IndusInd Bank and Yes Bank, two of the best performing private banks will join the BSE’s benchmark index Sensex from December 18, according to Asia Index while drug makers Cipla and Lupin would be dropped from the index.
The changes are announced by Asia Index, a joint venture between BSE and S&P Dow Jones Indices LLC. Besides, changes have been announced in Sensex 50, Sensex Next 50, BSE 100, BSE 200 and BSE 500 among others.
“Effective at the open of Monday, December 18, 2017, …changes will be made,” Asia Index provider noted. The BSE-100, an index of the top 100 listed companies in India, would witness an entry of Federal Bank, Grasim Industries, Bajaj Holdings & Investment and Vakrangee Ltd in the index. While United Breweries, Steel Authority of India Ltd (SAIL), Canara Bank and Reliance Infrastructure would move out from the BSE-100 index.
Grasim Industries, Hindalco Industries, Hindustan Petroleum Corp Ltd (HPCL) would enter the Sensex 50 index club replacing Ambuja Cements, Aurobindo Pharma and Bosch.
Asia Index Pvt. Ltd is a 50-50 partnership between S&P Dow Jones Indices LLC, the world’s largest provider of financial market indices, and BSE Ltd, Asia’s oldest stock exchange and home to the iconic SENSEX index – a leading indicator of Indian equity market performance. Asia Index Pvt. Ltd, which combines the benchmarks, market intelligence, and insights of both parent companies, each established more than 115 years ago, aims to provide a full array of indices enabling global and domestic investors to participate in South Asia’s vibrant economies. The Company is best known for calculating, publishing, and maintaining a diverse family of Asian indices under the umbrella brand, S&P BSE Indice