Shares of SBI Life Insurance and Divi’s Laboratories on Friday gained up to over 4 per cent after NSE said that these firms will enter benchmark index Nifty 50 from September 25.
SBI Life jumped 4.33 per cent to Rs 889.80 on the NSE.
Shares of Divi’s Laboratories also rose by 4.56 per cent to its one-year high of Rs 3,335 on the NSE.
SBI Life Insurance and Divi’s Laboratories will enter benchmark index Nifty 50 from September 25, NSE Indices, a subsidiary of the National Stock Exchange, said on Thursday.
Bharti Infratel and Zee Entertainment Enterprises will be dropped from the Nifty 50, NSE Indices said in a statement.
Shares of Zee Entertainment Enterprises went lower by 3.15 per cent to Rs 193.15 on the NSE and Bharti Infratel declined 0.72 per cent to Rs 197.80.
Changes have been made in several indices, including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Midcap 100, Nifty Midcap 50, Nifty Smallcap 250, Nifty Smallcap 100 and Nifty Smallcap 50 and host of sectoral indices like energy, MNC commodities and services sector.
NSE Indices’ Index Maintenance Sub-Committee has decided to make the replacement of stocks in various indices as part of its periodic review. These changes will be effective from September 25.