In the latest rejig, BSE on Friday dropped four existing constituents namely Tata Motors, Tata Motors (DVR), Vedanta and Yes Bank from S&P BSE Sensex.
In the latest rejig, BSE on Friday dropped four existing constituents namely Tata Motors, Tata Motors (DVR), Vedanta and Yes Bank from S&P BSE Sensex. In their places, UltraTech Cement, Titan and Nestle India will be added in the index from December 23, Asia Index, a joint venture between S&P Dow Jones Indices and the BSE, said in a statement on Friday. It reduces the number of constituents to 30 firms from 31 previously.
UPL and Dabur India find a place in the S&P BSE Sensex 50. The stocks replace Indiabulls Housing Finance and Yes Bank. In addition, Indiabulls Housing Finance, Yes Bank, InterGlobe Aviation, SBI Life Insurance Company and Info Edge (India) enter the S&P BSE Sensex Next 50, while Cadila Healthcare, Dabur India, Glenmark Pharmaceuticals, UPL and Edelweiss Financial Services get dropped from the index, BSE also said in the statement.
Meanwhile, the equity benchmarks treaded lower for the second straight day on Friday, weighed by losses in IT and bank stocks, as investors baulked at expanding their portfolios amid stretched valuations and growth concerns. IT stocks fell up to 3 per cent on Friday amid reports of changes in the US work visa requirements aimed at protecting American workers. Infosys shares declined 2.89 per cent, TCS 2.20 per cent, Hexaware Technologies 1.84 per cent and HCL Technologies 1.82 per cent on the BSE.After trading on a weak note through the day, the 30-share BSE Sensex ended 215.76 points, or 0.53 per cent, lower at 40,359.41. Similarly, the broader NSE Nifty settled 54 points, or 0.45 per cent, down at 11,914.40. During the week, the Sensex inched up 2.72 points, while the Nifty gained 18.95 points.