a Sensex constituent now owing to which brokerage firm Nuvama expects passive inflows of $259 million.
Adani Ports shares is set to enter the S&P BSE Sensex today while Wipro exits from the 30-stock index as part of the semi-annual rejig. Adani Ports stock will start trading as a Sensex constituent now owing to which brokerage firm Nuvama expects passive inflows of $259 million along with the addition of 14.9 million shares. The brokerage said that Wipro’s exclusion could trigger outflows of $170 million.
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What changes from today at the Sensex?
Seven stocks may see their weights go up in the Sensex owing to the rejig exercise: Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra, Tata Steel and IndusInd Bank.
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Moreover, these stocks may see their weights go down in the index: Mahindra & Mahindra (M&M), Reliance Industries (RIL), Bajaj Finserv, HDFC Bank, Maruti Suzuki, ITC and Larsen & Toubro (L&T).
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How has Adani Ports stock performed so far?
The stock has rallied almost 98% over the last 12 months. It is down from 52-week high of ₹1,621.40 on the NSE and its returns are higher compared to Wipro which yielded 27% in the same period. On Friday, Adani Ports shares were trading at ₹1,489.75 on the NSE, up by ₹20.35 or 1.38%. Wipro shares were around ₹491, down by ₹1.15 or 0.23%.
