BSE Sensex Rejig: Trent, BEL to replace Nestle India, IndusInd Bank on BSE Sensex index from July 23

Asia Index, the benchmarks and market intelligence arm of BSE, on Thursday said that Tata group-owned Trent and state-owned Bharat Electronics will replace Nestle India and IndusInd Bank in the 30-share Sensex. The changes will come into effect from the beginning of trading on June 23, BSE said in a statement.

The rejig marks a shift in the composition of the benchmark index, with Trent and Bharat Electronics being added while FMCG major Nestle India and private sector lender IndusInd Bank will exit the Sensex as part of the reconstitution.

In a broader reshuffle, the exchange also announced changes in other indices as well. In the BSE 100 index, Dixon Technologies (India), Coforge, and Indus Towers will be added while Bharat Forge, Dabur India, and Siemens Ltd will be dropped, the exchange said.

In the BSE Sensex 50 index, InterGlobe Aviation, which operates India's largest airline IndiGo, and Shriram Finance will be included, replacing Britannia Industries and Hero Motocorp.

In addition, Britannia Industries, Dixon Technologies (India), Coforge, Hero Motocorp and Indus Towers will be added to the BSE Sensex Next 50 index. Interglobe Aviation, Shriram Finance, Bharat Forge, Dabur India and Siemens will be dropped from the BSE Sensex Next 50.

Also, IDFC First Bank is set to join the BSE Bankex benchmark, by replacing Canara Bank, it added.

Meanwhile, the Indian stock market ended with significant losses on Thursday, May 22, as rising geopolitical tensions, mounting concerns over US debt and stretched valuations of domestic equities drove investors away from riskier equities.

The Sensex closed 645 points, or 0.79 per cent, down at 80,951.99, while the Nifty 50 closed 204 points, or 0.82 per cent, lower at 24,609.70. The BSE Midcap index fell 0.33 per cent, but the BSE Smallcap index rose 0.17 per cent.

Investors got poorer by about ₹2 lakh crore in a single session as the cumulative market capitalisation of BSE-listed firms dropped to nearly ₹439 lakh crore from ₹441 lakh crore in the previous session.