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NSE rejigs Nifty indices, here’s how Next 50, Nifty100, Nifty 500 indices will change from March 31

Nifty Next 50, Nifty 100 Nifty 500 and other sectoral indices will also see some changes.

Money9
Last Updated : February 24, 2021, 10:34 IST

the US Dow Jones Industrial Average still doesn’t have any of the internet platform companies such as Amazon or Google

Nifty’s Index management Sub-committee (IMSC) has announced a rejig of certain NSE indices as part of its periodic review. The reshuffle that will come into effect on March 31 will replace Gail India with Tata Consumer Products in the Nifty50 index.

Nifty Next 50, Nifty 100 Nifty 500 and other sectoral indices will also see some changes. The NSE announced that companies including Adani Enterprises, Apollo Hospitals, Gail (India), Jubilant FoodWorks, MRF, Vedanta and YES Bank will be included in the Nifty Next 50. These players will be replaced by Bank of Baroda, Concor, General Insurance Corporation of India, Hindustan Zinc, OFSS, Power Finance and Tata Consumer will be excluded from the index.

A change in indices forces exchange-traded funds (ETF) and mutual funds to mirror the moves if they have their portfolios shaped up in a manner that reflects the index and its constituents.

In the Nifty 500, some 24 companies including Angel Broking, Balaji Amines, CAMS, Happiest Minds, Hemisphere Properties, Indo Count Industries, Vedanta, Tanla Platform, Prince Pipes and Triveni Turbines will be added in the index. On the other hand, VRL Logistics, CARE Ratings, Jagran Prakashan, Jai Corp, Navneet Education, Omaxe, Praj Industries, TV Today Network stood among players which will exit from Nifty 500 index.