Reliance Industries, Paytm, Zomato stocks to see activity today as NSE rebalances indices; check full list

Reliance Industries, Paytm, Zomato, Indian Oil, Apollo Hospitals, and HDFC Bank are among a long list of stocks that are expected to witness heightened activity during the dying minutes of today’s trade. Stocks will see outflows and inflows on the NSE today on account of the Semi-Annual Index Review for indices. The changes that were announced by the index provider at the end of February this year will be made today during the closing minutes and will be effective from tomorrow. Among the most notable changes will be the addition of Apollo Hospitals to the Nifty 50 and the exclusion of India Oil from the same index.

“Unlike global index rebalances, in domestic rejigs we see volume and simultaneous price impact happening in the last thirty to forty minutes on the adjustment day,” said Abhilash Pagaria, Head – Edelweiss Alternative & Quantitative Research. Changes made to NSE indices result in inflows and outflows as fund houses adjust their products according to the changes made in the indices. 

Nifty 50 changes

Apollo Hospitals – IN | Possible inflow – $155 million
Indian Oil – OUT | Possible outflow – $99 million

Weight up:

Axis Bank – Possible inflow – $14 million
Tata Steel – Possible inflow – $5 million

Weight down:

Infosys – Possible outflows – $32 million
HCL Technologies- Possible outflows – $11 million
JSW Steel- Possible outflows – $6 million
Adani Ports- Possible outflows – $4 million
Reliance Industries- Possible outflows – $3 million

Bank Nifty changes

Bank of Baroda – IN | Possible inflow – $67 million
RBL Bank – Out | Possible outflow – $24 million

Weight up:

HDFC Bank – Possible Inflow – $57 million
ICICI Bank- Possible Inflow – $25 million
Kotak Mahindra Bank – Possible Inflow – $13 million

Weight down:

Axis Bank  – Possible outflows – $36 million
State Bank of India – Possible outflows – $32 million
IndusInd Bank – Possible outflows – $29 million
AU Small Finance Bank – Possible outflows – $12 million
Bandhan Bank – Possible outflows – $10 million
Federal Bank – Possible outflows – $9 million
IDFC First Bank – Possible outflows – $6 million
Punjab National Bank – Possible outflows – $5 million
Axis Bank – Possible outflows – $0.09 million

Changes will also be made in the Nifty Next 50 index where SRF, Indian Oil, Mindtree, Zomato, Nykaa, and Paytm will be added. According to Abhilash Pagaria’s calculations, Zomato could see inflows worth $12 million while Nykaa stock inflows could worth $10 million, and $5 million inflows could be incoming for Paytm shares.