Adani Ports Joins Sensex, Yes Bank Added to BSE Bankex

Exciting News for Investors: Adani Ports Joins BSE Sensex!

In a significant development for the Indian stock market, the BSE Sensex index has announced its latest semi-annual review, and it’s big news for Gautam Adani-led Adani Ports and Special Economic Zone Ltd. 

Adani Ports Takes Center Stage

Come June 24, Adani Ports and Special Economic Zone Ltd. will officially become a part of the BSE Sensex, replacing IT giant Wipro Ltd. This inclusion is part of the reconstitution process of the S&P BSE indices, signifying a strategic move within the market landscape.

Notably, Adani Ports secures its place as the first stock from the Adani Group’s expansive portfolio to join the prestigious ranks of the 30-pack BSE Sensex. While the Nifty50 index already features two Adani stocks – Adani Ports and Adani Enterprises. 

Implications: Positive Inflows Likely

For investors eyeing Adani Ports, this inclusion in key indices brings promising prospects. Historically, such inclusions often lead to increased inflows from passive funds that track these indices.

On a year-to-date basis, Adani Ports has demonstrated robust performance, boasting a notable 38.32% increase in its stock value. In contrast, Wipro Ltd. has faced challenges, reflecting negative returns of 1.91% over the same period.

Changes Across BSE Indices

Beyond the Adani Ports announcement, the BSE has introduced several tweaks across its indices as part of its semi-annual rejig. These adjustments aim to reflect evolving market dynamics and ensure the indices remain representative and relevant.

S&P BSE 100, for instance, will welcome new additions such as REC, HDFC Asset Management Company, Canara Bank, Cummins India, and Punjab National Bank. Conversely, Page Industries, SBI Cards, ICICI Prudential Life Insurance, Jubilant FoodWorks, and Zee Entertainment Enterprises will exit the index.

In the S&P BSE Sensex 50, Divis Laboratories will make way for the Tata Group’s multi-bagger stock, Trent.

Meanwhile, S&P BSE Bankex will see the inclusion of Yes Bank and Canara Bank, replacing AU Small Finance Bank and IDFC First Bank.

Lastly, in the S&P BSE Sensex Next 50 index, Trent, Page Industries, SBI Cards, ICICI Pru Life, Jubilant Food, and ZEEL shall be replaced by REC, PNB, Divi’s Lab, HDFC AMC, Canara Bank, and Cummins India. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.