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The National Stock Exchange (NSE) of India announced adjustments to its prominent indices, the Nifty 50 and Nifty Next 50, effective 28 March 2024. These changes are part of the exchange's regular, bi-annual review process.
The Nifty 50, which tracks the performance of the 50 largest and most liquid companies in India, will see the exit of UPL. This will be offset by the inclusion of Shriram Finance.
The Nifty Next 50, which focuses on the next 50 largest and most liquid companies after the Nifty 50, will undergo a more substantial reshuffle. Five companies - Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene & Health Care, and Shriram Finance - will be excluded. Taking their place will be Adani Power, Indian Railway Finance Corporation (IRFC), Jio Financial Services, Power Finance Corporation, and REC.
These changes will come into effect at the close of trading on 27 March 2024. The NSE's periodic review process ensures that the indices accurately represent the Indian stock market and provide valuable insights for investors, financial advisors, and market participants.
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