Shree Cement share price jumps 6% after Nifty50 inclusion; YES Bank shares face heat

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Updated: Feb 19, 2020 1:11 PM

Shares of Shree Cement jumped nearly 6 per cent from previous close Wednesday after inclusion in the benchmark Nifty index.

While shares of Shree Cement were trading at Rs 24,500, up 722.75 points, or 3.04 per cent, YES Bank was down 1.71 per cent at Rs 34.45.

Shares of Shree Cement jumped nearly 6 per cent from previous close Wednesday after inclusion in the benchmark Nifty index. The stock will replace YES Bank in the index from March 27. However, YES Bank shares plunged after exclusion. While shares of Shree Cement were trading at Rs 24,500, up 722.75 points, or 3.04 per cent, YES Bank was down 1.71 per cent at Rs 34.45. Yes Bank shares opened weak in the intraday trade today at Rs 34, then lost ground and hit day’s low of Rs 33.60, down 4.13 per cent over the last close.

The other stocks dropped from Nifty Next 50 include Vodafone Idea, Ashok Leyland, Indiabulls Housing Finance, L&T Finance Holdings, and Shree Cement. Adani Transmission, IDBI Bank, Info Edge (India) Ltd, Larsen & Toubro Infotech and Torrent Pharmaceuticals are the stocks that would form part of the Nifty Next 50 index. Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities, and services sector will also see the changes, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said on Tuesday.

Meanwhile, the benchmark equity indices — Sensex and Nifty — opened on a strong note as the global investors weigh measures by China to boost the coronavirus-hit economy. The NSE gauge Nifty too climbed over 123 points to trade above the psychological 12,000 level. Starting off on a higher note, the BSE barometer further gained strength as the trade progressed and quoted at 41,302.80, a rise of 408.42 points or 1 per cent. Likewise, the Nifty was trading at 12,116.30, gaining 123.80 points or 1.03 per cent.  On Tuesday, the Sensex had closed down 161.31 points or 0.39 per cent at 40,894.38, while the NSE barometer Nifty settled at 11,992.50, showing a fall of 53.30 points or 0.44 per cent.

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