Yes Bank to be dropped from Nifty bank index from March 27

By: |
March 12, 2020 10:37 PM

NSE Indices' Index Maintenance Sub-Committee has decided to make the replacement of stocks in various indices as part of its periodic review.

Last month, the exchange said that Yes Bank would be moved out from the benchmark index Nifty 50 from March 27. (IE)

Troubled Yes Bank will be replaced in the Nifty banking index by Bandhan Bank from March 27, a subsidiary of the National Stock Exchange said on Thursday. The replacement has been done on account of the non-availability of future and options contracts in Yes Bank shares, NSE Indices said in a statement.

Last month, the exchange said that Yes Bank would be moved out from the benchmark index Nifty 50 from March 27.

Besides, the bank would be dropped from the futures and options segment from May 29. Apart from the banking index, changes have also been made in several indices, including Nifty Alpha 50, Nifty High Beta 50, Nifty 500, Nifty Small-cap 250 and Nifty Midsmallcap 400.

NSE Indices’ Index Maintenance Sub-Committee has decided to make the replacement of stocks in various indices as part of its periodic review. Among others, Gayatri Projects would be excluded from Nifty 500, Nifty Smallcap 250 and Nifty Smallcap 400 indices. Shilpa Medicare would be added in its place in these indices.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Analyst Corner: Maintain ‘buy’ on Tata Power with increased TP of Rs 73
2Markets mark longest weekly gaining streak since July
3Engineers India Rating: Buy- Q2FY21 showing was better than expected